Promotional Mix

Question

Define the term Promotional Mix and what are their roles. And explain why determination of promotional mix is important?

Answer 1

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.