Answered: What are the four elements of the…

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter17: Integrated Marketing Communications, Advertising, And Public Relations

Section17.7: Promotional Mix Effectiveness

Problem 1LO

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What are the four elements of the promotion mix? What factors influence the choice of the elements selected?

Expert Solution

Introduction

A promotion mix is the analysis of strategies and techniques in promoting the products and services by using methods that helps in advertising and promoting the product and services.

Explanation

Four key elements of promotion mix:

Advertising: Advertising is the paid form of promoting goods and services by using sources such as magazines, newspapers, and television or radio articles.
Public relations: Public relation helps in building a positive public image in terms of promoting the products and services and to maintain the goodwill of the brand.
Sales promotion: Sales promotion is a measure used to provide product offers, incentives, and sales offer to the customers for a short period so that the sales rate increases.
Direct marketing: It aims at specific customers, this technique is used to retain the existing customers by providing them specifications regarding the products and services.

Factors affecting the selection of promotion mix:

Choosing a promotion mix can be technical in terms of products that are complex while on the other hand, it can be easy in products that are not complex.

basic factors that a marketing manager has to analyze while choosing a correct mix are:

Nature of the Product
Nature of the Market
Product Life Cycle
Market Penetration
Market Size
Characteristics of Buyers
Distribution Strategy
Pricing Strategy
Customer's buying behavior

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