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State the marketing communications tools
There are five main marketing communications tools: advertising, sales promotion, public relations, direct marketing and personal selling. Though, there have been some key changes in the environment and in the way organisations communicate with their target audiences. New technology has given rise to a raft of different media whereas people have developed a variety of ways to spend their leisure time. This is referred to as media and audience fragmentation and organisations have developed fresh combinations of promotional mix in order to reach their audiences effectively.
1. Using recent and current examples, explain how a marketer would decide whether a penetration or skimming pricing strategy would be more appropriate for a new product or service.
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