A vital component of a successful marketing strategy is the company’s plan for communicating with its stakeholders. One segment of the communication plan is included in the marketing mix as the promotional element. A clear understanding of the role that promotion plays, as well as the various methods of promotion, is important in developing the promotional plan.
The following questions should assist you in relating the information in this chapter to several decisions in your marketing plan.
● Review the communication process in Figure 16.1. Identify the various players in the communication process for promotion of your product.
● What are your objectives for promotion? Use Table 16.1 as a guide in answering this question.
● Which of the four elements of the promotional mix are most appropriate for accomplishing your objectives? Discuss the advantages and disadvantages of each.
● What role should word-of-mouth communications, buzz marketing, or product placement play in your promotional plan?
