Establish and adjust the marketing mix Essay Example for Free

Establish and adjust the marketing mix EssayPromotions are not just functioned at increasing utilisation of the products. Followings are five other specific promotional aims.Sales GrowthThere have two name of campaigns, long term and short term campaigns. In a short-term, the main aim would be to drive revenues or cash flow, it also trigger the bargainer actions. In the long-term campaign, the main aim would be intended to lead optimized profit margins. Especially for a new business they might aim to build a customer base in order to cover new start-up business costs and maintain a sustainable business. For the established companies, their aim would be to generate more business during subdued or off season periods, and to expand the business into the newer markets.Brand RecognitionOne of the most popular promotional objectives would be building or maintaining strike out recognition. The objective is to let customers or people know and well recognized your brand logo, other symbols or characters. Customers identify it with your company and hopefully associated with good postage to it, this might lead to customers will advertise our brand to his/her friends. It also gives people something to remember you by , that helps the business stand out even more. Understanding and connecting with the painting of your brand is critical to long-term customers loyalty and profits.Purchase IntentAs customers become more familiar with your brand, the next stage is to stir up purchase intent. The goal is to eliminate, neutralize or blocks the efforts of competitors to grab market share. You need to lure customers away from aggressive competitors. Promotional activities stub be utilise much(prenominal) as refreshing trial use, encouraging existing customers to consume more quantity it occurs when customers are satisfied and can see no reason to buyform another company and more frequency and getting customers to switch from competing options. Some customers are so satisfied with your services they cannot imagine shopping somewhere else A variety of promotional tools are used in this endeavor, including free trial offers or first-time buyer discounts Create AwarenessIncreased market sense is a primary promotional objective. A mature product that is providing something new such as a product improvement or enhancement can also turn to promotion. A product thats new to the marketplace will need promotion to be introduced to consumers. In all these cases, the objective is to make stochasticity in the market that results in sales.GoodwillOne ongoing objective of companies is to promote goodwill with the public and also public relation campaign. Staying active in community activities and giving to charities are common promotional tools with public relationship. Coinciding with building and maintaining goodwill, public relationship and other promotional campaigns are sometimes used to combat negative publicity already festering. Wal-Mart often uses advertising to promote positive attributes of the company in the face of criticism for some of its business practices.