Most of those reading this article are likely familiar with a marketing mix. It’s an integral part of any campaign and helps marketers determine the best allocation of a marketing budget. An extended marketing mix introduces three elements to increase the effectiveness of your overall strategy. What Is an Extended Marketing Mix? An extended marketing mix adds … Read more
Competition is a vital aspect of business. But it can get frustrating having to come up with new campaigns. It’s best to have a promotion strategy or plan in place so that you can be prepared to compete at any time. This ensures a more efficient approach even without much time to spare. What Is … Read more
Sales promotion means driving sales. The next question is how? Sales promotion involves the use of advertising, sponsoring, or similar initiatives to increase the number of sales within a company. Businesses do sales promotions through a variety of channels. One of the most common ways is through the use of discounts or coupons. A common … Read more
Product positioning is how a company positions its products in a field and advertises these products to the public. Positioning essentially refers to the place/position a product or brand occupies in the mind of consumers. Positioning is improved through deliberate actions of the brand. To take advantage, you need to understand the place of product … Read more
A promotional strategy is a set of tactics, methods, and practices that a business uses to propel its marketing efforts. It is a plan for a strategic marketing campaign where a plan for achieving the business’ intended goal is devised. Promotional strategies are used by many types of businesses, ranging from large corporations to sole … Read more
A marketing plan is essentially a plan for promoting a product, service, cause, or idea with a goal in mind. In some cases, it contains a statement that a plan has been formulated for achieving a goal. When you finish reading this article, you’ll have ample knowledge of the various parts of a marketing plan. … Read more
