Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Effectiveness of online advertising
Philosophy of personal selling
The effect of online advertising
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Effectiveness of online advertising
The promotional mix is one of the 4 Ps of the marketing mix. A marketing mix is the combination of the elements of marketing and what roles each element plays in promoting the products and services and delivering those products and services to the customers. It should be designed in a way that it will inform the target market about the values and benefits an organization’s products or service offered.
There are various tools and elements available for promotion. These are adopted by firms to carry on its promotional activities. The marketer generally chooses a combination of these promotional tools. The main aspects of a Promotional Mix are as follows
: In simple words, public relations mean maintaining public relations with public. By maintaining
…show more content…
It is suitable for sale of complex products where buyer wants to interact with the manufacturer.The personal selling does not mean getting the prospects to desire what seller wants but the concept of personal selling is also based on customer satisfaction. It is one of the most expensive forms of promotion. When the seller and buyer come together this may improve relation between the customer and seller.
Examples: personal meetings, telemarketing, e-mails, and correspondence
Since Chai pe Charcha is a new brand, for the purpose of entering into the market, the Entrepreneur will launch some outlets in limited cities. Later as and when the sales increases, the company can open many more outlets. But for this the company has to follow proper promotional mix to succeed in the market. Along with the above promotional mix, the company can also use other promotional mix such as creating a product website on the internet with all information embedded to explain to consumers about the varieties of tea, its quality, outlets, etc. and appointing print and electronic media channels for marketing of tea
The 4 Ps of the marketing mix are: Product, Promotion, Price, and Place. The marketing mix puts the right products, at the right price point, in the right place, at the right time. The following examines how Claire’s Chocolates optimizes its marketing mix (Yoo, Donthu, & Lee, 2000, 195-196).
Intro Deciding what you want to study during your college career can be a difficult and tedious task. This is due to fact that many young adults coming out of high school are unsure of what they want to do or what path to take career wise. It is also tedious because this requires that these individuals have to constantly try and explore new avenues so that they can find their passion in life. The path I chose to take when coming out of high school was entering the business school at Howard University.
Personal selling will be measured in both qualitative and quantitative terms. Salespersons will have to fill reports regarding the interlocutors behaviour and product knowledge.
When a business aims to be as successful as possible in selling its products and services, it must examine in detail whether or not the products will be attractive and necessary; if the price is optimal; if the product is being distributed in the best locations; and finally, how interest and awareness can be created for the products. In order for a business to target all of these elements at the right people at the right time, it must employ the right type of marketing mix: Product, Price, Place and Promotion.
The marketing mix, which is basic to any organization, can be considered the ‘controllable’ variables that every business encounters. These controllable variables can be modified based on the uncontrollable variables (external factors found in Environmental Scan) that directly affect business operations. A company focuses on four elements in the marketing mix: Product, Price, Place, and Promotion, which are managed and coordinated through marketing programs in efforts to appeal to their target market. Marketers strive to understand what motivates consumers to purchase certain products. The marketing mix helps to break down some of these questions: What will consumers buy? How much will they spend? Where will they buy? And will they buy again?
I have found various items from all four of the promotional mix elements. Effective promotional campaigns require a solid mix of items from the four elements. Companies seek to find the right variety from the four elements, and sometimes do not use all four elements. Tide racing uses all four items to promote their sponsorship with NASCAR.
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand of products in the market. Price, Product, Promotion and Place, are known as the 4Ps that make up a typical marketing mix. As marketing evolves, there are additional Ps that can also be included in the marketing mix, however, focusing on the 4 core Ps of the marketing mix, price, place, promotion and Product, taking an in-depth look at the aspects of Victoria’s Secret in general and in terms of the selected product. All the elements of the marketing mix influence each other. They contribute to the business plan for a company and if managed correctly, can give it a great success. In order to successfully master marketing mix, it needs understanding,
Promotion. Finally comes promotion - informing the customer on the qualities and advantages of the product so that the potential buyer learns about the product, prefers it to those of the competitors, and has an opportunity to buy it at some place.
Personal Selling Personal selling is where businesses use people to sell the product after meeting face to face with the customer. The sellers promote the product through their attitude, appearance, and specialist product knowledge. They inform and encourage the customer to buy or at least trial the product. A good example of personal sales is found in department stores on the perfume and cosmetic counters.
The 4 Ps of marketing refers to the terms product, price, promotion and place. These four components make up what is known as the ‘marketing mix’. Each of the Ps focuses on a different element of the marketing mix. Product refers to the actual good or service on offer from a business. Price refers to the price set for the aforementioned product, and the particular pricing strategy that the firm has chosen to implement. Promotion refers to the promotional strategies that are used to sell the product, and the communication that is undertaken to persuade customers to purchase the product. Finally, place refers to the method of distribution used to get the good and/or service from the firm to the customer. The 4 Ps marketing mix is commonly
The marketing mix is important to the sport industry because it allows a sport marketer to better understand the market they are selling in, and enables a sport marketer to generate an increase in revenue. The marketing mix contains the four p’s, which include: product, price, place and promotion. Each of the p’s in the marketing mix are all vitally important because they are what you are selling, why you are selling, where you sell it at, and how you promote what a sport marketer is selling. The marketing mix is essential to the sports industry because it enables a sport marketer to better understand their product, and improve sales.
The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer. As companies start out in an industry, many marketers learn about putting the right product in the right place, at the right price, at the right t...
In all reality, all businesses will, in some way shape or form, complete all of the marketing activities, even if completing these activities is not their main goal. (Dlabay 2006.) These marketing activities are product, place, price, and promotion. A business tool called that marketing mix takes all of these activities and puts them together in a way that can be used to help improve a business’s marketing strategy. Product is what the company is selling; Place is where the consumer will obtain this product; Price is what the consumer will pay for the product; Promotion is any type of communication that is intended to remind, inform, or persuade. (Dlabay 2006.) The marketing mix and the four P’s describe very well what business marketing is all about.
Formerly the scope of marketing used to remain very much limited since the wants of the consumers too were quite limited. The competition was almost equivalent to nil. In the marketing, the satisfaction of the consumers was not at all considered. The marketing was commodity based and immediately after the sale of the products, the marketing process was over. Nowadays, the scope of marketing has become quite extensive, and the satisfaction of the customers too is kept in view. The process of marketing continues even after the sales have been affected. Today, the function of conforming the product, in accordance with the changing wants, habits and fashions of people, is undertaken by the process of marketing. Within the scope of marketing, -the following activities are
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)