Broadly there are five elements of promotion mix:
Advertisement – Advertisement is the first element of the promotion mix. Advertisement is attracting others towards the goods and services offered by a business organization to make sales. Therefore, it can be stated that anything and everything that will attract others towards the goods or services for the purpose of selling them is known as an advertisement.
Personal Selling – The second element of the promotion mix is personal selling. Personal selling is the process in which the salesperson of the company puts all his efforts to sell a particular product or service. It is both science and art because it requires a lot of creativity, manipulation, practice, and the use of correct methods and skills.
Sales Promotion – Sales promotion may include all the steps taken by any business organization to increase the sales of that organization. Generally, sales promotion includes all the selling efforts made by the company. These personal efforts may include personal selling done by the company’s salesman or the advertising done by advertisement agencies. Sales promotion gradually increases the company sales.
Public Relations and digital marketing – Public relations and digital marketing is the fourth element of the promotion mix. Public relations are continuous efforts made by the company to establish and maintain the best relations between the business organization and the public. Here the public involves all its customers, employees, stockholders, government, and society.
Publicity – The fifth element of the promotion mix is the other selling tools which may involve any other selling and promotional activity other than advertising, personal salesmanship, sales promotion. Basically, it is the verbal publicity done in local gatherings, etc.
Profit maximization – The main advantage of the promotion mix is that it helps in increasing the sales of the business organization which in turn gradually maximizes the profits of the company.
Relationship builder – The second advantage of the promotion mix is that it helps in attracting more and more customers. This gradually builds a relationship with the general public. This general public is the customers of the business organization.
Disadvantages of promotion mix:
The main disadvantage of the promotion mix is that the owner of the business organization could not completely control what gets publicized. Anything that might get wrong results on the sales and the reputation of the organization adversely.
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