Evaluation

• What are the types of promotion in the promotional mix?

  Public relations, sponsorship, advertising, sales promotion, social media
• Why is finance available important in deciding the promotional mix?

  It determines the marketing budget and options
• How does the cost of advertising differ between TV and local newspapers?

  TV advertising is more expensive than newspapers
• How can social media benefit small businesses in their promotional mix?

  It tends to be cheaper than other options
• Why should a business consider rivals' actions in their promotional strategy?

  To adopt successful strategies used by competitors
• What is meant by target market in the context of promotional mix?

  It refers to the specific audience segment targeted
• If targeting high-income consumers, what type of promotion should be avoided?

  Sales promotion like discounts
• How does the nature of the market influence promotional decisions?

  It determines whether to target mass or niche markets
• What is the significance of the Boston matrix in promotional decisions?

  It helps analyze market growth and positioning
• Why is the nature of the product important in choosing a promotion type?

  It influences which promotions make sense
• In what scenario would a "buy one get one free" promotion be appropriate?

  For fast food products
• Why might a "buy one get one free" promotion not make sense for cars?

  Cars are high-value items, not suitable for discounts
• What factors should be considered when deciding on a promotional mix?

  • Finance available
  • Rivals' actions
  • Target market
  • Nature of the market
  • Nature of the product or service