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Customers need to be aware of the existence of a product. This is achievable only through promotion. Creation of brand loyalty and sales generation is also experienced on the side of the producers. Demand is raised when this information is presented to the customers. Products get differentiated through a promotional swag.
Transmitting of non personal communication through a mass media is known as advertising. Newly produced goods needs to be advertised. This will help in making sure that the customers will know of its existence. Rational choice making will be facilitated. Consumers search costs, which also includes time are reduced since the retail location and qualities of products are given. The choosing of a brand is made easier.
Publicity is a free promotion tool through new stories in newsletters, newspapers, magazines and television. Newspapers and magazines are the cheapest means that promotion can be carried out. Television is image oriented and conveys little information beyond the existence of a product. Television and radio are mostly preferred as they are accessible to a large proportion of the population.
Sales promotion involves coupons, large volume discounts, sampling, demonstrations, exhibits, trade allowances, samples and point of purchase displays in designing a promotional plan. These forms of communication are not found in advertising and personal selling. They are targeted to a specific group of people who have been in good business terms.
When considering the idea of carrying out these strategies, you must consider the capital to be used. The measurement of effectiveness in promotion and media costs is not easy and therefore, the allocation becomes difficult. Measurable objectives should always be stated clearly. The method to be used must be cost effective, appropriate and effective in being compatible with the marketing strategies that are competitive. It is affected to the group of those that are intended to be the future buyers.
A good strategy of this process must be capable of attracting the highest number of consumers. This will result in higher profits on the side of the seller and hence his goal will be fulfilled. It ought to be able to change how a customer perceives a particular product and make it more preferred than the others. The proportion of costs to the benefits received should be low if management is well performed.
When promotion is not done through media that will be able to reach the target audience, no benefits will be received as the information is not passed effectively. The most common forms on promotion are based on factors such as quantities, prices and qualities. It entails either selling a product with reduced prices or through allowing of huge discounts. It may be used to trigger new buyers to start using the goods.
Profits could reduce initially but will eventually rise with good strategies. This implies that most customers are now aware of the required information. Competition raises the costs of promotion. The products being promoted should meet the tastes and preferences of the customers.
Transmitting of non personal communication through a mass media is known as advertising. Newly produced goods needs to be advertised. This will help in making sure that the customers will know of its existence. Rational choice making will be facilitated. Consumers search costs, which also includes time are reduced since the retail location and qualities of products are given. The choosing of a brand is made easier.
Publicity is a free promotion tool through new stories in newsletters, newspapers, magazines and television. Newspapers and magazines are the cheapest means that promotion can be carried out. Television is image oriented and conveys little information beyond the existence of a product. Television and radio are mostly preferred as they are accessible to a large proportion of the population.
Sales promotion involves coupons, large volume discounts, sampling, demonstrations, exhibits, trade allowances, samples and point of purchase displays in designing a promotional plan. These forms of communication are not found in advertising and personal selling. They are targeted to a specific group of people who have been in good business terms.
When considering the idea of carrying out these strategies, you must consider the capital to be used. The measurement of effectiveness in promotion and media costs is not easy and therefore, the allocation becomes difficult. Measurable objectives should always be stated clearly. The method to be used must be cost effective, appropriate and effective in being compatible with the marketing strategies that are competitive. It is affected to the group of those that are intended to be the future buyers.
A good strategy of this process must be capable of attracting the highest number of consumers. This will result in higher profits on the side of the seller and hence his goal will be fulfilled. It ought to be able to change how a customer perceives a particular product and make it more preferred than the others. The proportion of costs to the benefits received should be low if management is well performed.
When promotion is not done through media that will be able to reach the target audience, no benefits will be received as the information is not passed effectively. The most common forms on promotion are based on factors such as quantities, prices and qualities. It entails either selling a product with reduced prices or through allowing of huge discounts. It may be used to trigger new buyers to start using the goods.
Profits could reduce initially but will eventually rise with good strategies. This implies that most customers are now aware of the required information. Competition raises the costs of promotion. The products being promoted should meet the tastes and preferences of the customers.
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