Promotional Mix
Define the term Promotional Mix and what are their roles. And explain why determination of promotional mix is important?
Expert
Promotional Mix:
Promotion is the co-ordination of sellers’ aim to set up channels of information and persuasion to facilitate the sales of goods/ services or acceptance of idea.
It refers to the combination of different kinds of promotional techniques used by a business to create and maintain sales and its promotion. Determination of promotional mix is important because of two reasons:
• Firstly a combination of promotional activities has to be used because only simple promotional tools may not be effective. Firms need to employ all promotional tools in different degrees.
• Secondly all promotional tools are not of equal importance and their values may change in the business environment.
Promotion serves three essential roles- it informs, persuades, and reminds prospective customers about the company and its products. Using these in various ways the company tries to modify the behavior of the consumers to suit its objectives.
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