Promotional mix

• What is the main focus of business promotion?

  To promote goods and services
• What is the purpose of promotion in marketing?

  To make customers aware and persuade them to buy
• What are the two key objectives of promotion?

  Awareness and persuasion of customers
• Why is awareness important in promotion?

  It informs customers about product availability
• What is the promotional mix?

  A blend of promotional activities for marketing objectives
• What are the key methods of promotion?

  • Advertising
  • Sales promotion
  • Direct marketing
  • Personal selling
  • Public relations
• What is advertising?

  Paid promotion in various media
• What is sales promotion?

  Offers like buy one get one free
• What does direct marketing include?

  Direct mail and other media
• What is personal selling?

  Sales teams meeting prospective customers
• What is the role of public relations in promotion?

  Building awareness of goods and services
• What factors influence the promotional mix?

  Product life cycle, nature of product, competition
• How does the product life cycle affect promotion?

  Different stages require different promotional methods
• What promotional methods are used for new products?

  Methods focused on building awareness
• What promotional strategies are used for products in decline?

  Sales promotions to encourage purchases
• How does the nature of a product influence promotion?

  Impulse buys need less promotional activity
• Why is competition important in deciding promotional methods?

  To gain an advantage over competitors
• How can a business replicate a competitor's successful promotional strategy?

  By analyzing and adopting effective methods