If a product is frequently purchased by the end-consumers. Promotional Strategy 15. This will create ambiguity in the mind of the consumer and he will wander here and there in search of “what the company is trying to convince me?” As Kotler and Armstrong (2006) have pointed out “IMC builds brand identity and strong customer relationships by tying together all of the company’s messages and images. Social media and online media may be immediate, but users must be careful about what they post and their privacy. affect the Marketing System of a country. These factors may include: The list of factors stated above is not complete. Welcome to EconomicsDiscussion.net! As multi channel media increases in reputation, the problem of IMC is to make sure that the IMC campaign reaches its planned audience. Identifying target audience – If you don’t know who your audience is, you can’t decide on what to communicate, how to communicate, when, where and who will communicate the company’s message. (Perkin, N. 2003). See the license for more details, but that basically means you can share this book as long as you credit the author (but see below), don't make money from it, and do make it available to everyone else under the same terms. Such as, for … Figure 11.5 Factors That Influence Selection of Promotion Mix. If the brand is priced lower than the competitors’ price, only little promotion is needed. Promotional strategy should be formulated only after considering the relevant factors. Has this book helped you? During the maturity stage, advertising and personal selling are needed to meet competition. All these types of products need different promotional tools. The risk is that consumers may begin to expect coupons and not want to buy items without a special promotion. Hence first the marketer must have an up to date information about who his buyer is and depending upon the characteristic and nature of his buyers the marketer decides upon that promotion mix which will most appeal to his class of buyer. This helps to build strong consumer demand and brand loyalty. To give the customer detailed and personalized information in case of consumer products heavy emphasis is placed on advertising. Aggressive selling answers the question —how much does the firm gain (in terms of sales volume with profit) by employing the various resources? Examples are- sales contests for salesmen, dealer contest for intermediaries, incentives and commission for the salesman as an reward for selling the product. They affect the marketing environment of a company considerably. During the conviction stage, personal selling is very effective. But, if the market is static manufacturer of a new product will have to be much more aggressive to capture the established market of competitors”. The promotional strategy also depends upon the channel or the route through which the products flow from the firm to the consumer. In an efficient communication mix, care should be taken for deciding promotional tools and combination of those for achievement of objectives. It is the prime factor affecting the promotional mix. This had led to change on the percentage of promotion spent on advertising. Notify me of follow-up comments by email. Different objectives can be achieved by using different tools of the promotional mix. Industrial and specialty goods are promoted through technical journals and through salesmen. It is a cycle called as product life cycle which involves steps from which it passes. Various aspects are required to study before setting prices which includes profitability, skimming, market share, survival, estimated demand curves etc. For example, many smaller companies may lack the money to create and run commercials on top-rated television shows or during the Super Bowl. If a product is of complex nature. However, the publisher has asked for the customary Creative Commons attribution to the original publisher, authors, title, and book URI to be removed. Marketing Mix. In this efforts, the manufacturer uses all his resources to get the objective of a higher sales volume by expanding the market for the product. Complex and technical products like computer requires personal selling. The number of people exposed to a message. For effective communication to occur, the receiver must interpret the message as the sender intended. If you use any coupons or promotions when you buy a product, the advertiser knows which vehicle you used to get the information. When market is wide with a large number of buyers, advertising is preferable. Organisation Related Factors. has often been resorted to by the government. At the comprehension stage, advertising and personal selling lay a greater role. Organization now calls that the activities that the marketing department carries out should be measurements appropriately and expectations from marketing strategy. Additionally, per the publisher's request, their name has been removed in some passages. Pull strategy is responsible for increase in demand and creation of want for product. Product complexity affects selection of promotional tools. Naturally, in case of a limited market, personal selling is more effective. The promotion task counts upon the type of product marketed. Viral marketing is an IMC technique that is mostly used for trendy brands, Marketers are increasing acknowledging Viral marketing as an important IMC tool because it offers the traditions benefits and effectiveness of advertising. Companies must be aware of the fact that the face of marketing communications is continuously shifting and, to be successful in the future, the Marketing manager needs to utilize the novel emerging communication techniques. Manufacturer makes, all efforts to sell maximum amount of his product and in his efforts, he uses or tries to use an ideal promotional mix so that the main objective of the business to sell maximum amount of his product and earn profit. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on the UKDiss.com website then please: Our academic writing and marking services can help you! The results of IMC are better communication that transform into consistent sales volume. first, the increasing education level of consumers, and second, scientific and Technical progress. Stages in the Product Life Cycle 4. Perceptual processes include how a person decides what to pay attention to and how to interpret and remember different things. If you do not hear someone correctly, misread information, or misinterpret a message, you might think a product or service provides different benefits or is easier or harder to use than it really is. Market Penetration 5. Direct marketing sales promotion and publicity help reach potential customers and induce trail purchases by offering coupons and free samples. Push strategy is pushing promotion through intermediary levels of distribution like wholesalers, retailers. Targeting the accurate event will take a lot of research on behalf of the organization while the exposure created by sponsorship is very short lived (Crow 2003).
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