Final answer:
The factors affecting decisions regarding the promotion mix in business include the target audience, the nature of the product or service, and the available budget.
Step-by-step explanation:
The factors affecting decisions regarding the promotion mix in business include the target audience, the nature of the product or service, and the available budget.
Target audience: Different promotion strategies are required for different target audiences. For example, if the target audience is young people, social media platforms may be more effective than traditional advertising methods.
Nature of the product or service: The type of product or service being promoted will influence the choice of promotion mix. For instance, if the product is a luxury item, a combination of high-end advertising and personal selling might be used.
Available budget: The budget allocated for promotion will dictate which tools and tactics can be employed. Businesses with larger budgets may be able to use a wider range of promotional methods.