Asked by David Torrez on Jul 22, 2024
Verified
Travis has extra inventory of a product that he needs to get rid of. Using the elements of promotion, what might Travis do in order to sell his inventory quickly?
Elements Of Promotion
Components used in marketing to communicate a product's value to consumers, typically including advertising, sales promotion, direct marketing, personal selling, and public relations.
- Explain and delineate the fundamental components of the marketing mix.
Verified Answer
ID
Isamar DavilaJul 27, 2024
Final Answer :
Promotion is all the activities that communicate the value of a product and persuade customers to buy it. Promotion includes advertising, sales promotion, personal selling, and public relations.Advertising: Travis could increase the amount of advertising of the product or advertise it in different outlets, such as social mediaSales promotion: Travis could offer a coupon to entice customers to purchase the product, or perhaps offer free shipping if the product is sold onlinePersonal selling: Travis could make sure his salespeople are well-informed on the product and have them engage customers in an effort to buy the product.Public relations: If applicable, Travis could sponsor an event in which the product might be highlighted.
Learning Objectives
- Explain and delineate the fundamental components of the marketing mix.
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