Business

Business

Customer Inserts His /Her Name

Customer Inserts Grade Course

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5-07-2008

Q1 .Explain what is meant by a promotional mix and using examples show how each element in the promotional mix could be used to support the launch of a new product

Promotion

What is promotion ? Promotion can be defined as an activity that people use to communicate with other people about their company 's products They try to convince the people to buy their products and become their company 's customers . For

example : promotion of a cellular company is done through advertisements in the magazines or on the television or in the newss or even through billboard ads . Promotion is considered to be an essential element that is needed by the company to sell their products to the people . The company conducts a promotion of a product because they want to provide information to the potential customers who would actually buy the product of the company

Promotion Strategy

Promotional strategy can be defined as a combination of advertising publicity , personal selling , sales promotion and direct marketing . These components basically help with communicating with the buyers and others who have an effect on the purchasing decisions . Billions of dollars have been spent on the promotional strategy of products all over the world Now let 's take up a real life example of a company Procter Gamble (P G , promotional strategy of this company for its product plays an important role , when the company entered the Chinese market . The company introduced Head Shoulders shampoo in the market and did a lot of advertising of that product , handed out shampoo samples to the people of China and now this brand has become one of the leading shampoos in the country . It is basically the communication activity that makes up the marketing promotional strategy . All kinds of promotions have their advantages and disadvantages , the promotional strategy basically combines the advantages of each component of promotion into a cost effective promotion mix ( HYPERLINK "http /www .amazon .com /exec /obidos /search-handle-url 5Fencoding UTF8 se arch-type ss index books field-author David 20W 20Cravens " Cravens HYPERLINK "http /www .amazon .com /exec /obidos /search-handle-url 5Fencoding UTF8 se arch-type ss index books field-author Nigel 20Piercy " Piercy , 2000

Developing a Promotional Strategy

The positioning strategy of the product and the target markets basically guide the promotion decisions of the company 's product . When a company is developing a promotion strategy it has to consider some of the following things like for example : setting up the communication objectives , making the promotion budget or considering a strategy for each of the promotional mix components or elements . When developing the promotional strategy the company has to decide how big a role promotion will play in the marketing strategy . Personal selling and advertising basically play a major role in the marketing strategy because it is the best way to inform the potential clients or customers about the new product the company is launching

Other things that have to remember...