Social Media And Marketing Essay

1366 Words6 Pages
Changes in the market and emerging promotional tools There has been a tremendous amount of change in the global markets in the past few years. This has predominantly due to the fact that there is a shift in the consumer mindset, consumption patterns, changes in demography and organizational attitude brought through by advancement in technology. This has led to a change in marketing strategies and practices across the world. Marketing thinkers and companies are prompted to frequently re-think their strategies and adopt new theoretical and practical approach to address specific marketing changes and also to think beyond the scope of traditional marketing theories (Constantinides, E, 2006). A majority of the changes were influenced by the…show more content…
‘Promotional Mix’ is hence part of the wider marketing mix. (Guide to Promotional mix, www.cim.co.uk, 2004). Fig: 1.0 gives an illustration about the same. The success of this model works on a structured, balanced and planned use of the tools. The combination of the five tools one uses depends on the target audience, the message one wishes to communicate and the budget available. (Guide to Promotional Mix, www.cim.co.uk, The Chartered Institute of Management 2004) Fig 1.0 Advertisements and Sales promotions can be quite useful to garner market share provided the target markets and the financial implications have been identified and justified. Public Relations is another important aspect as it helps to shape a brand and helps the company maintain its reputation intact. (Guide to Promotional Mix, www.cim.co.uk, 2004). Promotional Mix, widely practiced still, has its own limitations and shortcomings. An example would be the advertising costs as research has proved that people need to see an advertisement at least
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