Unit 9: Creative product promotion
P1: describe the promotional mix used by two organisations for a selected product
The promotional mix is part of the wider marketing mix and it is one of the 4ps which are product, price, place and promotion.
Promotion is all about communication. This is because promotion is the way in a business makes its products known to the customers, this includes future current customers and future customers.
The main aim of promotion is to ensure that customers are aware of the existence and positioning of products. Promotion is also used to persuade customers that the product is better than competing products and to remind customers about why they may want to buy.
Increase sales
Attract new customers
Encourage customer loyalty
Create awareness
Change attitudes
Create an image
Position a product
It is important to understand that a business will use more than one method of promotion. The variety of promotional methods used is referred to as the promotional mix.
Which promotional methods are used depends on several factors:
Stage in the product life cycle - Advertising is especially important during the launch of a product
Marketing budget - How much the company can afford to spend on marketing
Marketing strategy- Other elements of the mix (price, product, place etc)
Target market- Appropriate ways to reach the target market
The main methods of promotion are:
Advertising
Public relations & sponsorship
Personal selling
Direct marketing
Sales promotion
Now I will explain how Coca-Cola and Pepsi use the promotional mix to market their products. Before I do this I will provide an introduction of the two companies.
Coca – Cola
Coca-Cola is a carbonated soft drink sold in stores, restaurants, and vending machines throughout the world. It is produced by The Coca-Cola Company of Atlanta, Georgia, and is often referred to simply as Coke.
Pepsi
Pepsi (stylised in lowercase as pepsi, formerly stylized in...