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A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. Communication through mass media, the firm will usually pay for this type of communication. Firms place daily messages on social media such as Facebook and Twitter to keep customers interested in their organisation. Firms need to carefully consider the message that their promotion strategy will be conveying to their target audience. The promotion's message should reinforce product benefits and help the firm to develop a positioning strategy for their products. As products move through the four stages of the product life cycle different promotional strategies should be employed at these stages to ensure the healthy success and life of the product.
When a product is new the organisation's objective will be to inform the target audience of its entry. As the product becomes accepted by the target market (at this stage of the life cycle) the organisation will employ strategy to increase brand awareness and customer loyalty. At this stage of the life cycle the product will be experiencing increased competition and will need persuasive tactics to encourage consumers to choose their product over their rivals.
As the product reaches the decline stage of its life cycle, all the organisation can do is use strategy to remind consumers about the product in a bid to slow the inevitable.
Owning a website is a now a crucial ingredient to the marketing mix strategy of an organisation. If you would like to learn more about the promotion mix and promotional strategy take a look at our promotional mix expanded article which includes above the line advertising, below the line advertising and through the line advertising. The basic major marketing management decisions can be classified in one of the following four categories, namely Product, Price, Place (distribution) and Promotion. Product: It is the tangible object or an intangible service that is getting marketed through the program. Promotion: This represents all of the communications that a marketer may use in the marketplace to increase awareness about the product and its benefits to the target segment. So how does a marketer strategize to attain success in a marketing program, using these 4 P’s? Offering specificity introduces the contextual customization of what needs to be done to address the questions raised in each of these 4 Ps of Marketing.

When checked, Shutterstock's safe search screens restricted content and excludes it from your search results. Marketing objectives set out what a business wants to achieve from its marketing activities. Some examples of marketing objectives which meet these criteria would be: Increase company sales by 25% by 2016 Achieve a market share of 30% for Product C within 3 years of launch Increase the percentage of customers who rate service as "excellent" from 80% to 85% within 18 months It is important that marketing objectives and marketing plans support the overall objectives of the business.
Jim RileyBefore founding tutor2u with twin brother Geoff, Jim was a director at Thomson Travel Group Plc and a Corporate Finance and Strategy specialist at PwC.
Comprehensive series of teaching & learning resources to support the teaching of AQA & Edexcel A Level and AS Business. Good public relationships involves not only creating favourable publicity through the media but also involves minimising the impact of negative situations.
They may even run promotions, flash sales and discounts just for their social media readers.
Sponsorship is commonly used in sporting events; player's clothing and stadiums will be covered in the firm's branding and even the tournament may be named after the firm.
What message will promotion activity send to the target audience and how will it impact on the firm's reputation? What aspects of the promotional mix will the company use to deliver their message strategy. Television, radio, magazine, coupons etc may be used to push the product through the introduction stage of the life cycle. This is one of the preliminary knowledge every marketer must have and is considered to be the basics of every marketing theory, which emerged henceforth.
Tangible products may be items like consumer goods (Toothpaste, Soaps, Shampoos) or consumer durables (Watches, IPods).
If the price outweigh the perceived benefits for an individual, the perceived value of the offering will be low and it will be unlikely to be adopted, but if the benefits are perceived as greater than their costs, chances of trial and adoption of the product is much greater. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises.
This can be highly effective when the direct mail recipients are within the firm's target market.

Although effective sponsorship requires a large audience you may get smaller firms interested in local business sponsoring small events in their area e.g.
Hit rates are phenomenal.Advertisers have now moved their money over to the internet as customers are now spending more time online than watching TV. Intangible products are service based like the tourism industry and information technology based services or codes-based products like cellphone load and credits. This may include any physical store (supermarket, departmental stores) as well as virtual stores (e-markets and e-malls) on the Internet.
Advertising may include using specialty packaging to showcase products, utilizing promotional products for your company, or online ads.
In there very essence, the 4 Ps of marketing is actually a framework that allows the marketer to structure the value proposition of an existing product (or a new product at the time of launch) so as to garner the highest mindshare by distinctly structuring the same.
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Clearly the company must take into account the readership and general behaviour of their target audience before they select their media strategy. This is crucial as this provides the place utility to the consumer, which often becomes a deciding factor for the purchase of many products across multiple product categories. A certain amount of crossover occurs when promotion uses the four principal elements together (e.g in film promotion). However, that is easier said that done and many marketers fumble when it comes to playing with the real life nuances and bringing out a crisp value proposition. Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. Targeting through effective media campaigns could save the company valuable financial resources. To retain its competitiveness in the market, continuous product extensions though innovation and thus differentiation is required and is one of the strategies to differentiate a product from its competitors.

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