Selecting the Promotion Mix for a Particular Product. Promotional Objectives. There are three main promotional objectives: inform the market, increase demand, and differentiate a product.
marketing mix: A business tool used in marketing products; often crucial when determining a product or brand’s unique selling point. Often synonymous.
After product, pricing plays a key role in the marketing mix. The reason for this importance is that where the rest of the elements of the marketing mix are cost generators, price is a source of income and profits. Through pricing, the organization manages to support the cost of production, the cost of distribution, and the cost of promotion.
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