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MARKETING PROMOTION AS AN ELEMENT OF MARKETING MIX


MARKETING MIX

Marketing promotion is one of the key elements of the marketing mix, also known as "Promotion." As a reminder, the marketing mix is a combination of strategies, approaches, and tools used by a company to achieve its marketing and business objectives. The classic marketing mix is usually divided into four main directions known as the "4Ps," one of which is marketing promotion or "Promotion":

• Product. Defining the range of goods or services that the company offers to consumers.

• Price. Choosing the pricing policy and pricing strategy of the company in current competitive conditions.

• Place. Determining distribution channels and appropriate marketing support approaches for the sale of goods or services.

• Promotion. Selecting communication channels to attract consumer attention, acquaint them with product offerings, and stimulate purchases, etc.

However, modern marketing no longer settles for just these directions. Companies have realized the importance of other factors that influence the effectiveness of marketing strategies and, when necessary, supplement the marketing mix with additional elements such as People, Partners, Process, Physical Evidence, Performance, Positioning, Public Relations, Proof Points, and others. In fact, modern marketing mixes expand the classic "4Ps" concept to "8Ps" or even "12Ps."

The significance of marketing promotion for a company's marketing strategy cannot be overstated. As an element of the marketing mix, marketing promotion focuses on informing, persuading, and stimulating consumers regarding the purchase of a product or service. Its goal is to increase brand awareness, create a positive perception of the product, boost sales, and develop further interaction with the target audience.


PROMOTION CHANNELS

Currently, marketing promotion channels are well-known, so we will only provide their classification and list for convenience.

• Owned media. These are communication channels fully controlled and managed by companies, allowing them to have complete control over content and audience interaction (own websites, blogs, landing pages, social media pages, messenger channels, mobile applications, email lists, etc.).

• Paid media. These are communication channels for which companies pay to place messages and advertising materials (television, radio, online, print media, outdoor advertising, etc.).

• Earned media. These are communication channels not controlled by the company and depend on the opinions and activities of consumers, journalists, and other individuals, including publications, recommendations, and mentions of the company's brand or products that appear in the media, social networks, forums, etc.

The most crucial aspect of successful marketing promotion is effective integration of marketing communications.


INTEGRATED PROMOTION

Integration of marketing communications is a strategic approach that involves combining various channels and elements of a company's marketing communication to create a unified, coordinated, and consistent communication system with the audience. The main goal is to achieve a maximum impact from the promotion through a system of channels, which will be greater than the sum of the effects of individual channels.

Integration of marketing communications is based on the following principles and factors aimed at creating a unified, coordinated, and effective approach to promoting a company or product:

• Common strategy. Integration of marketing communications involves developing a common strategy that defines the company's marketing objectives and the ways to achieve them. All communication tools and channels should work in line with this strategy and support each other to achieve shared goals.

• Message consistency. All communication messages should be consistent and complement each other. Messages conveyed through different channels should have the same key ideas and messages to avoid contradictions and confusion among the audience.

• Branding. An integrated communication strategy ensures a unified identity and recognition of the brand across all communication channels. Key brand elements such as logos, slogans, and colors should be used consistently across all channels to reinforce the company's image.

• Synergy. Integration of marketing communications involves using different channels and tools in a way that complements each other and creates synergy. Combining various channels can enhance the communication effect and make it more effective.

• Consistency over time. An integrated communication strategy entails consistently spreading messages over a prolonged period. Communication should be repetitive and continuous to capture greater attention and memorability among the audience.

• Audience diversity. Integration of marketing communications should consider the diverse needs and preferences of the audience. Different channels can be directed at different audience segments, ensuring greater relevance and communication effectiveness

Integration of marketing communications helps create a cohesive brand image, ensures greater efficiency, and contributes to achieving the company's marketing objectives.

Indeed, the majority of businesses use marketing promotion to achieve their commercial goals. However, focusing solely on marketing promotion while ignoring other elements of the marketing mix can lead to a range of problems that may impact the effectiveness of marketing efforts and the achievement of marketing goals. Here are a few reasons why working on all elements of the marketing mix is necessary:

• Systematic marketing efforts. A marketing mix that includes all components (product, price, place, promotion, and others) allows for integrated strategies and a balanced approach to marketing. Interaction among all elements helps maintain direction and consistency in the company's actions, making the business more effective.

• Diverse consumer needs. Different consumers have different needs, and promoting just one element (e.g., advertising) may not be sufficient to attract all customer segments. A well-developed marketing mix enables the use of various tools to engage different audience segments.

• Competitive advantage. Market competition is continually increasing, and companies must constantly find ways to stand out. Developing a comprehensive marketing mix allows for unique strategies that make the brand more appealing to consumers and provide an advantage over competitors.

• Achieving targeted results. Each element of the marketing mix has its unique tasks and objectives. For example, the product strategy aims to provide high-quality products, while the pricing strategy ensures acceptable prices for consumers. Targeted results are achieved only when all elements work together and interact with each other.

• Efficient resource utilization. Focusing solely on marketing promotion may result in expenditures on expensive advertising campaigns, but without developing other elements of the mix, it may be challenging to achieve specific marketing goals. An integrated approach allows for efficient resource and budget utilization, yielding more meaningful results.

Therefore, while marketing promotion is indeed considered one of the most crucial elements, for a successful marketing strategy, companies should develop the entire marketing mix and ensure interaction among all elements. This enables the construction of a more balanced, effective, and successful product or service promotion strategy in the market.

Achieving the commercial objectives of a company through effective marketing requires a deep understanding of the market situation, consumer needs, the ability to analyze and explore alternatives, and a creative approach to problem-solving. Our company has extensive experience in defining optimal marketing strategies for our clients' businesses, creating a strong brand and market positioning, as well as developing a marketing mix and implementing the chosen strategy. You can familiarize yourself with the services and solutions our company offers on the "Services" and "Solutions" pages, respectively.