marketing management meaning and significance of promotionotion

MARKETING AND SERVICE MANAGEMENT MEANING AND SIGNIFICANCE OF PROMOTION

TEAMNAGARJUNA REDDY.YCHARAN.JVIMARSHINI.GPUNITHA.M

PROMOTION MEANING

Promotion is a term used frequently in marketing and is one of the market mix elements.

Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty .

It is one of the four basic elements of the market mix, which includes the four P's: price, product, promotion, and place.

Examples: NIKE Nike provide its customers flat 40% reduction on the product MRP. The objective of using this techniques is to attract more new customers and increase footfall of the store. The other objective of Nike is to Clearance the stock and bring the new brand.

LAYS To go Australia

Duke Orange Ride

Harley Davidson Safe Helmet To Drive

Promotion is also defined as one of five pieces in the promotional mix or promotional plan.

Personal selling Advertising Sales promotion Direct marketing Publicity A promotional mix specifies how much attention to pay to

each of the five factors, and how much money to budget for each.

A sale is the exchange of a commodity for money or service in return for money or the action of selling something.

The seller or the provider of the goods or services completes a sale in response to an acquisition, an appropriation or a request.

There is a passing of title (property or ownership) of the item, and the settlement of a price. A seller agrees upon a price which he willingly gives ownership of the item.

PERSONAL SELLING

Examples: In India, there are promotions as: Buy two 2litre bottles get 1litre bottle free. New media in which a special code is at the back of the cap and you need to text to code to a specific number and there will be a lucky draw out of it. Vouchers and coupons to get free bottles. Buy Dominos Pizza and get 500ml bottle of coke.

Advertising (or advertizing) is a form of marketing communication used to persuade an audience to take or continue some action, usually with respect to a commercial offering, or political or ideological support.

In Latin, ad vertere means "to turn toward". The purpose of advertising may also be to reassure employees or shareholders that a company is viable or successful.

ADVERTISING

Advertising messages are usually paid for by sponsors and viewed via various old media; including mass media such as newspaper, magazines, television advertisement, radio advertisement, outdoor advertising or direct mail; or new media such as blogs, websites or text messages.

Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.

Examples Coupons Point of purchase displays

Prizes Product Samples

SALES PROMOTION

DIRECT MARKETING

Direct marketing is a channel-agnostic form of advertising which allows businesses and nonprofit organizations to communicate straight to the customer, with advertising techniques that can include cell phone text messaging, email, interactive consumer websites, online display ads, catalog distribution, promotional letters, targeted television commercials, response-generating newspaper/magazine advertisements, and outdoor advertising. Amongst its practitioners, it is also referred to as Direct Response.

Publicity is the movement of information with the effect of increasing public awareness of a subject. The subjects of publicity include people (for example, politicians and performing artists), goods and services, organizations of all kinds, and works of art or entertainment.

PUBLICITY

SIGNIFICANCE OF PROMOTION

Promotional supplies such a wrist band, printed bags, Printed tags, printed t-shirts , etc. offer an affordable way to promote your brand or product .

they are useful to create brand awareness and give measurable results.

The nature of different types of promotional supplies don’t require you to spend huge amount of money on advertising as the promotional supplies , which you give way to your prospective customers will do half for you.

Giving way useful promotional items like wrist band printed bags, Printed tags and other such item will reflect your professionalism and help in boosting the image of your brand or company.

It is advisable that purchase marketing supplies with a proper plan and with a clear purpose and messages aimed at targeted customers.

Examples: Wrist Band Printed Bags American Tourister

Printed Tags Printed T-Shirts