What Is the Difference Between a Marketing Mix & a Promotional Mix A marketing mix and a promotional mix have differences, and are both important to your business. In order to successfully grow your business, you will need to market it. Marketing helps attract new customers and keeps customers coming back for repeat business. When you identify your marketing mix, it helps you determine how to satisfy your customers, while the promotional mix focuses on direct customer interaction. Marketing Mix
The marketing mix is a planned mix of activities. The ingredients in the marketing mix are product, place, price and promotion. It is a combination of elements that you will use to market your product. Marketers use the marketing mix to create a value for their product. The four elements of the marketing mix are used and adjusted until the marketer gets the results that he wants. For example, pricing decisions are exercised in the form of cash discounts that convince customers to buy. Promotion Mix
The promotional mix is the coordination of marketing activities which includes publicity, sales promotion, advertising, direct marketing and personal selling. It is a coordination of activities that you will perform to directly interact with your customers. For example giving sales presentations helps you to interact with the customers one on one to answer their questions and demonstrate your product. Difference Between a Brand Name and a Trademark
Trademarks and brand names are essentially the same thing. The only difference between the two is that a trademark is registered with the U.S. Patent and Trademark Office. Registration of a brand name as a trademark affords the owner of that trademark legal recourse if someone else uses that name. Brand names and trademarks are valuable assets to a business. Often a brand or trademark becomes synonymous with the product. For example Xerox (R) is often used to mean copy. Because of this, many companies want to protect their brands from others who may try to copy or misrepresent the name. Definition
A brand name identifies a specific product or name of a company. When a brand name is doing its job, it evokes positive images or emotions in consumers, which is why brand can be so valuable. And in some cases, the brand name becomes part of the everyday vernacular such as Kleenex (R) to mean tissue. Because of a brand name's importance, many companies want to protect it through trademark. A trademark is a registered brand or trade name. It can include any combination of a name, slogan, logo, sounds or colors that identify the company or its products or services. For example, the Nike Swoosh is a registered trademark. SUPPLIER : A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendor.
A vendor, or a supplier, in a supply chain is an enterprise that contributes goods or services in a supply chain. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. As a supplier, there are a number of steps you can take to make sure you are supplying safe products. 1. Be informed
2. Comply with all product bans and mandatory standards
3. Assess risks
4. Manage your risk
5. Have a good compliance program
6. Treat products individually
7. Ensure necessary tests are done
8. Market products according to their design and intended use
An intermediary (or go-between) is a fourth party that offers intermediation services between two trading parties. The intermediary acts as a conduit for goods or services offered by a supplier to a consumer. Typically the intermediary offers some added value to the transaction that may not be possible by direct trading. Common usage includes the insurance and financial services industry where e.g. mortgage brokers,insurance broker, and financial advisers offer intermediation services in the...
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