Principle of Marketing: Promotion as a marketing mix

len Alfred Ajibola - Mon, 23rd March, 2020 @ 08:15 PM

Topics in Commerce

Contract of Employment: Terms of employment contract Principle of Marketing: People as a marketing mix and their importance Principle of Marketing: Positioning as a marketing mix Principle of Marketing: Packaging as a marketing mix Elements of promotion in marketing mix Principle of Marketing: Promotion as a marketing mix Principle of Marketing: Place as a marketing mix Principle of Marketing: Price as a marketing mix Principles of Marketing: The seven principles of marketing mix Factors necessary for division of labour Disadvantages of division of labour Advantages of division of labour Concept of Outbound Marketing Inbound Marketing explained Types of production in commerce Commerce: Definitions and Scopes of Commerce Differences between balance of trade and balance of payments Balance of payment deficit and balance of payment surplus Disadvantages of foreign trade Divisions of foreign trade

Academic Questions in Commerce

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In commerce, which of the following is false with regards to a commodity?

  • A. A commodity must always have a market value

  • B. Rendered services are also instances of commodities

  • C. Products applicable to commodities can be bought or sold with money

  • D. A commodity must be standardized

  • E. A commodity must be usable upon delivery

  • F. Commodities can be traded in the futures market

Whatever is being marketed must always provide value to its potential consumers.

  • A. True

  • B. False

Which of the following is not a branch of marketing?

  • A. Merchandising

  • B. Promotions

  • C. Forex

  • D. Search Media Optimization

  • E. Social Media Optimization

  • F. Copywriting

Which of the following is not a characteristics of commerce?

  • A. The only aim of commerce is to make profit

  • B. It is a discontinuous process after profit had been made

  • C. It is accompanied with challenges and uncertainties

  • D. It is 100% business and economic activity

  • E. Transaction processes are always involved in commerce

  • F. It connects the process of production and marketing

Which of the following is not a function of commerce?

  • A. Unnecessary in times of emergencies like earthquakes and wars

  • B. Facilitates mass production of goods

  • C. Influences transportation network within and outside a state

  • D. Attempts to satisfy human needs and wants

  • E. Improves the standard of living

  • F. Acts as an online business link between buyers and sellers

One of the following is a form of division of labour.

  • A. Agonistic division of labour
  • B. Antagonistic division of labour
  • C. Mutualistic division of Labour
  • D. Advanced division of labour
  • E. Solitary division of labour
  • F. Occupational division of labour

A place where people buy homogenous goods in large quantities is called _____.

  • A. Wholesaler's Market

  • B. Goods Market

  • C. Products Market

  • D. General Market

  • E. Commodity Market

  • F. Forex Market

Any activity aimed at getting people interested in a company's product or service is termed _____.

  • A. Commerce

  • B. Economics

  • C. Financial Accounting

  • D. Marketing

  • E. Production

  • F. Distribution

Promotion as a Marketing Mix:

A producer may have a quality product that is needed in high demand. However, if the consumers aren't aware of such product, then the producer will not make sufficient sales regardless the product's quality. In fact, if a similar product (with lower quality) is known by the consumers, then it may likely make more sales.

The above instance is an attribute of promotion in marketing and it is crucial for every business.

Please read more on the concept of marketing here.

Promotion is a vital step in marketing and will directly lead to an increase in sales. It creates a communication bridge between the producers (of a product) and consumers (customers and potential customers that will use the product). Through this bridging process, promotion as a marketing mix therefore attempts to stimulate the consumer's interest in a specific product.

Please read the introduction to the principle of marketing mix here.

According to some scholars of advertising and marketing; for instance, McCarthy and Perreault, promotion in marketing mix is defined as any action that transmits information between a seller and its potential buyers or other members of the channel of distribution to influence their attitudes and behaviors.

Please read on retailers as channels of distribution here.

Note: Promotion in marketing functions to create awareness about a product, thus making it known, desired and remembered.

The promotion of various products is seen on a daily basis. For instance, you may see some advertisments in the course of reading this article. Some readers can become attracted to the advertisement and may eventually click on them in order to satisfy their curiosity, needs or wants.

You can read on scale of preference and opportunity cost here.

