Is Crowdsourcing the Future of Advertising?

Maybe. Right now it's too early to tell. There are many upsides, and many downsides. But as the downs fall on the shoulders of the creative talent, and the industry thrives on creativity,

Unit 16 Marketing mix

Promotional mix

From Wikipedia, the free encyclopedia

Not to be confused with Marketing mix.

There are five main aspects of a promotional mix. These are:

• Advertising - Presentation and promotion of ideas, goods, or services by an identified sponsor. Advertising is a form of nonpersonal promotion. It is when companies pay to promote ideas, goods, or services in a variety of media outlets. It can be found everywhere. With advertising, a company engages in a one-way communication to the prospect or customer

Examples: Print ads, radio, television, billboard, direct mail, brochures and catalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and emails.

• Personal selling - A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation. Basically personal selling is one-to-one communication between seller and prospective purchaser. It generates direct contact with prospects and customers. It is one of the most expensive forms of promotion.

Examples: Sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face selling or via telephone.

• Sales promotion basically represents all marketing activities other than personal selling, advertising, and public relations. Sales promotions are used to stimulate purchasing and sales and the objectives are to increase sales, inform potential customers about new products, and create a positive business or corporate image.Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.

Examples: Coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions, point-of-purchase displays.

• Public relations is paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media. Public relations activities enable an organization to influence a target audience. Most of the time, public relation campaigns try to create a favorable image for a company, its products, or its policies. Companies give news releases to announce newsworthy developments about a company's products or services, distribution channels, facilities, operations, partners, revenues and earnings, employees, and events. Publicity is one tactic that public relations professionals use. This means bringing newsworthy information to the public.

Examples: Newspaper and magazine articles/reports, TVs and radio presentations, charitable contributions (campaign to encourage businesses to donate computers to schools, donating to hospitals), speeches, issue advertising, and seminars.

• Direct Marketing is a type of advertising directed to a targeted group of prospects and customers rather than to a mass audience. Two forms of direct marketing are printed by mail, or direct by e-mail. The goals of direct marketing are to generate sales or leads for sales representatives to pursue. Direct marketing allows a business to engage in one-way communication with is customers about product announcements, special promotions, bulletins, customer inquiries, and order confirmations.

Examples: mobile messaging, email, interactive consumer websites, online display ads, fliers, catalog distribution, promotional letters, and outdoor advertising.

Corporate image Corporate image may also be considered as the sixth aspect of promotion mix. The Image of an organization is a crucial point in marketing. If the reputation of a company is bad, consumers are less willing to buy a product from this company as they would have been, if the company had a good image.

Sponsorship is sometimes added as the seventh aspect.