The migration directory does not exist: application.migrations

To fix this, we should use the yiic file inside the protected folder:

protected/yiic.php
protected/yiic
protected/yiic.php

Successfully running migration commands should output the following:

php yiic.php migrate create create_deals_table
Yii Migration Tool v1.0 (based on Yii v1.1.15)
Create new migration '/Library/WebServer/Documents/webapplication/protected/migrations/m140810_060412_create_products_table.php'? (yes|no) [no]:yes
New migration created successfully.