In 1960, Edmund Jerome McCarthy coined the term “Marketing Mix” which included the 4P’s of Marketing in his book Basic Marketing: A Managerial Approach. Later on, Dr. Philip Kotler published in his book “Marketing Management” which gave marketers a much broader perspective.
Marketing promotion usually involves delivering the products and services to the end users. There are several tools which are used for the promotion of products and services. These can be either paid or not paid depending upon the kind of product being marketed.
In this article, I will be focusing on “Promotional Mix” and how businesses can use promotional tools to increase their sales. The promotional mix includes
b) Public Relations
c) Personal Selling
d) Sales Promotion and
e) Direct Marketing.
Under Advertising, businesses can either go with the traditional form or the new age of digital advertising. Both offer a unique output and should be selected based on the target group (TG). For example, if your TG is millennial then it will be wise to go for platforms like Facebook, Instagram, YouTube, etc and if your TG is based in rural markets or much older generation then it would be wise to go ahead with traditional avenue with hoardings, radio, TV, newspapers, etc.
Public Relations are much different from ads and have more personal influence on buyers. PR can be done by hiring dedicated advertising PR agencies that will build a story around your brand and influence buyers with trust. It is fairly expensive than the advertising medium.
Personal Selling should be adopted by the business when the product is of high value like a car, villa, yacht, etc. The salesperson will have the skills to gauge the need of the buyer and can tweak his selling approach. Personal Selling is very personalized and also expensive as you need sales force to sell.
Sales Promotion should be used to push the products to the buyers. Sales Promotion should be done with caution as too much of it can hamper your brand reputation. A quick response is generated by using sales promotion techniques. If advertising is related to “buy our product” then sales promotion is the representation of “buy the product now”.
Direct Marketing can take a form of telemarketing, online marketing, direct mail. Over the years, direct marketing has become a part of digital marketing as more and more personalized communication can be used. For example, a mass email can be sent but with a personalized touch to it.