Meaning
The marketing mix ( also known as the 4Ps ) is used by a business as a tool to assist them in pursuing their objectives. The marketing mix principles are controllable variables, which have to be carefully regulated and must meet the need of the defined target group. It is the strategy used to perform marketing effectively.
1.) Advertising and product
2.) Advertising and Price
3.) Advertising and Place
4.) Advertising and Promotion
1.) Advertising and product
Advertising plays a very crucial role in promoting the product of the company. A product is the heart of any program. "without a good product one has nothing. Advertising makes able the marketer to sell the product and to satisfy the consumer.
Through advertising, marketer gives the information regarding........
a) Functional feature: By advertising, the marketer can inform about the various features of the product.
b) Aesthetic design: By advertising consumers know about the shape, size, design, color of the product.
c) Instruction for use: Marketer gives information about the correct use of the product to increase its value.
d) Warranty: By advertising, the marketer tells about the warranty and guarantee condition about the price.
e) Product Differentiation and Positioning: Through advertising,
2.) Advertising and Price
Price is an important consideration in buying decisions. Every one of us would like to know the price of the product for comparison purposes before finally deciding to buy. Advertising sometimes carries the price tag of the product.
Advertising plays a very important role in determining the value of the product. The factors are ............
a) Pricing Method: Advertising help the marketer in determining the price of the product and communicating them to the consumer.
b) Term Offered: Advertising gives information regarding the term which are offered by the company to the consumer. It consists of credit period, interest charges, credit limit.
3.) Advertising and Place
The place is one of the marketing mix components,which are concerned with transportation, warehousing, inventory, management, channel management. However, with proper identification of these segments, the right selection can be made. The most common channel for consumer goods is Manufacture- wholesaler-Retailer- the consumer.
Advertising gives the information regarding the following aspects of the place.
1. Number and location of retail outlet
2. Inventory – extent and location
3. Distribution channel
4. Market coverage
4.) Advertising and Promotion
Advertising is used to make a large target audience aware of the promotion, to communicate the key benefits, and to deliver a compelling reason why the target audience members should take advantage of the promotion.
Advertising plays a very crucial role in the promotion mix. It can be understood by headings that are....
a) Advertising and Personal Selling:
Advertising is communication with many consumers of products and services. Advertisers put the advertising message through mass media like the press, magazines, and TV. Advertisers communicate with buyers through the media. There is no face- to- face conversation.
b.) Advertising and Sale Promotion :
It makes the consumer take a favorable purchase decision by providing one or other kind of direct inducement,e.g., discount, price-off, gift, coupon, etc. It either informs or reminds about a product and service. It builds up a company image or brand image. Advertising is more frequent and repetitive than sales promotion.
c.) Advertising and Publicity:
Publicity is defined as demand for a product, service by farming commercially meaningful news about it in a published medium, or receiving favorable performance of it on radio, TV, or stage that is non-paid for by the sponsor or advertiser. Marketers have high control over publicity than they have over advertising. Publicity may be negative or positive.
d.) Advertising and Public Relations:
The ultimate aim of public relations is to develop a favorable image in the eyes of the public. It refers to a company’s communication and relationships with various sections of the public- customers, suppliers, shareholders, employees, governments, media, and society at large. Advertising plays an important role to maintain public relations.
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