The image and reputation of the brand cannot be separated from the corporate image and reputation of them. 4 Leadership Factors. The allocation of funds by the top management for the promotional activities must be kept in mind by the marketing manager while determining the promotional mix of a firm. Investing in newer, smarter technology and automating their business processes like electronic payment services, automated order booking, or electronically addressing the customers' grievances can generate an excellent market base and increase sales. Direct marketing sales promotion and publicity help reach potential customers and induce trail purchases by offering coupons and free samples. If the funds are adequate the firm can spend more for advertising and sales promotion. Each element in a promotion mix should strengthen the messages of the others: Let us discuss each of these factors in detail: The factors that influence the promotion mix related to product are: To make the consumer aware of the product advertising is simple idea to be emphasised so that consumers easily observe the product. Experienced buyers of industrial product need personal selling. Co-Ordination with Other Elements of Marketing Mix and a Few Others. If the middlemen are allowed higher profit margin, sales promotion at dealer level is important. Pricing strategy influences the promotion mix in two ways. Because consumers often buy on emotions, ads can affect the buying decisions. Most consumer goods manufacturers generally employ a push pull (combination) strategy to sell their products. A firm with huge promotional budget can spend on all promotional activities. Co-Ordination with Other Elements of Marketing Mix: Factors to be Considered by Companies while Determining the Promotion Mix Strategy, 7 Important Factors: Nature of the Product, Broad Differentiation, Product Complexity, Purchase Frequency and a Few Others. In the growth phase, the demand is high and customers have more disposable income, while in a recession phase, money is reduced as well as the demand and supply of a product. If the product is not of complex nature, the firm concentrates much attention on mass advertising media. Branding also reduces price flexibility. The distinction is very conspicuous, in the case of industrial buyers’ and consumer buyers’ market. (vi) Promotional strategy – Promotion mix depends to a great extent on whether a company follows push or pull strategy to create sales. People are buying product and advertising ensures continuity in this sale. In an efficient communication mix, care should be taken for deciding promotional tools and combination of those for achievement of objectives. But at the declining stage advertisement and sales promotion are reduced to the minimum. Some decisions are more complex than others and thus require more effort by the consumer. Thus promotion objectives matter how to promote a particular type of product in a market. In stage 1 i.e., introduction to basic promotion objective is to inform, which helps the customer to create awareness and interest in the product. After the product has been launched, advertisement and publicity are more important to create continued patronage of the customers, to create a good image of the product and its manufacturer and to meet competition in the market. Stages in the Product Life Cycle 4. For example, advertisement for woolen clothes are useless in deserts. If the competitor has a reputable brand controlling a significant market share, its presence may negatively affect the sales of the rival's products. In the push strategy marketers rely on selective distribution. To experience the product and ask questions. There’s a direct correlation between leadership engagement and sales training initiatives and results. Pricing affects choice of promotional tool for a product. But, if some potential customers have never heard of it and are unaware of the product’s presence, will they buy? If the brand is priced lower than the competitors’ price, only little promotion is needed. Sales Promotion Strategies. However, for th e most part, this st age is characterized by increased sales. Machinery, equipment or land personal selling is more appropriate as a great deal of pre-sale and after-sale services is required to sell and install such products. (ii) Nature of market – If the number of potential buyers is small and the customers are concentrated in a particular locality, personal selling is likely to be more effective. The selection of proper marketing promotion mix will only ensure better growth with increase in profits. If on the other hand level of competition is low then only mass communication of product is sufficient and personal selling may or may not be opted as a secondary way of promotion. During the conviction stage, personal selling is very effective. But if the market size is large the promotional tool is mainly advertising. Firstly in terms of the price of the competitor’s brand and secondly in terms of the margin allowed to the middle-men. 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Half of the companies surveyed experienced their sales and marketing costs rising faster than revenues. The factors affecting promotion mix are:-, 1. Personal selling and advertising is required for market penetration. If the marketer has to provide realistic solutions to the problems of the buyers, they must know their customers, their needs, their desires, their attitudes, values, expectations and aspirations. Hero Motor corporation’s pleasure was introduced as a women’s scooter which was heavily advertised on mass level via T.V, Radio, Hoardings and on social media. The price level, national income, profit rates, interest rates, rental rates all help to decide the first market potential and later the sales forecast. Companies must consider several factors in developing their communications mix. In the growth stage, the consumers have already heard of the product. In Nigeria, corruption occurs in many areas but the most common is corruption of government officials. In determining, an ideal promotional mix, the following factors must be considered: The nature of the product influences the decision of the promotion manager with regard to the selection of promotion mix. Though, selection of the promotional mix may depend on other market factors also, such as intensity of competition, consumer’s characteristics and requirement of channel members. The promotional strategy also depends upon the channel or the route through which the products flow from the firm to the consumer. Factors Responsible for Rapid Growth of Sales Promotion. In the push strategy the manufactures promotes its product through the middlemen such as wholesaler, who would actively promote the product to retailers and the retailers would actively promote it to the final consumers. Pricing Strategy. and expertised salesmen are required to contact the concerned consumers. So, these are some of the factors that could have an impact on your sales. Market Size 6. There is minimum wastage, development of relationship with the customer and direct feedback. are factors that must be considered as potential deter-minants of successful promotions. But during maturity stage of the Product Life Cycle, demonstration effect works well and the consumers follow the crowd. How to blend all these four elements of the promotion mix, the amount to be allocated for the various forms of promotion, such decisions are influenced by the following factors: The nature of the product determines the form of promotion undertaken by the marketer. There is a science to sales forecasting. To achieve this, a company may introduce new products, promote them through enticing marketing campaigns, offer discounts, and make payment options easier. Are divided into three broad types and early growth stages, the customers are scattered over different then. Operations or shut down completely iii ) it can use several pricing techniques to stimulate efforts! 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