Mention the Factors that Can Affect the Promotion Mix According to Stanton
Mention the factors that can affect the promotion mix according to Stanton – In introducing a product to the general public it is necessary to have a marketing promotion.
The company can choose the promotion according to the factors that influence it.
What factors affect the promotion mix? Friend, to understand it please refer to the following explanation.
Definition of Promotion
Promotion according to William J. Stanton is an element in the marketing mix of a business which serves to convey, introduce, invite and remind consumers of the products they offer.
In essence, promotion is a form of marketing communication. In marketing science, communication is a marketing activity that companies do to announce a product to the public.
In addition, it also serves to seduce target consumers, and remind them of the products that the company offers.
Its function is for consumers to welcome the product and make a purchase, then be loyal to the product.
The promotional mix is a combination of a number of marketing strategies that the company makes to achieve sales targets.
There are several elements in the promotion mix, including:
Sales Promotion is a promotion that the company does and is temporary, the purpose of which is to increase consumer interest in purchasing products.
Examples include discounts, buy 1 get 1 free, coupons, free samples and so on.
Advertising is a type of promotion by displaying products in the form of images, writing, audio, visuals or a combination thereof.
Advertising runs by displaying information about products such as shape, price or advantages. The goal is none other than to captivate the hearts of target consumers.
Direct marketing is a marketing step by involving media that is directly connected to consumers personally. For example, make an offer by sending an email or via telephone.
Promotion Mix Factors According to Stanton
According to Stanton, there are several factors that influence the promotion mix, namely:
The Amount of Money Available For Promotion
In essence, the promotion mix is very dependent on the ‘budget for promotion’. How much nominal the company has of course has an impact on the quality of the promotion of a product. The higher the budget they have, the greater the opportunity to create a good promotion.
The Nature of The Market
The natural condition of the market, is the geographical environment in the area where the company does marketing. This affects the level of smoothness of a promotion.
The Nature of Product
The condition of the product in this case is what kind of product the company sells. Are industrial products sold to factories, or to end users?
If to the factory, then the company must do the promotion personally. Namely offering directly to the industrial actors. Because usually a contract or long-term cooperation will be established on industrial product transactions.
Meanwhile, if the target consumer is the end user, then the promotion that the company can do can be in the form of advertising or other media that is disseminating.
The Stage of The Product’s Life Cycle
Product life cycle phases. That is, at what stage this product is in its market. Is it a new product or a product that people already know? Because these differences require different promotional techniques.
Thus the discussion of the question: state the factors that can affect the promotional mix according to Stanton along with an explanation of the promotional mix. See you on another occasion.