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Promotion Marketing Mix Strategies

Posted: Sun Dec 22, 2024 10:27 am
by roseline371277
Advertising encompasses paid communication methods such as television, radio, print and online ads .

Public relations , on the other hand, focuses on communications that are generally not paid for directly, although they do involve an investment, such as press releases, content marketing , exhibitions, sponsorships, seminars, conferences and events.

Word of mouth is also a part of product promotion. It is the informal way in which vietnam telegram satisfied customers and people in general talk about the benefits of your product. It is usually the result of an appropriate marketing mix.

 

To create an effective product promotion strategy, you must answer the following questions:

How can you send your brand messages to your potential buyers?
When is the best time to promote your product?
Through which media will you reach your potential audience?
Can social media help you promote your product?
What is your competitors' promotion strategy?
Your promotional strategy will also depend on your budget, the message you want to communicate and your target audience.

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Factors that intervene in the Marketing Mix
Not all products are the same, and each has specificities that must be considered when formulating a marketing mix strategy. For example, if it has special storage needs or requires intermediaries.  

Factors such as warranty offered and customer  service also come into play in the marketing mix . Both of these points can define your positioning.

Additionally, your marketing planning must take into account that certain variables need more time than others to offer results. 

For example, a change in prices may have a short-term impact, but a growth in prestige may take a few months.



Differences between the 4 P's and the 7 P's of the Marketing Mix
It is important to understand the differences between the traditional 4 Ps and the extended 7 Ps of the marketing mix.

These are two frameworks that companies use to plan and execute their marketing strategies and reflect the evolution of markets, where there are increasingly more players and fewer borders.  

Previously we explained the 4 Ps of the marketing mix: product, price, place and promotion.

On the other hand, the 7 Ps are a more comprehensive framework that includes these 4 Ps plus three additional elements to more comprehensively address the current marketing landscape. Namely:

People
Processes
Positioning
 

These additions provide a more holistic view of serving customer needs and recognize the importance of internal processes and the human factor in delivering satisfying customer experiences.