Significance of Promotion

Marketing Mix:

Promotion and marketing strategies are inevitable part of any manufacturing unit or service provider. Marketing mix for Service Company consists of 7P. These 7p are:

1.    Product

2.    Price

3.    Place

4.    Promotion

5.    Process

6.    People

7.    Physical evidence

Basic model which a company has to follow in a service company is service marketing triangle. This service marketing triangle helps company to devise basics of framework for the company to act. Service triangle is as follows:

The three corner of the triangle is made of organization, customers and employees.

A.   Internal marketing in the form of motivating employees to deliver best to the customers happens between organization and employees.

B.   External marketing is done between organization and customers. Significance of external marketing is setting up of promise to the customers and assuring customers about the credibility of the service which will be provided by the company.

C.   Interactive marketing is done between the employees and customers. The significance of interactive marketing is when the company delivers whatever has been promised by the company with the help of their employees.

These corners are the basic pillars for any company to achieve success in its marketing campaign. If all these three marketing campaign is done effectively then the awareness and knowledge created because of the marketing tools will be immense and the students will definitely opt for this university without thinking twice.

Promotion is very significant in service industry because:

1.    Services are intangible in nature and thus services have to create a lot of awareness and visibility in front of target customers.

2.    Services are experienced and felt so services has to be branded so that target customers develop trust and faith over service provider.

3.    Services can be made tangible by supplementing it with best tangible products. But if the promotions are not done carefully then these tangibles won’t be effective and it will cause wastage of money.

4.    Expectation about the services is made in the mind of the customer because of the advertising and promotions done by the service providing companies.

5.    If the expectations exceed the perception of the quality of the service delivered then the customers are satisfied.

6.    These groups of satisfied customers are the group which is transformed into loyal customers. Loyal customers are the most profitable customers.

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