Promotion as a component of the marketing mix
Promotion is our topic today, continuing our 12 Ps Marketing series.
What is a promotion?
Promotion can be defined as whatever a company does to generate demand for its product (including actions and strategies). It consists of messages, communications, and content to influence consumers to make a purchase.
Promotion is the act of engaging with a target audience at the ideal moment. It spreads the word and is a successful approach to engage customers during a sales campaign. A promotional strategy seeks to explain to customers why they might require a certain product and demonstrate to customers the benefits of choosing one product over another.
Product promotion, which is at the heart of marketing communications, disseminates targeted and valuable advertising through well-liked channels, including social network platforms such as Instagram, Facebook, Twitter, TikTok, to name a few, print advertising, television commercials, email marketing campaigns, word-of-mouth propagation, social media marketing, and more.
Marketing decisions made about promotion
It takes more than just having a fantastic product offering or the lowest pricing to make a product successful. The primary component of the marketing mix that would make the product available to a wide audience is promotion. As a result, the promotional messaging should constantly be tailored to the distribution channels, as well as the target demographic. The promotion strategy to be used to educate potential consumers about the product and encourage them to learn more about it is crucial. The decisions to be made here are outbound vs inbound marketing, the right mix of traditional media and digital media or both, budget, and marketing technology platforms.
Questions usually asked when making the decisions are:
When is the best moment to communicate with the intended audience?
Which media will be used by the intended audience to obtain information?
Which advertising strategies will be most effective for the intended audience?
Which media are the most economical and successful for promoting products?
Which demographic should be included in your intended audience?
Where do your competitors use their marketing funds and advertising resources?
In summary, the right timing, message, and location are very crucial in promotional marketing so knowing where to find your market, how to design a message that will persuade them to look for your goods or services, and choosing the most effective way to communicate that message are the three key components of promotion.
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