In the words of Whitehead “In case of an expanding market, the firms may stand to gain by following the methods of Aggressive Selling. Most companies have pressure for short-term profits, a drive that sales promotion satisfies. When the product reaches maturity stage, reminder advertising would be enough as customers are already aware about it. Manufacturer makes, all efforts to sell maximum amount of his product and in his efforts, he uses or tries to use an ideal promotional mix so that the main objective of the business to sell maximum amount of his product and earn profit. Marketing strategy is all about selecting the correct target audience, positioning the brand, proper pricing, etc. Factors affecting the choice of promotion method Promotion is a critical determining factor for the success of a marketing program. Everything you need to know about the factors affecting promotion mix. For instance, if the customers are concentrated in a particular locality, personal selling is likely to be more effective. But during the last stage of the product when its sales are declining, it may be decided to make drastic cuts on promotional efforts. Promotional strategy and promotional mix change from market to market. If Brand value is higher, then only reminder advertisement is enough but low brand product requires blending of advertisement and personal selling. The factors influencing growth monitoring and promotion after 9 months in children have not been fully investigated. The tools of sales force promotion are bonus, sales force contests, and sales meetings and conferences. This helps to build strong consumer demand and brand loyalty. Industrial strategies are mostly the push type of strategies relying mostly on personal selling. Similarly, other variables like sex, fashion, age, education religion, place of residence etc., are worth consideration whereas these variables have no meaning for industrial buyers. Designing a proper promotion mix is called promotional strategy. The image and reputation of the brand cannot be separated from the corporate image and reputation of them. Managers who are being held accountable to produce results often use price discounts or coupons, since they produce a quick and easily measured jump in sales. If the product brands are differentiated (e.g., Ponds and Lakme), the producers have to depend upon advertising. Thus all tools of promotion work together. Hence, Promotional Strategy changes from time to time. Disclaimer Copyright, Share Your Knowledge Demand for daily use goods can be created easily with advertising while speciality items may require personal selling efforts. A firm with huge promotional budget can spend on all promotional activities. It's crucial to build and maintain a good network of suppliers. This is done in case of daily usable goods and articles like salt, toothpaste, washing powder, detergents, soap etc. These factors are called product-market factors. Prehistoric "Hell Ant" Encased in Amber Seen Biting its Prey for Over 99 Million Years, Top Things to Consider Before Buying an Electric Car, Mars Curiosity Rover: What You Should Know About Its Long Mission on Mars, Researchers Report Progress on Greener, More Sustainable Hydrogen Extraction from Water, French Man Dies From Rabies After Contracting Bat Virus, Coral Reef Restoration Needs Researchers Help, Water May Have Been Recently Carried by Meteorites From the Dawn of the Solar System, The Legendary Sports Handicapping Expert Cody Vaujin Shares His Best Tips for Scaling a Business, SpaceX Kicked Off 2021 With First Launch This Year Sending Turksat 5A to Orbit. E.g. Similarly, convenience items like gift packs are promoted through personal selling combined with window display, while many of industrial products most of high unit value require a quite different mix. How to blend all these four elements of the promotion mix, the amount to be allocated for the various forms of promotion, such decisions are influenced by the following factors: The nature of the product determines the form of promotion undertaken by the marketer. 1. If you want to successfully earn a promotion, then make sure to identify the skills that are required for the position that you are looking to â¦ The factors affecting promotion mix are:-, 1. FACTORS AFFECTING THE â¦ Personal selling may be fit for non-branded products. Complex and technical products like computer requires personal selling. Pricing decisions are crucial in deciding promotional strategies to be used as a part of promotional mix. Different promotional tools are effective at different stages of buyer readiness. Advertising in reputed magazines and journals is very costly, but can attract the status conscious customers towards the product of the firm. Hence product and its nature amend decisions regarding promotion. Repeat sales are stimulated and product substitution is not possible. The selection of proper marketing promotion mix will only ensure better growth with increase in profits. Align Sales and Marketing for High Growth By now, factor 1 and factor 2 should have demonstrated the central role of marketing in the new B2B paradigm. The marketer may depend upon mass advertising media to develop brand recognition among consumers, which creates a favourable disposition towards the product. There are factors responsible for rapid growth of sales promotion discussed below. Advertising increases whereas sales promotion declines. Advertising is used for such products on a mass scale at a high frequency. 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