Busn105 Unit 4

The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.

Promotion is about how the customers are informed about a particular product or service and plays a vital role. So promotion basically carries the 3 Ps of the marketing mix by presenting that all important information to the right target market.

Promotion is a way company communicates messages on what the pruct does and what does the product can offer customers. It includes below elements:

The entire purpose of promoting products is to create awareness, persuade and inform customers about your product or service while identifying key features compared with competitive products. There are many benefits of performing successful promotion such as increasing sales and acquiring a greater market share, showing your products features and exposing competitive product’s flaws, teaching the market benefits of your product, explaining different usage of your product, conveying your brand image of your organisation and promoting new and improved features of your products.

Explain the role of promotion within the marketing mix for a selected product or service.

Promotion: promoting product to target market which may focus on acquiring new customers or retaining customers.

Information to customer: - the main motive of promotion is to provide the necessary information to the customers regarding the product such as benefits or ingredients etc.

In this paper about the Marketing Mix, it will explain the elements of the marketing (product, place, price, and promotion). I have enclosed a chart about the Pricing Strategies Mix. I will also be selecting an organization by the name of Target in which I am familiar with and will describe the four elements of the marketing mix and how it impacts the organizations developmental marketing strategies and tactics.

A successful company knows how to efficiently publicise its operation as well as its products to customers. Promotion consists of branding, advertising, PR, corporate identity, social media outreach, sales management, special offers and exhibitions. Promotion must attract customers ' attention, be interesting, include a coherent and appropriate message and show customers a reason why they should select its product rather than anyone else in the market.

Promotion refers to an attempt to increase sales of a product through the use of various communications. These include advertising, public relations, sponsorships, direct mail, in-store displays, website banners and other activities that get your product in front of consumers. These communications include direct and indirect sales messages. A direct sales message would include a buy-one-get-one-free promotion, sale, rebate or coupon. An indirect attempt to increase sales would include trying to increase brand awareness or preference through free samples, contests or event sponsorships.

Webster’s II New College Dictionary12 offers several definitions for promote/promotion including ‘to move forward’, ‘to raise up’, ‘to further’ and ‘to encourage popularized by publicity’. Moreover, the promotion term was used in a variety of literature, such as, sport, marketing, and business. The Wikipedia website presents a wide variety of the definition of promotion. In many sports leagues, promotion is “a process that takes place at the end of each season in which teams are transferred between divisions to the higher level.” Furthermore, promotion is determined in marketing as “disseminating information about a product, brand or company

Advertising is bringing a product (or service) to the attention of potential and current customers. Promotion is a way to increase customer awareness of a product or a brand, generate sales and create brand loyalty.

Promotion is all about communication and trying to let your target market know that you exist and that you want them to use your products and services, it is also a competitive strategy because you want your target market to come to you so you have to persuade them that your product or services are better than your competitors.

Promotion: - represents all of the communications that a marketer may use in the marketplace. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion.

The article summarizes how Jerome McCarthy who referred to the marketing mix as the four P's, defines how the elements are to be used. He states that marketers have these elements available to them to assist in developing a marketing strategy. However, the elements are more useful in developing long term strategies versus short term strategies from a marketing perspective. The article continues to provide a history of how the marketing mix evolved and how several variables were added to the original four P's outlined by McCarthy, but most academically accepted are product, place, price, and promotion.