2.3 Marketing Mix - Promotion

Question 1

How do you select the right Promotional Mix?

Answer 1

Raise awareness of the product/service

Inform potential consumers about new and existing products

Question 2

What are the suitable Promotional methods for a growing business?

Answer 2

Advertising
Sales Promotion
Direct Marketing
PR (Public Relation)
Sponsorship

Question 3

Describe/explain the suitable Promotional methods for a growing business

Answer 3

Advertising:
This involves the media which is called above the line promotion. It can be done using advertising agencies or through media advertising. Businesses have to pay the media to promote their products

Sales Promotion:
This refers to marketing activities designed to attract the consumer attention to a product to increase and the main techniques used are discounts, games/competitions, BOGOF and point of sale promotion

Direct Marketing:
The business contacts the customer directly and this is often used by Banks or Financial Services. It’s also known as junk mail by customers as most of it is not wanted. Eg - vouchers/coupons

Public Relation:
A way to communicate with customers. The PR dept of a company will provide the media with information about the product and services of the company using press releases. The PR dept will also deal with bad publicity by showing the business in a more positive light. Eg - Coca-Cola vans were dotted around locations and people can get personalised products.

Sponsorship:
This involves paying a sporting event, team or TV show and in return, the business can display its name at the event. Eg - Emirates sponsor Arsenal.

Question 4

How do Promotional activities enable growth?

Answer 4

They help to establish the brand name more across large audiences