Search results
Results From The WOW.Com Content Network
It is believed that there is an optimal way of allocating budgets for the different elements within the promotional mix to achieve best marketing results, and the challenge for marketers is to find the right mix of them. Activities identified as elements of the promotional mix vary, but typically include the following:
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.
Sales promotion is one of the elements of the promotional mix. The primary elements in the promotional mix are advertising , personal selling , direct marketing and publicity / public relations . Sales promotion uses both media and non-media marketing communications for a predetermined, limited time to increase consumer demand, stimulate market ...
Digital marketing mix is fundamentally the same as Marketing Mix, which is an adaptation of Product, Price, Place and Promotion into digital marketing aspect. [48] Digital marketing can be commonly explained as 'Achieving marketing objectives through applying digital technologies'.
Examples of variable characteristics are: interest rates, location, date, and region of production. The sum total of the following characteristics is then included within the original price of the product during marketing. Variable pricing enables product prices to have a balance "between sales volume and income per unit sold". [32]
The promotional mix is the specific combination of promotional methods used for a brand, product or family of products. [17] Advertising is best treated as a multiplier that can leverage other elements of the promotional mix and marketing program. [18] Therefore, advertising must be considered as part of a broader marketing and promotional program.
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.