Read the following case study and answer question.

Nisha, Saurabh and Adarsh were friends from college days and now they are doing different kinds of Business. Nisha has started a footwear manufacturing company and has decided to identify the needs of the customers to start successful marketing of the footwears produced by her company and for this the company is doing SWOT (strength, weakness, opportunity and Threat) Analysis.

Saurabh is a distributor of tea. He has opened a distribution agency which deals in tea selling. He has categorised the tea to be sold into three different categories- Red, Yellow and Green.

Adarsh started a Refrigeration manufacturing company and currently is spending substantial amount of money to persuade the target customers to buy its refrigerators through advertisements, personal selling and sales promotion techniques. They regularly meet and discuss their business ideas and exchange notes on customer satisfaction, marketing efforts and social concerns too. In one of such meetings, Adarsh told Nisha and Saurabh that his competitor, with an established Brand name has launched new product with the same name. This has helped his competitor in saving a lot of expenses on building reputation and giving an excellent start to the product. The new product is doing amazingly well and has caught attention of the media. Since the product is enjoying a lot of reputation, the customers are ready to pay high prices for it, in comparison to the same product launched by Adarsh's company.

One of the following is not a part of promotion Mix. Identify it.

Warranties

The correct answer is Option (3) → Warranties

Promotion mix refers to combination of promotional tools used by an organisation to achieve its communication objectives. Various tools of communication are used by the marketers to inform and persuade customers about their firm’s products. These include: (i) Advertising, (ii) Personal Selling, (iii) Sales Promotion, and (iv) Publicity.
These tools are also called elements of promotion mix and can be used in different combinations, to achieve the goals of promotion.