THE MARKETING MIX- PROMOTION

THE MARKETING MIX- PROMOTION

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The Marketing Mix- Promotion

Introduction

The third element in the promotion of the marketing mix is considered to coordinate the efforts of the seller in the establishment of outlets for information and to facilitate the sale of goods or services or to accept a certain idea. This component of the marketing activity consider the firm, aimed at disseminating information about the product and consumers, who are convinced of the need to acquire it. Promotion of any product which comprises the determination of distribution channels, the selection and use of various channels of promotion (media, internet, direct marketing, etc.), methods of sales promotion, advertising, PR, image formation of the product and many other instruments. When promoting a product or service is important to consider all the "P", then its efficiency and effectiveness will be much higher (Cornelissen 2008). It also helps to promote and contribute to solve the problem of ignorance of the consumer product and by providing information about the company, the brand and item, price and item availability and uses of the commodity.

Information Needs of Target Market

The determination of target markets is the choice and concentration of resources in marketing for one or more market segments. Often more than one target is selected. Audiences are then divided into primary and secondary target audiences (Cravens 2001). The first step in the analysis of the market is the definition of primary, secondary and possibly tertiary target markets. Target market based on the distinctive characteristics that allow separate addressable market segments. Segmentation is based on:

1.Demographic characteristics: specific, objective factors such as age, sex, race / ethnicity, education, occupation and income.

2.Geographical characteristics: based on location factors such as country, state, city, mobile workers, as well as lifestyle (e.g., rural Vs Urban).

3.Psychographic characteristics: personality traits, such as attitudes, beliefs, life experiences, needs and desires.

4.Consumer characteristics: factors relating to the client, such as loyalty, frequency of shopping and willingness to buy online.

It is important to determine the true scope of the target market. If the definition, of the target market too extensively, it will be difficult to identify information needs and you only spend money on promotion, not getting the desired result. If the market is defined too narrowly, it will be difficult to find and create a profitable customer base. Such a market-oriented process is evident in how the approach to market analysis marketing, moving from general (market potential) to private (market share).

1.Once the target market is determined, it is necessary to study them to get some concrete data about them. In order to find this, company needs to get answers of the questions:

2.What is the demographic composition (age, education, income, etc.) in these markets?

3.How many people belong to a market?

4.Do they use the Internet?

5.Do they shop online?

6. Growing markets are stable or in decline.

Information for potential customers need

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