Marketing Channels
Question: Should companies involve their marketing channels in the design of the promotional programs? What are the advantages and disadvantages of doing so?
When a company is looking at promoting a new or existing product or service, the involvement of their marketing channel during the design of the promotional program is key component. According to the text Excellence in Business (Bovée, Thill, Mescon; p. 417-418), a market channel is the network of firms that work together to get goods and services from the producer to the customer.
When a company is designing is promotional program, or the manner it wishes to get information about its product to consumers, it has numerous factors and stakeholders to involve. Walk into any grocery store chain or look at any number of weekly advertisements and you will be able to see the same product advertised in numerous ways across numerous vendors. These various ways of advertising the same product across multiple vendors can also be referred to as a promotional mix. A promotional mix can be described as the blend of personal selling, advertising, direct marketing, sales promotion, and public relations a company uses to reach potential customers. (Excellence in Business; Bovée, Thill, Mescon; p. 487)
When a company is developing a promotional mix and working with their marketing channels, it is important to understand the five elements of promotion. Excellence in Business (Bovée, Thill, Mescon; p. 487) describes the five elements as:
1. Personal selling which is in-person communication between a seller and one or more potential buyers; 2. Advertising, or the communication which targets a market from an identified sponsor using mass communication; 3. Direct marketing sends advertising directly to potential customers; 4. Sales promotions includes sponsoring promotional events and activities such as coupons, contests, etc.; and 5. Public relations which is the non-sales communication
When a company is looking at promoting a new or existing product or service, the involvement of their marketing channel during the design of the promotional program is key component. According to the text Excellence in Business (Bovée, Thill, Mescon; p. 417-418), a market channel is the network of firms that work together to get goods and services from the producer to the customer.
When a company is designing is promotional program, or the manner it wishes to get information about its product to consumers, it has numerous factors and stakeholders to involve. Walk into any grocery store chain or look at any number of weekly advertisements and you will be able to see the same product advertised in numerous ways across numerous vendors. These various ways of advertising the same product across multiple vendors can also be referred to as a promotional mix. A promotional mix can be described as the blend of personal selling, advertising, direct marketing, sales promotion, and public relations a company uses to reach potential customers. (Excellence in Business; Bovée, Thill, Mescon; p. 487)
When a company is developing a promotional mix and working with their marketing channels, it is important to understand the five elements of promotion. Excellence in Business (Bovée, Thill, Mescon; p. 487) describes the five elements as:
1. Personal selling which is in-person communication between a seller and one or more potential buyers; 2. Advertising, or the communication which targets a market from an identified sponsor using mass communication; 3. Direct marketing sends advertising directly to potential customers; 4. Sales promotions includes sponsoring promotional events and activities such as coupons, contests, etc.; and 5. Public relations which is the non-sales communication