The promotional mix refers to the combination of various promotional tools used by companies to promote their products or services.
These tools can include advertising, sales promotion, personal selling, direct marketing and public relations.
The promotional mix is a crucial aspect of a company’s overall marketing strategy, as it helps to create brand awareness, generate sales and build customer loyalty.
In this article, we will explore the benefits of using a promotional mix and how businesses can create an effective mix for their products or services.
Table des matières
What is Promotion Mix?
Promotion mix refers to the integration of its components, including personal selling, advertising, sales promotion, public relations, and direct marketing, to achieve targeted marketing goals and objectives.
It can also be defined as the combination of several promotional tools used to promote products, attract customers, persuade them, and create a place for the products in the market.
As promotion is the fourth most important element of the marketing mix, the aim of the promotion mix is to promote the company’s products in the most effective and cost-efficient way.
Components of the promotional mix
The promotional mix is made up of several key elements,
Advertising
Any paid presentation and promotion of ideas, goods or services by an identified sponsor. Examples include: print advertising, radio, television, billboards, direct mail, brochures and catalogues, signage, in-store displays, posters, motion pictures, web pages, banner ads and e-mail.
Personal selling
Personal selling involves selling a product or service on a one-to-one basis. This can be done face-to-face or by telephone. It involves helping and persuading one or more prospects to buy a good or service or act on an idea through an oral presentation.
Examples: sales presentations, sales meetings, sales training and incentive programmes for intermediate sales staff, samples and telemarketing.
Sales promotion
Media and non-media marketing communications are used for a limited, pre-determined period of time to increase consumer demand, stimulate market demand or improve product availability.
Examples include: coupons, prize draws, competitions, product samples, discounts, premiums, trade shows, exchanges and exhibitions. The objective of sales promotion is to increase sales in the short term.
Public relations
Public relations is an intimate paid stimulation of the offer of a product, service or business unit by planting important news about it or a favourable presentation of it in the media.
Public relations management is very important for an organisation. It helps to build image, having a good image helps the organisation to develop trust and a bond between them and their customers, this goodwill is invaluable.
Public relations activities include press releases, company literature, videos, websites, television and radio presentations, charitable contributions, speeches, themed advertising and seminars.
Direct marketing
The aim of direct marketing is to create one-to-one relationships with organisations or individuals. Direct marketing can take the form of mail, e-mail, telephone calls and mail order. The company generally contacts a person named at the address.
Creating an effective promotional mix
To create an effective promotional mix, companies need to consider their target audience, marketing objectives and budget. Here are some key steps to follow:
Identify the target audience: the first step in creating a promotional mix is to identify the target audience. This will help companies choose the most effective promotional tools to reach their audience. For example, if the target audience is young adults, social network advertising and influencer marketing may be effective.
Define marketing objectives: once the target audience has been identified, companies need to define clear marketing objectives. These objectives should be specific, measurable and achievable. For example, the objective might be to increase sales by 20% over the next quarter.
Choose promotional tools: depending on the target audience and the marketing objectives, companies can choose the most effective promotional tools. For example, if the objective is to increase brand awareness, advertising and public relations can be effective. If the objective is to generate sales, sales promotion and personal selling may be more effective.
Set a budget: Companies should also set a budget for their promotional mix. This will help to ensure that they are using cost-effective promotional tools and not overspending on promotion. The budget should be based on the expected return on investment and the overall marketing budget.
Monitor and evaluate: Finally, companies need to monitor and evaluate the effectiveness of their promotional mix. This will help them identify the most effective promotional tools and make any necessary changes. By constantly monitoring and evaluating their promotional mix, companies can ensure that they are getting the best possible return on their investment.
Benefits of the promotional mix for companies
Increases brand awareness: One of the most important benefits of using a promotional mix is that it helps to increase brand awareness. By using a variety of promotional tools, companies can reach a wider audience and create a strong brand identity. This can help build customer trust and loyalty, as well as increasing sales.
Generates sales: Another important benefit of using a promotional mix is that it can help generate sales. By using targeted advertising, sales promotion and personal selling techniques, businesses can encourage customers to make a purchase. This can be particularly effective for new products or services that are not yet well known in the market.
Customer loyalty: a combination of promotions can also help build customer loyalty. By using a variety of promotional tools, companies can create a positive image for their brand and build strong relationships with their customers. This can lead to customer loyalty and increased customer lifetime value.
Increases market share: An effective promotional mix can also help companies increase their market share. By using a combination of promotional tools, companies can differentiate themselves from their competitors and capture a greater share of the market.
Improves return on investment (ROI): Finally, a well-planned promotional mix can help improve a company’s return on investment (ROI). By using a combination of cost-effective promotional tools, companies can reach their target audience and generate sales without spending a lot of money.
The disadvantages of the promotional mix
Although the promotional mix is a key element of marketing and can contribute to a company’s success, it also has some potential drawbacks. Here are some of the main disadvantages of the promotional mix:
High costs: The costs of advertising, sales promotion, direct communication and PR management can be high. Companies have to spend money on creating attractive advertising, organising promotional events and managing media relations. If the return on investment is not sufficient, it can become a financial burden for the company.
Difficulty in measuring effectiveness: It can be difficult to measure the effectiveness of some forms of promotion, such as public relations management. It can be difficult to quantify the results of relations with the media, influencers or consumer groups. This can make it difficult to assess the return on investment for these initiatives.
Promotional fatigue: Consumers can become unresponsive to a promotion if it is used too often or becomes too predictable. Companies need to be creative to maintain consumer interest and avoid appearing too aggressive or repetitive.
Brand consistency: If the various forms of promotion are not consistent with the company’s brand image and overall strategy, this can have a negative impact on consumer perception. Companies need to ensure that all promotional initiatives are consistent with their brand positioning and overall message.
Conclusion
The promotional mix is a crucial aspect of a company’s overall marketing strategy. By using a combination of promotional tools, companies can increase brand awareness, generate sales, build customer loyalty, increase market share and improve customer loyalty.
