Nature of Market: When the target market is large and spread over a wide area across the country, advertising and sales promotion are considered to ... 2. Factors Affecting Promotion Mix – Factors to be Considered by Companies while Determining the Promotion Mix Strategy. A company can achieve its marketing objectives by selecting and balancing the marketing mi… Target market – The size of the target market and the reach of media in different parts of the target … Profitability: Every business unit tries to maximize its profits. They have the power to shape customer behavior and buying preferences while creating new market opportunities. A rise in the prices of goods is directly proportional to the input prices for producing the goods and services. Market related factors – Distribution system; Consumer behaviour; Government policies; Nature of competition; Product related factors – Marketing research; Product planning; Sales promotion; Branding; Channel of distribution; Advertising; Personal selling Business Jargons Marketing Factors Affecting Promotion Mix Factors Affecting Promotion Mix Definition: The Promotion Mix is the blend of several promotional activities (Advertising, personal selling, sales promotion, public relations, direct marketing) used by business to create, maintain and increase the demand for a product. Type of Product: 3. The marketing mixis an important part of the Marketing System of the company and thus it is a controllable factor of the marketing environment. Some marketing experts view price is the only dominant factor in the mix because a slight change in price can affect the promotion and distribution of the product at different places. Social media, data-driven marketing, artificial intelligence, machine learning and other trends are disrupting the business landscape. Inflation: Inflation can be defined as the rise in the prices of various items over a period of time. Under marketing with we include mainly product mix, distribution mix, communication mix, and service mix. Factors affecting Marketing Mix. These controllable factors are marketing instruments or variables. The policies adopted by manufacturers to attain success in the market constitute the marketing mix. It makes certain changes in its product … Technological advances are a strong economy marketing factor that organizations can't afford to ignore. There are various economic factors that affect marketing such as inflation, interest rates, exchange rates, recession and taxes. Factors Affecting Promotion Mix Determining the right set of promotional mix is an important decision of marketing communication manager and whenever they go for determining the promotional mix they always considered many factors. 1. Marketing Mix Strategy Marketing mix means product, price, promotion, and place.
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