 Welcome learners of BBA program and we shall discuss in these three videos unit 9 of your marketing management course. Unit 9 is all about promotion and promotion as you all know marketing mix product price place promotion this is the fourth P though this is the fourth P does not mean that this P is not important this is equally important in many cases it could be more important than the other P's so it is very important promotion in terms of marketing mix. So we shall discuss promotion in three videos and this video this discussion is based on your self learning material. So we have taken up this learning objectives from this particular video that we should be able to define promotion what promotion is all about then we shall be able to discuss what are the different types of promotion and then we shall be able to identify the factors which affect promotional mix and strategies. So what is promotion what are the different types of promotion and what are the factors which affect promotion these are the three things we shall try to understand and after attending this particular video you should be able to describe what promotion is all about what are the different types of promotion and what are the factors which influence promotion let us first discuss what promotion is. So as you all know promotion is the fourth component is one of the major components rather say one of the major components of marketing mix. So what are the other components of marketing mix as you all know product price place promotion all starting with the letter P basic marketing mix. So promotion is one of that one of the component so it is the aspect of communicating the benefit of the product or the service to the end consumers to the target customers so that to persuade them to inform them so that ultimately they purchase the product. So it is the kind of communication persuasion which is directed at the consumers so that they purchase the products that is promotion objective is to promote the product objective is to promote the product. So promotional techniques are used both by industrial marketers as well as consumer marketers. Consumer marketers say suppose Maruti Width Dog Limited they require paints so Asian paints Gentian and Neculsion they will go Bursar paints they will visit they will convince the Maruti manufacturers that please use our products. Say different tire manufacturers say Apollo right different tire manufacturers any brand that they will visit the Maruti Width Dog Limited and will request that please use our tires in the end products of your company so that is also one aspect of promotion and then suppose the different advertisements which are given across the mass media those are also promotion that is targeted at the mass customers so it is applicable in case of industrial marketing it is applicable in case of consumer marketing consumer marketing is directly related with consumers industrial marketing is related with institutions industries so different marketers use different advertising media some might use television some might use radio some might use cinema some might use newspaper some might use magazine some might use say personal selling posts some might use holdings so different marketers might use different media so for expensive complex production system suppose you are right you are the working in a software company and you are having a software package for the bankers so in that case right that is a complex products so that would be an expensive product also so those kind of things right there it may be team buying team selling a team of buyers will be there so bank not only the manager the manager will be assisted by some other persons the ship general manager would be assisted by deputy general managers the general managers so they will have a team process team likewise from the software side also they will be having the software the software specialist the finance specialist like that so that will be the team buying and team selling because it's a complex product it's an expensive product so it requires close coordination promotion mix you know marketing is all about mixes product price space promotion is a mix it's a mix of what the set of controllable variables promotion itself is a mix promotion comprises the number is a subset of marketing mix marketing mix is the bigger set within marketing mix product price space promotion which promotion there is a mix elements these are all controllable variables so the in your slm you will find there are three mix elements one is advertising second one is sales promotion third one is personal selling fourth one is publicity this personal selling is separately discussed discussed in one other unit so we shall have a discussion on that personal selling in some that particular unit but advertising publicity and sales promotion this we are going to discuss in this particular video in the subsequent part of the video but in this particular thing we are also going to discuss the factors affecting promotional mix and strategies so what are the factors which affect promotional mix and strategies necessary of the product it is complex differentiated frequently passes so for complex products just now i have given you the example of the software which is specifically developed for the bankers to say the complex product so it requires personal selling close coordination between the buyer's team and the seller's team the product is differentiated suppose a god dredge easy detergent for woolen clothes so the consumers will have to know that this is for woolen clothes only not for any other clothes so that is a differentiated product so that particular communication will have to be given to the consumers to advertisement and it's a frequently passes for that it could be called get toothpaste so it says they to the reminder because it is a frequently used product every morning we use it so the marketers will always give day to the reminder so the national reminders so like the software advertisement call get advertisement will not be the same so the national of the product is important as an important factor which determines the types of promotion it could be the national of the market if it is consumer market the national of promotion will be different if it is industrial market the national of promotion will be different stage in the product lifecycle you know the four phases of product lifecycle introduction growth maturity decline so depending upon the stage of the product lifecycle it also varies if it is introduction stage the market will have to be introduced a new product so more so more information maturity stays market already knows about the product so it's a reminder growth stays is maybe both more of information and more of reminder you come passes use the product so depending upon the stage of the product lifecycle in case of decline stays suppose we may be required to give some sales promotion buy one get one free to clear up the inventories market penetration if we are going to have say wider market coverage means what we like to go for wider promotion so depending upon the there are some other factors also market size and location if the market size is very huge large in that case we shall have to go for wider advertisement if the market is concentrated located say the it's a highly right applicable only in Assam so in that case we'll have to make use of Assamist language Assamist medium so location of the market will also determine the promotion to be chosen characteristics of buyers if the buyers are educated well informed in that case we'll have to give them right not the basic information we'll have to give them the clear information the more several information right the information which they can make use of and the characteristics of buyers if they are real buyers the real buyers may not be that educated buyers so in that case we may be required to put the give the basics information about our products so depending upon the characteristics of the buyers we may be required to device our promotion strategy and then the distribution strategy suppose our products are exclusively distributed so in that case we shall have to inform the market that our products are not available in all the outlets this is available only in exclusive outlets or these exclusive products are available in exclusive outlets only others are available in some other districts so means what this depending upon the distribution whether it is selective distribution intensive distribution practice distribution accordingly our promotion also will be dependent and last one is pricing strategy if it is hyper pricing it's a premium pricing that a premium image will have to be maintained so premium image needs to be maintained with quality advertisement if we are going for a Saudi and say like a cheap kind of advertisement right in that case the premium MS it will not suffice it will not substantiate so depending upon the pricing of the product depending upon the characteristics of the buyers right all these factors influence the promotional mix so we have discussed basically that what are the promotional by defining promotion the types of promotion and which are the factors which affect promotional decisions promotion is basically to promote the products promotion can be done through advertisement sales promotion personal selling like that and it can be affected by a number of factors which we have outlined thank you the remaining part we shall discuss in the other two videos thank you