Hey! It’s Vinícius here!
Since I missed a class, I’m writing this post about promotion which was the theme of that class. Enjoy!
As part of the 4Ps of marketing, Promotion is the element that seeks to communicate with the consumers about the value of a company’s product set by the other three Ps. In order to achieve that goal an enterprise must resort to FIVE promotion mix tools and an integrated marketing communications strategy.
So, what are these five tools? Well, according to Philip Kotler – in the book called Principles of Marketing – they are:
1. Advertising – it consists of any paid form of non-personal presentation and promotion of ideas, goods, services by an identified sponsor
2. Sales Promotion – short term incentives to encourage purchase or sale of a product or service
3. Public Relations – Building good relations with the company’s various publics by obtaining favorable publicity, building up a good “corporate image”, and handling o heading off unfavorable rumors, stories and events.
4. Personal Selling – Personal presentation by the firm’s sales force for the purpose of making sales building customer relationships.
5. Direct Marketing – Direct connections with carefully targeted individual consumers both to obtain an immediate response and to cultivate lasting customers.
In order to avoid creating a fragmented campaign, companies are implementing a concept called Integrated Marketing Communications (IMC). This concept consists in integrating and coordinating all of a company’s channels to deliver a clear, consistent and compelling message for the brand to its consumers. Articulating this IMC requires the coordination of the five promotional tools and the assignment of their roles and extent of their use. By betaking this strategy the company can send a cohesive message to its consumers, thus having a cohesive image in all the different markets in which it operates in.