Question

discuss the following questions about Current Marketing Trends & Predictions for 2020/2021 You Should Be Thinking About which is "Social Media "

6- Include all four components of the promotional mix, as well as social media, when discussing the Marketing Mix or 4 Ps (Adv., PR, Personal Selling, and various Promotions).

Answer 1

Marketing Mix as far as Current Marketing Trends & Predictions for 2020/2021 is concerned has the following components:

PRODUCT: It refers to the physical goods or services that the company wants to offer to its customers and the potential customers as well. The products must be those items that are of the utmost importance to the customers. it includes necessities not necessarily the luxury items as far as today's uncertain environment is concerned. The main foci-us must be paid to the quantity and quality at less price. More focus must be paid on the products manufactured domestically.

PRICE: the price of the products must not be too much that a normal middle-class person cannot afford to buy. The current economic conditions are highly uncertain which is why the prices should be reasonable and must comfort the consumers.

PLACE: The place of distribution must b the location near the consumer's residency so that people do not have to walk a mile to get the product. More home deliveries are appreciated and encouraged. the companies must focus on selling products online so that less human interaction can be possible as far as today's pandemic situation is concerned.  

PROMOTION: The companies can use various promotional tools/methods in the following manner as far as today's circumstances are concerned:

Advertisement: It can be done by using banners and holdings in the marketplace as people get attracted to graphics and images easily.

Public relation: the company can join hands with the NGOs and various other government companies to build an image in the general public,

Personal selling: In this method, the companies must message the customers about early sales, discounts and either benefit so that customers can get an easy advantage,

Sales promotions: For such purpose, social media, press media, television, and radio are the best option to cover a large population.