Explain promotional mix in detail.
Promotion refers to all the activities undertaken to make the product or service known to the user and trade. It is a method to spread the word about the product or service to customers, stakeholders and the broader public. This can include advertising, word of mouth, press reports, incentives, commissions and awards to the trade. It can also include consumer schemes, direct marketing, contests and prizes. Various approaches a company can use to promote its products are:
- Above-the-include: It use mass media methods and focuses on advertising to a large audience. It include print, online, television and cinema advertising, press, online banner advertisements, place advertisements on billboards, etc. Above-the-line promotion is very expensive so before taking it a lots of thought must be given. Also at times they are not under the control of organisation.
- Below-the-line: These are very specific, memorable activities focused on targeted groups of consumers. They remain under the control of the organisation. It deals with developing the brand by creating awareness and building a brand profile. It include the activities like sponsorship, sales promotions, public relations, personal selling, direct marketing, etc.
- Through-the-line: It refers to an advertising strategy involving both above-and below-the-line communications in which one form of advertising points the target to another form of advertising thereby crossing the “line”.