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Write a brief report on the various promotion mix tools - explain the characteristics for each tool (e.g. advertising, sales promotion, personal selling, and social media) and state their advantages and disadvantages.
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The tool of the Promotion Mix is one of the mixture and the analysis of the brief business tool which would help to blend, maintain along with the ability to increase the demand which would help to balance the goods and services. Through the process of the Promotion Mix, it is fine integration of the Advertising, Personal Selling along with the process of the Sales Promotion, Public Relations andDirect Marketing.
1. Advertising: The promotional tool of the advertising is of the highest paid forms which cover the non-personal presentation along with the ability of the promotion of goods and services (Lovelock, 2015). It is also defined as an identified sponsor which can also cover on the basis of the exchange of a fee. It would be a mixed advertising procedure which would make the marketer which would also be an ability that would help to build a pull strategy. Advantages: The insights of the customer would also be able to gather the product at least once. It would also be an insight that can help to complete information and would integrate with the attractive graphics in relation to the product or service which would help to gain insight. Disadvantages: It's highly costly.
2. Personal Selling: It is also one of the traditional forms and also integrates with the promotional tool which would help to overcome with the salesman interacts how it would be able to handle and interact with the customer directly. Advantages: it is one of the lucrative forms of that would help to interrogate the face to face interaction which would be making the company representative along with the customer to be able to objective and it would be able to influence on the basis of the customer to purchase how it would make the product or services Disadvantages-: It would personal selling dependent on the company representative, in case he is not trained it would lead to disaster repercussion effects on the company.
3. Sales Promotion: It would be also be integrated on the basis of the sales promotion that would allow integrating the short term incentives which would make the customers and would be outlining on the basis of the increased sale in a certain period. It would be covering the sales promotion schemes which would also be floated in the market along with the time of festivals and would be leading to the end of the season. Advantages,-: the company would have invested in the discounts, coupon, etc. which would be covered on the sales promotion schemes. Disadvantages-: As soon as the sales promotion, stops the company increased short-term profits would also stop and it would be restricted to attract the same old existing and the new customers.
4. Public Relations: It is an onset of the marketers which would help to build on the step for the favorable image that can pertain with the market by having relations along with the basis of the general. It would also be building on the basis of the companies that would perfectly be able to carry out the several public relations campaigns which would certainly be able to make the objective and include on the basis of the support to be done to various people associated and would be able to include the directly or indirectly. It would also help to ascertain how the public comprises in relation to the customers, employees, suppliers along with building around it. Advantages: it would help to gain publicity and also help to form a public relations which would be exercised by the company and it may also be able to use with the intention to make it as per the newsworthy information
Disadvantages: In case the publicity becomes negative, the people would form the same perception (Kotler, 2018).
Events & Experiences
This is a paid form of the events and the experience and also forms an opinion about the product, It is mainly used by the new products which tend to capture with the customers and it shows how the product is. It is mainly the customers to show how it would be a free form of interaction and how there can be related to the customer's keynotes.
The advantage is that the customers would be able to get interaction, knowledge and also a direct opinion about the product.
The disadvantage would be related to the close interaction but would only be able to capture a small unit of the customers. If used for the high scale products it would be leading to the small capture and influence of the market. It can prove to be highly costly if the employees do not take it justifiably.
It is also used as one of the consumer direct channels which would help to reach out to the goods and the services along with the consumers which would be done without involving the middle man in between (Kotler, 2018). It would also include channels such as direct mail, telemarketing, catalogs, interactive TV. direct mail and the various mobile services.
It is a direct approach through the mail, catalogs, telemarketing and also with the other direct response. For the consumers, the benefit is to connect with the company directly and know about the insides, while for the company they can create a niche market and target, such consumers.
If the direct marketing remains persistent and increases its frequency, it can also come under the spam category or the consumers would choose not to buy the product, due to the increased negative reviews of the pressurizing the customers.
It refers to the evolving trend and also covers the marketing which is based on the transaction based effort of the given conversation. It also segregates and also helps to understand how there can be a conversation which would be based on the given digital type of marketing. It is not the same as the online shopping and integrates the interactive tool of facilitating internet technology (Kotler, 2018).
This form of marketing helps in the influencing the customers and also helps to connect on the basis for the unique responses. It tends to make a mar on the customers.
The interactive disadvantages can be that the customers can easily compare and flip after evaluating the online interactive company tool.
Word of mouth marketing
It is an unpaid form of marketing and takes the form of the oral and the written, which can be good and bad reviews. It tends to also capture the mindset of the customers and also helps in considering the discussion and spreading the details about the products or services within their communities.
It is also a form of the marketing buzz which can take the form of the influencing the large part of the customers and also considering the original marketing message. It is influential and also helps the product to gain positive momentum in the market.
The disadvantage can be if there is a piece of negative news about the product, it can lead to the flip side of the positive sale of the product, Not only the customers would hate it, stop buying it but also make sure that the product is wiped out of the market.
Maggi, there was news that it had a lead in its sample after the Food Laboratory of India found it later on leading the banning of the product and eventually, Maggi was sold in the black market and all its products were wiped out of the market.
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