The elements, processes or tools of promotion will come in the form of marketing strategies like advertisement, product branding, publicity, discounts, freebies, handbills, posters, public relations campaigns, events, merchandizing, online awareness via social media, search engine optimization (SEO), adverts on blogs and so on.

Please read more on the elements of promotion in marketing mix here.

One of the main challenges that producers often encounter during promotion occurs in the identification of appropriate consumers for their product. This implies that there is a possibility of promoting a product through marketing to the wrong sets of consumers. For this reasons, there is this concept termed targeted advertising.

Please read more on advertising here.

You can also read on inbound marketing here.

Targeted advertising is a form of online advertisment that focuses on placing 'ads' (or adverts) based on the consumers' demographics, internet activities and previous online buying history. It is an ideal and effective means of promoting a product; and that's perhaps why it is popular on the internet. In fact, Google as an advertising giant utilizes targeted advertising in their advertisment scheme which comprises of Google AdSense and AdMob. This is why you may see adverts on webpages that relates to your needs.

Please read on place as a marketing mix here.

Another way Google goes about its targeted Advertising is by utilizing the consumer's previous activity on the internet to display relevant adverts to them. For instance, if you checked out a phone on the internet, Google may use this activity of yours to present phone adverts whenever you read an article on a website approved for Google advertising. The point is: whatever is being advertised is preferably promoted to the right audience who eventually patronizes the producer of such product or services.

You can read on price as a marketing mix here.

If promotion is done right, more sales will be guaranteed because it has proven to become a fundamental principle of the marketing mix.

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Amazing facts in Commerce

With Amazon Smile, you can donate 0.5 percent of your purchases to a charity of your choosing

Check it out here

The brewery, Sankt Gallen in Japan, produces a beer called Un Kono Kuro from elephant's dung

North Korea and Cuba are the only countries in the world where you can't buy Coca-Cola

Amazon is an e-commerce website launched in 1995. It did not make any profit for its first seven years.

Amazon's first profit was in 2003. Its founder 'Jeff Bezos' is the richest man in the world as at 2018/2019


prepayment is somewhat an opposition to deferred payment. This is true because the concept of prepayment oversees that the buyer makes payment beforehand and must wait to enjoy whatever had been paid for after some significant time had elapse.

In short, you can think of a prepayment as 'paying in advance'. An example is when a tenant pays in advance to a landlord for an apartment yet to be used. Another example is an online payment for items yet to be received.

Deferred payment is defined as a future payment eventually made after a buyer receives goods and services without an initial payment. Think of it as the: 'buy now, pay later' type of transaction.

From the perspective of the seller, the money yet to be received after the supply of goods or services is called an accrued revenue, unrealized revenue or accrued assets.

According to the buyer, the money yet to be paid after the delivery of goods or services is called an accrued expense. For instance, a company that owes employees salary can be said to have an accrued expense.

Please read more on deferred payment here

For an item to be considered a commodity, it must satisfy three conditions. These are:

  1. It must be standardized. In the case of agricultural commodities, they must be in their unprocessed state.

  2. It must be usable upon delivery

  3. The price of a commodity item must vary.

A commodity market can therefore be defined a place where people buy and sell homogenous goods in large quantities.

Homogeneous goods are products that essentially have the same physical characteristics (or qualities) as similar products from other brands.

It is noteworthy to state that foreign currencies, data and bandwidth have all been included as part of today's commodity markets. In this regard, a commodity market will always have it's own set of rules and regulations.

Please read more n commodity market here

Marketing is a broad field of study. Below are branches or divisions of marketing:

  • Advertising

  • Search Engine Optimization (SEO)

  • Merchandising

  • Branding

  • Promotions

  • Copywriting

  • Social Media Optimization (SMO)

  • Event planning

  • Customer Relationship Management (CRM)

  • Graphic Design

  • Internet Marketing

Marketing is defined as any activity or process aimed at getting people interested in a company’s product or service.

The processes utilized in marketing can take place via posters, public relations campaigns, handbills, social media, radio and television, buses, walls along the streets, the internet or just anywhere.

Below are some of the branches of marketing:

  • Advertising

  • Search Engine Optimization (SEO)

  • Merchandising

  • Branding

  • Promotions

  • Copywriting

  • Social Media Optimization (SMO)

  • Event planning

  • Customer Relationship Management (CRM)

  • Graphic Design

  • Internet Marketing

Please read more on marketing here