The marketing mix is part of your marketing plan. Define product, place, price and promotion. The promotion mix aims to increase brand or product awareness, communicate your product’s unique value proposition, and gain buy-in for your products. The main purpose and focus of the promotional mix is to get the desired result – the sale of your product. There are more than seven common mixed promotion tactics, and while most companies don’t use all of these tactics to promote and sell their products, they do use a combination of these tactics.
Top 4 Mixed Promotion Tactics:
- Personal sale it is one of the most common promotional tactics. Most companies hire people to do the sales: sales representatives, account managers, internal sales representatives, retail sales, sales agents, or telemarketers. Face-to-face selling is one of the most common selling methods, although sales by phone and, more recently, sales by email are being used more and more. They aren’t necessarily that effective, but they are low-cost sales tactics.
- Advertising is another common promotional tactic. Advertising focuses on brand recognition and identity; not only in the product. Advertising can be an expensive tactic that only large companies can invest in; particularly television advertising that can cost anywhere from $ 100,000 to more than $ 1 million for a national primetime broadcast (for a 30-second ad!). This cost is in addition to the cost of producing the commercial. Advertising in consumer or industry magazines is less expensive, and you can usually target a specific industry or region. Other advertising may include car or bus ‘wraps’, events (such as sports, music, art), and billboards. The Internet is becoming a very popular place to advertise and is relatively more affordable.
- In the retail market, consumer promotion It’s very common. Buy one get one free. Coupons for discounted or free products. Free trial packages. Discounts or refunds for prompt payment. Contests that return cash, prizes, or products. The commitment of marketers to consumer promotion is that this form of promotion can be designed to be highly measurable. Coupons, contests, and packaging can be coded to report trade-ins and to report sales increases and / or decreases related to consumer promotion. Additionally, packaging new products as a trial, with a mature or declining product, can often provide an opportunity to sell and extend the life cycle of the declining product.
- Public Relations (PR) is another common promotional tactic. Public relations includes writing and distributing press releases (to local newspaper, national newspapers, online public relations sites, radio and television, magazines, and more). The key to effective public relations is identifying and understanding your target audience, the key message or messages you want to convey, the credibility of your organization, and the recognition that public relations is not a sales tactic but an identity (be it corporate, brand or product). ) construction tactic.
The most effective promotional program is usually one that uses a variety of tactics and techniques. It is important to measure the effectiveness of the program you are participating in and adjust your promotional program to increase effectiveness and results (sales).