The New Hybrid Element Of The Promotion Mix Pdf
A Group of MBA Students at Colombo University did a presentation on 'Social Media:The New Hybrid Elements of the Promotional Mix' in November, 2013. The presentation was based on a article by Glynn Mangold and David Faulds published by Kelly School of Business of Indiana University, USA. The main features of the presentation were the customization of the content to local situations and high use of social media in carrying out the presentation.Mangold, Glynn, & Faulds, “Social Media: The New Hybrid Element of The Promotional Mix. Social media: The new hybrid element of the promotion mix.
Citation: Mangold, W. Glynn, & Faulds, David J. Social media: The new hybrid element of the promotion mix. Business Horizons, 52(4), 357-365. Citation: Mangold, W.
Glynn, & Faulds, David J. Social media: The new hybrid element of the promotion mix. Business Horizons, 52(4), 357-365.
(PDF) Social media: The. The new hybrid element of the promotion mix.
With ample literature exploring this new hybrid element of the marketing.This innovative and high learning presentation was well received by the audience and it set a new benchmark for future MBA presentations. The emergence of online has made it possible for one person to communicate with hundreds or even thousands of other people about the products and the companies that provide them. Thus, the impact on the consumer-to-consumer relationship was significantly increased in the market. The paper argues that social media is a of promotion mix, because in the traditional sense, it allows the company to talk to their, while in the non-traditional sense, it allows clients to communicate directly with each other.Content, timing and frequency of social media-based conversations occurring between consumers are outside the direct control of managers. This means, in contrast to traditional integrated marketing communications paradigm that degree of control is present.
Thus, managers must learn to shape consumer discussions in a way that is consistent with the mission of the organization and performance goals. The methods by which this can be outlined here. These include providing consumers with networked platforms, and with the help of blogs, social media and promotional tools to attract customers.
Glynn Mangold, David J. Faulds Source: 9 pages.Date: July 15, 2009. #: BH338-PDF-ENG. Post navigation.
However, advertising doesn’t allow the prospects to directly engage with the company because it is a one-way promotional tool. In addition, it can be expensive and out of reach for many small businesses.
In most cases, advertising online generally enables businesses to more closely target their consumers while remaining cost effective. For example, the small business that sells environmentally friendly clothing can advertise through social media ads targeting anyone who is part of an environmentally conscious group on Facebook. Establish Trust With Personal Selling.
One of the major benefits of sales promotions is that they are a great way for businesses to quickly increase their revenue in a short period of time. When tied to a specific event or holiday, such as Valentine's Day or the end of the school year, for example, sales promotions can be quite successful.
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However, businesses need to be careful that they don’t make customers dependent on sales promotions. Sometimes, offering too many promotions causes customers to hold out and wait to make a purchase until they receive some kind of added value. The business sends out specific messages to a small segment of its audience based on the prospects’ interests, past purchasing history and a number of other factors. Because the message is specifically designed for this segment, there is a greater chance that the audience will take notice. Direct marketing is often used to announce company information such as new product lines and new sales promotions. In order for direct marketing to be successful, businesses need to ensure their contact lists are up to date and easy to filter and contain the necessary information. Anam Ahmed is a Toronto-based writer and editor with over a decade of experience helping small businesses and entrepreneurs reach new heights.
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She has experience ghostwriting and editing business books, especially those in the 'For Dummies' series, in addition to writing and editing web content for the brand. Anam works as a marketing strategist and copywriter, collaborating with everyone from Fortune 500 companies to start-ups, lifestyle bloggers to professional athletes. As a small business owner herself, she is well-versed in what it takes to run and market a small business. Anam earned an M.A. From the University of Toronto and a B.A.H.
From Queen's University. Learn more at www.anamahmed.ca.