Along with advertising, public relations and personal selling, sales promotion is one of four key tools for marketing communication. As competition intensifies and promotions proliferate, consumers have learnt to earn the rewards of being smart shoppers. Its existence in prehistoric times is confirmed, for example, by an Egyptian papyrus with the information of the upcoming sale of a slave. Promotion-mix is a set of promotional tools that are available to the company. Singapore: Pocket Books. It is essential to understand to whom we are talking their position. One of the best ways to advertise is by word of mouth, also known as referral marketing or referral advertising. The type’s advertisements are Product advertisement which is selling a single product such as mobile phones, electronic goods. These are: As a market-orientated organization adidas continuously identifies and reviews consumers’ needs to ensure its products meet these needs. In shopping malls like Globus and Lifestyle, decent margins have to be paid to them in order to have shelf visibility for your brand. Over a period of time, they have also learnt that brands on promotion are not necessarily of lower quality. Advertising Has Become More Expensive And Less Effective. Objectives and Importance of Advertising Advertising is the best way to communicate to the customers. This has led to a shift from the regular media based advertising. No company can survey without building awareness for itself and its brands. Task 04. VAT Registration No: 842417633. Free resources to assist you with your university studies! Sales promotion includes techniques like free samples, premium on sale, sales and dealer incentives, contests, fairs and exhibitions, public relations activities, etc. All the advertising media have become quite expensive. It can be easy to create it that puts your customer in a mindset not to purchase your product, either by unintentionally avoiding the sale of your product by focusing on information or topics that draw attention away from your product. The air of change is getting momentum after the introduction of financial liberalization. These promotions create an element of interest and excitement, and consumers enjoy these and response enthusiastically to such contests and sweepstakes, etc. The elements include: No two businesses are identical, as such, every organization must decide on its own balance of the 4Ps to suit its consumers’ needs. It is one of the four key aspects of the marketing mix. In modern times the importance of advertising your business is no different. Promotion is a key element in putting across the benefits of your product or service to the customers. As a business activity it holds its importance for an economy. Sales promos are short-term incentives to encourage the purchase or sale of a service or product. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! you There are many differences between advertising and promotion. There are a number of promotions, which are often called interest promotions. The first point of difference is Advertising is one of the elements of promotion while promotion is the variable of marketing mix. Electronic theory: – understands the dynamic communication aids in delivering messages clearly to the receiver. Characteristics Of Advertising. Assess how promotion is regulated.4. A sense of urgency in consumers to buy now Government, tourism and banking key of... 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