"Marketing mix" is a term used to describe the "four Ps" of marketing, which are price, product, place and promotion. These promotional strategies are ways companies communicate information about their products and services with the end goal of increasing sales (Reference 1). Examples of promotional strategies in marketing include advertising, public relations, personal selling and sponsorship (Reference 2).
Advertising is a promotional marketing strategy companies use to create awareness about their products and services. The goal of advertising as a promotional strategy is to generate a response from your target customer (Reference 2). You can use a variety of different types of advertising: television and radio advertisements; print advertisements in newspapers, magazines and journals; direct mail advertisements in which you send marketing materials directly to a select list of customers; and outdoor advertising such as posters, banners, signs and bus ads.
Public Relations is a promotional strategy that seeks to establish and maintain communication and understanding between your company and the public (Reference 2). Public relations is a long-term promotional marketing strategy that helps communicate positive updates about your company, product or service, and helps you control damage when a problem arises that puts your business in the public spotlight. Examples of public relations strategies you can use include press releases, media interviews, corporate web videos, company blogs and interactions in social media.
Personal selling is another promotional strategy you can use to market your business. Personal selling involves hiring one or more sales people to manage personal customer relationships and sell your products and services. Whether you have a large sales force or you do all the selling yourself, personal selling is an important strategy for the majority of businesses. When you determine your personal selling strategy, track and measure the business you bring in through your sales efforts to help establish best practices for effective selling.
Sponsorship is a promotional strategy in marketing in which your company pays to be associated with a certain event, cause or other organization (Reference 2). For example, large companies pay to sponsor professional sports teams, television events and international competitions such as the Olympics. In exchange for sponsoring these events, companies get brand exposure and publicity. At the local level, you can sponsor a little league team, local festival or concert to help spread the word about your business.