Integrated Marketing Communication > Selecting the Promotion Mix for a Particular Pr...
  Selecting the Promotion Mix for a Particular Product
                                           • Promotional Objectives
                                           • Stages in the Product Lifecycle
                                           • Target Market Characteristics 
                                           • Characteristics of the Product 
                                           • Type of Buying Decision 
                                           • Funds Available relative to Costs 
                                           • Push and Pull Strategies 
                                           • Trade versus Consumer Promotions 
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  Integrated Marketing Communication > Selecting the Promotion Mix for a Particular Pr...
   Promotional Objectives
   • Increase demand: These strategies are used during the product life cycle in order 
    to increase sales.
   • Present information about the product: In order for customers and consumers to 
    want the product they need to understand what the product is.
   • Differentiate a product: This is especially important if there are multiple 
    competitors in the same market.
                                                             Marketing Mix
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  Integrated Marketing Communication > Selecting the Promotion Mix for a Particular Pr...
   Stages in the Product Lifecycle
   • The introduction stage of the product life cycle is where a new product is 
    launched into a market.
   • In the growth stage of the product life cycle, the market has accepted the product 
    and sales begin to increase.
   • In the maturity stage of the product life cycle, sales will reach their peak.
   • In the decline stage of the product life cycle, sales will begin to decline as the 
    product reaches its saturation point.
   • There is no set schedule for the stages of a product life cycle.
                                                             Firm Life Cycle
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  Integrated Marketing Communication > Selecting the Promotion Mix for a Particular Pr...
   Target Market Characteristics
   • A geographic target market can be consumers in a city, state, or country.
   • A demographic or socioeconomic target market would focus on a specific gender, 
    age group, income level, or education level.
   • A psychographic target market would be a market that has similar attitudes, 
    values, or lifestyle.
   • The behavioral target market focuses on occasions and degree of loyalty.
   • Product-related segmentation describes a target approach for customers who 
    already own a specific product.
   • Determining a target market approach to sales has many benefits.It can create a 
    more specific marketing campaign, increase sales, and decrease the number of 
    competitors in the market.
                                                             Geographic Target
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  Integrated Marketing Communication > Selecting the Promotion Mix for a Particular Pr...
   Characteristics of the Product
   • The characteristics of the product are the features that differentiate it from other 
    products on the market.
   • When companies create a product they have specific features in mind.It can be 
    characteristics that improve on an existing product or ones that fill a currently 
    unfilled need.Promoting these features can be a successful approach.
   • Characteristics of a product also help to determine the price of a 
    product. Premium features may be able to fetch a premium price.
   • It is the combination of demand for a product and its price that help to determine 
    the marketing mix.
                                                             Products
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