Question

Discuss the marketing mix, specifically promotion’s role, goals, and tasks, as well as the elements of the promotional mix.
Discuss the effects of advertising on market share, consumers, and employees.

Answer 1

Answer:

Marketing mix is model that combines the elements of marketing, controls them and direct them towards achievement of desired response from the target market.

Broadly there are 4 elements in marketing mix:

1.       Product- A product that must be of some value to the customer. The marketer must carefully design it features, USP etc.

2.       Price- The value we will get in exchange of the product. Cost and the demand of the product determines the price.

3.       Place- The product must be available at the right place and at the right time.

4.       Promotion- Communicating about the product to its potential market.

PROMOTION

Roles

·         Providing information about the product offered by the producer, its uses, features, instructions, USP etc.

·         Brand awareness – People tend to remember more when they frequently hear or see particular thing more frequently same in the case of awareness about the product.

·         Building more sale and profit

Goals

To induce and modify the behavior of the consumers to persuade and remind them for their product.

Tasks

·         Inform

·         Persuade

·         Remind

·         Connect

Generally two or more tasks are tried to accomplish at the same time.

Elements

·         Public relations: Activities to create a positive image and raise goodwill in order to increase sale

·         Sales Promotion: Discounts, displays, demonstrations etc.

·         Direct marketing: It involves directly contacting with the target customer through calling, clipping a coupon, ordering online and stores.

·         Personal selling: The seller personally reaches to the consumer face to face such as door to door selling.

·         Advertisement: It is a non-personal and paid form of promotion. It involves using billboards, magazines, advertisement over internet, TV and radio advertisement.

EFFECT OF ADVERTISEMENT ON:

·         Market share: Market share rises when more and more customers are consuming the product. Usually for small market share advertising costs more as against older brands as they are already known by the consumers.

·         Consumers: Advertisement has the ability to affect the beliefs, taste and attitude towards the product. Therefore it is mandatory to put health warning messages in case of cigarettes.

·         Employees: Advertising creates a positive image in the eyes of people which also includes potential employees motivating them to be the part of such organization.