Promotion is one of the four elements of the marketing mix, which includes advertising, sales promotion, personal selling, and public relations. Promotion involves communicating with potential customers about a product or service to persuade them to make a purchase. When analysing this aspect of the marketing mix, marketers need to consider various factors such as the target audience, message content, media channels, budget allocation and evaluation metrics.
Airwallex’s promotion activities include social media advertising, email marketing campaigns and events sponsorship. These promotion activities support the positioning bases recommended in Assessment 02 by promoting Airwallex as an innovative and reliable payment solution for businesses. For instance, Airwallex sponsored events like “Fintech Week” in London to showcase its technology platform’s capabilities in facilitating cross-border payments. This activity aligns with the positioning base of innovation that was recommended in Assessment 02.
Moreover, Airwallex leverages email marketing campaigns to inform its subscribers about new products and services while also providing educational materials on how to use their products effectively. This approach supports the positioning bases of expertise and reliability that were suggested in Assessment 02 since it demonstrates Airwallex’s knowledge of the industry and commitment towards offering reliable payment solutions.
According to Forbes (2020), Airwallex’s successful promotional strategies have contributed to its rapid growth over recent years. The company has raised over $360 million from investors globally since its inception in 2015 due to its innovative approach towards payment solutions for businesses.
In conclusion, Airwallex’s promotion activities align with the positioning bases recommended in Assessment 02 by showcasing their technological innovation and reliability through sponsorships and informative email campaigns respectively. These efforts have contributed significantly to their success as a growing payment solution provider for businesses globally.
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