ANALYSIS OF PROMOTION MIX AS TOOLS OF MARKETING COMMUNICATION
Chapter one
1.0 Introduction
When selecting how to effectively use the marketing communication mix to achieve organisational goals, it is critical to assess the relative strengths and weaknesses of each promotional mix component.
Many businesses recognise the importance of integrating their diverse marketing communication initiatives, such as media advertising, personal selling, sales promotion public relations, and direct marketing, in order to create more successful marketing communication.
The organisation also produces its integrated marketing mix, which includes pricing, place/distribution, product, and promotion, as well as the previously mentioned promotional mix.
Integrated marketing communication refers to the combination of all of these promotional methods with other components of the marketing mix in order to acquire a competitive advantage. Marketers used these methods to create a promotional mix that met their customers’ demands and wants.
Furthermore, the organisation always determines its overall budget first (which is often defined in the marketing another business plan) and then decides on the best strategy to leverage the various elements of the mix outlined above in order to maximise the return on investment.
It should also balance the many elements of the promotional mix to not only build an integrated approach, but also to its marketing message, ensuring that each component receives adequate resources for success.
In marketing communication, promotional mix are significant instruments that any organisation should consider in order to achieve organisational goals through marketing strategies that satisfy the demands and desires of customers.
The main focus of this research is to discuss the organization’s promotional mixes, which include.
Advertising is one of the promotional mix tools used by businesses to penetrate, inform, and reach a large, geographically dispersed audience with a high frequency; low cost per exposure,
but overall costs are high; consumers perceive advertised goods as more legitimate, dramatises the company/brand, builds brand image, which may stimulate short-term sales; impersonal and one-way communication.
Advertising is viewed as a means of communication used by a firm to disseminate information or raise awareness about its products and services to a specific audience.
In this perspective, advertising is defined as any paid form of non-personal communication delivered through media by an identifiable sponsor.
Personal selling, on the other hand, is the most successful method for influencing buyers’ preferences, convictions, and behaviours. Personal engagement enables feedback and modification.
Relationship-oriented, buyers are more attentive, and salespeople symbolise long-term commitment, which is the most expensive advertising weapon. The sales force is the interface between an organisation and its customers.
They have dual roles in many ways. They provide information in the form of a massage firm organisation to clients and return comments to the organisation.
In intimate communication, feedback is frequently quick through verbal acknowledgement or gesture, but in impersonal communication via mass media, it may have to be derived from other indicators such as audience number, circulation, or monitoring by sampling opinions.
The notion of marketing communication states that there must be communication, massage, channel, audience, and feedback. The communicator is the message’s sender, also known as its source.
The message is the set of meanings sent to and received by the audience. While channels are the means by which the message can be conveyed to the audience. The audience is the recipient or destination of the message.
On-the-order sales promotion is one of the many ways to communicate with clients.
In recent years, the requirement to enhance periodic sales during an economic downturn has necessitated the extensive use of sales promotion efforts to restore normal sales trends. It is used to remind customers about the presence of the company’s products and services.
Sales promotion refers to efforts that are commonly referred to as advertising but do not include mass media. The primary benefit of sales promotions can be noticed at the point of purchase.
It facilitates advertising and personal selling, although it is rarely used as the primary promotional technique. Sales promotion approach is designed to provide something extra to the promotion in order to stimulate an exchange.
They can be used to attract new customers, encourage repeat purchases, and promote out-of-season products. In many highly competitive businesses, the quality of sales promotion might be the decisive factor in acquiring customers.
Another component of the promotion mix is public relations, which is one of the most significant instruments for developing relationships with firms’ audiences. Whether inwardly or externally.
Public relations function as a planned, ongoing effort to maintain mutual understanding and goodwill among organisational stakeholders. It is utilised to spread positive news or tales about the organization’s products or services to the target audience. It is also incredibly credible and believable.
Many different types of news or stories are delivered to the public. i.e. Events and sponsorships are developed. Public relations was employed to contact numerous prospects who would have otherwise gone unnoticed in the promotional mix.
Dramatises the company’s product. Frequently, the most underutilised ingredient in the promotional mix. Relatively costly (definitely not a “tree” as many people believe).
Last but not least, direct marketing is part of the promotional mix that helps promote items from the point of manufacture to the point of sale.
Direct engagement with carefully selected individual consumers to elicit an immediate reaction and establish long-term customer connections. It can take many forms, including telephone marketing, direct mail, and web marketing.
There are four types of distractions: non-public, instant, customised, and interactive, which are ideal for highly targeted marketing operations.
1.1 Statement of General Problem
The current economic climate has compelled most businesses to sell and operate in a dynamic and competitive market. This has caused salespeople to engage in a variety of activities, including putting in a lot of time, energy, and travelling significantly,
as well as causing the organisation to embark on promotional activities in order to sustain the organization’s growth and meet the needs of its clients. The promotional mix in marketing communication contributes significantly and causes problems in the other direction. They are:
A Advertising
1. The company’s inability to plan its advertising budget.
2. The company’s incapacity to create PR plans and strategies.
3. Failure to ensure complete coverage of the market’s potential buyers.
4. The company’s incapacity to afford the opportunity to use hidden values and media.
5. The issue of one medium supplementing the other media in use.
6. Typically, the effect of advertising on sales is delayed.
7. Companies refuse to bring attention to changes in product features.
8. Inability to rectify inaccurate or bad impressions or rumours about the component or product.
B. Personal Selling:
1. The company’s incapacity to engage with customers and identify their genuine requirements.
2. Improper activity planning and coordination, implementation, and feedback collection.
3. Limited recognition of product offerings, particularly goods and services that are highly technical.
4. Most salesmen have poor quality personalities, particularly in their appearance, intelligence, and sense of humour.
5. The company’s failure to produce the correct product at the right time.
6. Discriminatory attitudes towards certain consumers and preferential treatment of some clients over all customers, notably in the realm of personal selling.
C Sales Promotion
1. Customers are not adequately informed about promotions.
2. The promotion may fail due to the customer’s conservative attitude, which stems from their doubts about the reliability of the sponsor, which is failing to deliver their prize claims.
3. When claims of benefits are not for products purchased, this could degrade the company’s image and possibly cause it to lose clients to competitors.
4. Ineffective ways for supplying products as samples to the target consumers.
5. Insufficient product testing will affect the sales promotion.
6. The lack of supporting events or creation is causing a difficulty with sales marketing.
D PUBLIC RELATION
1. Public relations’ incapacity to convey news or tales about the organisation and its product to the target customers
2. A lack of public relations officers to supply information to organisations about their customers.
3. Inability to provide volunteer activities for the community.
4. A lack of event engagement from public relations executions.
5. The Problem of Organismal Special Events
6. Unable to sponsor events.
E Direct Marketing:
1. The distribution route is really inadequate.
2. When they are unable to meet the demands and desires of the customer
3. Inadequate database management capabilities.
4. Direct selling can be a challenge for direct marketing.