Marketing has been broad business function that would be inclusive of product research and development, distribution processes, merchandising and pricing along with promotion or communication. The communication mix would refer to specific methods used for promoting the company or its services or products to targeted customers. Some depictions of the promotional mix would be inclusive of five elements, whereas others would add the sixth element, event sponsorship.
Advertising has often been the most prominent element of communication mix. Actually, advertising and marketing have often misconstrued similar. Advertising would be inclusive of all messages a business would pay to deliver through medium of reaching a targeted audience. It has been known to entail several paid messages, companies allocating huge amounts of the marketing budget for its advertising. It may be costly, but the advertiser would have adequate control on the delivered message. It would pay the radio station or television, website or print publication for placement.
- Personal selling
It would at times be integrated with direct marketing element. However, several companies would make extensive use of sales force, which has been deemed imperative for considering the component in a unique manner. Distribution channel suppliers would make use of salespeople for promotion of products for resale to several trade buyers. Retail salespeople have been known for promoting value of goods and services.
- Promotions and discounts
Sales discounts and promotions have been deemed similar to advertising. They would often be promoted through paid communication. However, sales promotions would entail offering a discounted price to the purchaser. It might be inclusive of percent-off deals, coupons and rebates. Along with advertisements for promoting deals and coupon mailers, companies would make use of exterior signs along with in-store signage for alluring customers to their discounted offers.
- Public relations
It would entail messages communicated through mass media. The only difference being you would not be paying for the space or time of the message. You may try to control the messages through invites for media coverage and press releases, but media could put a negative spin on story.
- Direct marketing
It would entail both sales promotion and personal selling. This interactive communication with customers through company’s message would seek or implore a response through targeted customers.
- Event sponsorship
Event sponsorship has been element left out at times from the five-element communication mix. Several models would be inclusive of advertising. Event sponsorship occurs with a company paying to have presence at sports, nonprofit, community events and entertainment.
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