Section 4
Selecting the Promotion Mix for a Particular Product
By Boundless
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There are three main promotional objectives: inform the market, increase demand, and differentiate a product.
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There are four stages in the product life cycle: introduction, growth, maturity, and decline.
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The different characteristics of a target market are geographic, demographic, psychographic, behavioral, and product related.
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The unique characteristics of a product should be used as inputs in determining the product's marketing mix.
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Different types of buying decisions can involve logical, impulsive, and emotional motivations.
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Marketing departments need to look at what types of advertising are available that will keep them within budget.
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Push and pull strategies are promotional strategies used to get the product to its target market.
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Trade promotions are targeted toward retailers while consumer promotions are targeted toward consumers.