Marketing

Strategy refers to how a business intends to achieve its goals within a given period of time. The goals are the objective and the strategy normally indicates out the route to that objective.

Promotion

Promotions are decisions about advertising, personal selling, sales promotion, and publicity used to attract potential customers. Companies use promotion to inform people about their products and services and also to enhance their public image and reputation.

There are two methods of promotion:

Product promotion: promotion method businesses use to convince consumers to select its products or services.

Institutional promotion: promotion method used to create a favorable image for a business, help it advocate for change, or take a stand on trade or community issues.

Promotional Mix Conceptals, an organization develops an effective promotional mix which is a combonation of strategies and a cost-effective allocation of resourceThe strategies in the mix are designed to complement one another.

In large companies, the marketing department has many roles. It determines the promotional mix, establishes the budget, allocates resources, coordinates the campaign, supervises any outside resources, and measures the results.

Manufacturers often develop a promotional mix for each segment of the distribution channel. To promote a product to large retailers that sell its products, a manufacturer might want to use a mix of personal selling, advertising, and buying discounts. This is known as the push policy. (The manufacturer pushes the product to the retailer.) The same manufacturer might use a different promotional mix of local and national advertising, in-store displays, sales promotion, and public relations to reach consumers. The pull policy directs promotions towards the consumers. It is used to create customer interest and demand.

1. Personal Selling

Basically personal selling is one-to-one communication between seller and prospective purchaser. It...