|Type of paper:||Essay|
|Categories:||Sales Strategic marketing|
Marketing plan is the procedure of defining and organizing the marketing aim of any firm by gathering and organizing tactics and strategies to achieve them. Every solid marketing plan must consist of the company's information, proposition regarding the customers it's targeting, its position against the competitors, the budget allocated, distribution channels and promotional strategies (Cartwright, 2012). The team members, in this case, should refer to this process as a marketing plan. In marketing, promotion is any marketing communication applied to persuade or inform the targeted audience concerning the merits of the brand, service, issue or product (Mittelmark, 2013). The primary purpose of promotion is to create interest, create brand loyalty and create awareness. Advertising is one of the elements of marketing that uses the four Ps such as promotion, place, price, and product.
In marketing, the promotional mix is the use of various promotional activities such as sales promotion, direct marketing, personal selling, and advertising to maintain, increase and create the demand for the product. The manager must ensure that they determine the factors that facilitate the promotional mix. One crucial factor to look at is the type of product and its promotional tools (Loda, 2014). An excellent example of a company that can use this strategy is ML because of the backpack products. Personal selling in this ca is more appropriate because it also offers after-sale and pre-sale services required.
Another critical reason to consider is the nature of the market. The location and number of customers have a significant influence when it comes to the promotional mix. In such cases, most customers are usually concentrated in a particular place, and this makes the seller sell his products (Loda, 2014). The ML back products, for instance, can benefit when they use this promotional mix because most of its customers are students and they are usually in schools.
Another factor that is widely considered is the stages of the products life. Usually, the promotional mix does not maintain the same trend depending on the cycle. When introducing the product, for instance, the primary objective is to create the awareness of the product by emphasizing its utility and features to ensure that it blends with the publicity and advertising needed (Loda, 2014). When this is fixed, marketing budgeting is considered when it comes to the decisions made under the promotional mix. If money is available for promotion, then the promotional tools may blend well even when the market is limited.
Companies such as the ML Back products should offer its customers additional benefit that can also appear as a promotional marketing technique. In most cases, the business has the tendencies of increasing the sales of the products that are hard to sell. This means that ML Back products should use the point-of-sale promotion technique to make their products unique to clients that have purchased a similar product but from a different firm. Since ML Back products have existing customers, who are the students, it's more comfortable for them to also but anything new introduced in the market.
The promotion of the four Ps is the use of various strategies to sell a product. Marketing is the only platform that ensures that the public is aware of the product being sold. It is therefore vital to use the promotional mix to ensure that not only the product is known to the market but also maintain its standards in the market. When this strategy is used, it is easier for any company to sell a new product to the same customers due to the trust formed.
Cartwright, R. (2012). The marketing plan. Mastering Marketing Management, 319-325. doi:10.1007/978-1-137-06985-6_15
Loda, M. D. (2014). Suggesting a More Effective Way to Use the Promotional Mix in Services. Services Marketing Quarterly, 35(4), 304-320. doi:10.1080/15332969.2014.946875
Mittelmark, M. B. (2013). Promotion & Education past a ser Global Health Promotion. Promotion & Education, 15(4), 67-68. doi:10.1177/1025382308097704
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