Let's look at promotion and its place in the marketing mix. As you know, promotion is part of the four P's:
Promotion is used to sell a product--that good, service, or idea--and it's done through what's called a promotion mix. There are five main aspects of a promotion mix.
|Advertising||Presentation and promotion of a ideas, goods, or services||
|Personal Selling||Process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation||
|Sales Promotion||Media and non-media marketing communication which is used for a pre-determined, limited time to increase consumer demand or stimulate market demand||
|Public Relations||Practice of managing the spread of information between an individual or organization and the public||
Newspapers and magazine articles
|Direct Marketing||Form of advertising that allows business and non-profits to communicate straight to the customer||
Some of the ways to promote a product could be simply imparting knowledge about the product, or telling consumers that there's been a change in price, as in "Look at the new price and how much more value I'm offering you for this particular product!"
These are all types of promotion, and as a business, you're going to mix several different ones. You're not going to rely on just one type of promotion.
Media mix comprises the various communication forms that can be used by an organization to inform or promote its offerings. With media mix, we're primarily concerned with advertising or advertising media. There are many different types of media, such as:
These are all ways to advertise a different product. Typically you'll see companies hit a variety of different advertising media in order to get their product message out.
The internet is one communication channel in particular that has been on the rise lately, utilizing something called data mining. Data mining is simply understanding who it is that's looking at your product or buying your product. If you can define who is buying your product through avenues like rewards cards that track purchases and demographic data, then you can target your promotional media in order to hit that target market--specifically the people you want to sell to.
EXAMPLEDo you ever notice that those pop-up ads miraculously appear for things that you've searched for recently, in order to let you know about a product that's out there? This is a result of companies collecting browsing data.
Or, you may see promotions at the point of purchase, like additional savings or incentives offered for signing up for a rewards cards or special discount club. You may be offered rebates if you buy something, or come into contact with any number of other displays within a store that touts a particular item that's on sale or being promoted.
Trade shows involve getting a product out there in a very public way.
EXAMPLEAn auto show, for example, is a forum for all of the car companies to come out with their newest and greatest concept cars and latest models in order to generate media buzz and interest within the marketplace.
Source: adapted from sophia author james howard