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Promotion mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals
(i) Geographical coverage of method: A firm should choose promotion method that is most accessible to its customers.
(ii) Target market: A firm should choose a promotion method that addresses specific age or gender.
(iii) Cost of advertising: The promoter should consider if the chosen method of promotion is within his/her financial ability.
(iv) Nature of product: For products that require demonstration of how they have used choice of appropriate promotion method is necessary.
(i) It Promotes the Image of the firm: Advertising builds a corporate image for a company.
(ii) To Introduce New Product: One of the roles of advertising is to inform customers about the existence of new products in the market. i.e., creation of awareness
(iii) To Educate the People on the Uses of a Product: It educates consumers on the usage of product and the benefits to be derived.
(iv) Development of Large Markets: Advertising creates large market segment which leads to the development of larger markets.
Advantages of radio advertising:
(i) It is a very cheap means of advertisement, it is cheaper than television
(ii) It offers good target market selectivity; it is possible to select the required target market by sponsoring a suitable programme.
(iii) It has widest reception and is widely available.
(iv) It has relatively low cost, when compared with other media like the press and television.
Disadvantages of radio advertising
(i) In radio advertising, pictures of the product cannot be seen.
(ii) It gives short message which may be too brief to have to have any effect on the consumer.
(iii) Radio advertising has only audio effect as it appeals to the ears only
(iv) There is inadequate data on listening habits which can affect targeting negatively.
Advantages of television advertising:
(i) Television has large audience reach.
(ii) In this kind of advertising, there is more sensory stimulation as it gives live and direct display.
(iii) It brings high prestige.
(iv) The true form and colour of the product can be easily seen.
Disadvantages of television advertising:
(i) It is the most expensive medium of advertising.
(ii) There may be wasted coverage.
(iii) Impulse buying may be misleading.
(iv) Only people with television can be aware of the product advertised.
Distribution channel is the method a channel is defined as the path or route along which goods move from producers or manufacturers to ultimate consumers or industrial users.
(i)Distribution channel is to bridge the gap between production and consumption
(ii)Distribution channel is responsible for promoting the product
(iii)Distribution channel involves in creating contacts for prospective buyers and maintaining liaison with existing ones
(iv)Distribution channel help in understand the customer's need and adjusting the offer accordingly
(i)Nature of product
(ii)Nature of market
(i)Nature of product:-Nature of product has influence on the selection of a channel of distribution. In this case of industrial goods like machinery and equipment, the manufacturer sells direct to industrial user, but in the case of tools, sales take place through middlemen
(ii)Nature of Market:-Choice of suitable channel of distribution also depends on the nature of market. Location of the market and the buying habits of buyers are also analysed
(iii)Distribution expenses:-If the producer makes direct selling, he will have to spend o distribution
But, if the product gets goods respond from the dealer, a producer will prefer to sell through them to reduce his distribution expense
Marketing concept is a marketing philosophy which sees the consumer or client as the central focus of all the activities of an organisation because no organisation can survive without the continued patronage of its consumer
(i) Production concept: The production concept is the idea that a firm should focus on in relation to those products that it could produce most efficiently and that the creation of a supply of low - cost products would in and of itself create the demand for the product
(ii) Social Marketing Concept: Social marketing concept embodies a higher and more enlightened plane of marketing thought and practice. The concept has an emphasis on social responsibility and suggest that for a company to only focus on exchange relationship with customers might not be in order to sustain long term success
(iii) Consumer Orientation approach: Modern marketing concept is a concept that embraces understanding that marketing activities is consumer - oriented. This concept is very popular because the marketing activities of this concept is built on assumptions and application of thought like "More customers know what they need".
(iv) Integrated Organization effort: While an organization becomes larger and more complex, they tend to break functions into smaller units by assigning a group of staff to specialize in these activities. This allows the organization to manage the complexity of the organization. But with time, no decision maker can take good decisions with isolated information that they get from the information of the individual departments
(i) Convenience products: The convenience product is bought most frequently. A convenience product is a consumer product or service that customers normally buy frequently, immediately and without great comparison or buying effort
such as laundry detergents, fast food, sugar and magazines.
(ii) Shopping products: Shopping products are a consumer product that the customer usually compares on attributes such as quality, price and style in the process of selecting and purchasing.
Example:-Types of consumer products that fall within the category of shopping products are: furniture, clothing, used cars, airline services etc.
(iii) Speciality Product: Speciality products are consumer products and services with unique characteristics or brand identification for which a significant group of consumers is willing to make a special purchase effort.
Example:- include specific cars, professional and high prices photographic equipment, designer clothes etc.
(iv) Unsought products: Unsought products are those consumer products that a consumer either does not know about or knows about but does not consider buying under normal conditions.
Example:- invoices insurance, pre-planned funeral services etc.