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The promotional mix includes a variety of tools such as: Sales promotion includes a variety of activities such as special price offers designed to stimulate sales. Advertising: messages paid for by those who send them and intended to inform or influence people who receive them [19]
Marketers typically begin planning with a detailed understanding of customer needs and wants. A need is something required for a healthy life (e.g. food, water, shelter, emotional bonding); A want is a desire, wish or aspiration; When needs or wants are backed by purchasing power, they have the potential to become demands.
Sales Promotion is media and non-media marketing communication used for a predetermined limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions.
Promotional items as a tool for non-commercial organizations, such as schools and charities are often used as a part of fund raising and awareness-raising campaigns. A prominent example was the Livestrong wristband , used to promote cancer awareness and raise funds to support cancer survivorship programs and research.
The aim of promotion is to increase brand awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion. [1] Promotion is also one of the elements in the promotional mix or promotional plan.
The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target market". [2] Marketing theory emerged in the early twenty-first century. The contemporary marketing mix which has become the dominant framework for marketing management decisions was first published in 1984. [3]
Event management might be a tool for strategic marketing and communication, used by companies of every size. Companies can benefit from promotional events as a way to communicate with current and potential customers. For instance, these advertising-focused events can occur as press conferences, promotional events, or product launches.
A marketing mix is a foundational tool used to guide decision making in marketing. The marketing mix represents the basic tools that marketers can use to bring their products or services to the market. They are the foundation of managerial marketing and the marketing plan typically devotes a section to the marketing mix.
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