Electricity Crisis

In: Social Issues

Submitted By jholie
Words 1639
Pages 7
PRODUCT PROMOTION
 Is the act of advertising a good or services with the short/long term goal of increasing sales.

FOUR FACTORS WHICH MARKETING DECISIONS MAKING WITH REGARD TO PROMOTION:

1.) THE PROMOTION BUDGET AVAILABLE
 The amount of money available for promotion is the real determinant of the mix. BIG companies can make greater and more effective use of advertising than firms with limited resources. Small businesses rely on personal selling dealer displays.
2.) THE NATURE OF THE MARKET
 The influence of the nature of a company’s market is affected by the Geographic scope of the market, its concentration and type of customers and nature of competition.
3.) THE NATURE OF THE PRODUCT
 Consumer product and industrial goods frequently require different strategies. For instance, firms marketing convenience goods will rely heavily on manufacturer’s advertising, plus emphasis on dealers display. Personal selling plays a minor role, for industrial Goods such as machinery.
4.) THE STAGE OF THE PRODUCT PROMOTION’S LIFE CYCLE AND THE TARGET PROMOTION
 PRODUCT LIFE CYCLE (CPLC) – the course of a product’s sales and profit over its lifetime. Every product seem to go to PLC –it is born, goes through several phrases, and eventually dies as younger products come along that better suit and serve the consumer needs.

METHODS USED TO PROMOTE A PRODUCT:

A. ADVERTISING
 Is a tool that is available for everyone to use. Presentation and promotion ideas, goods, or services. ADVERTISING is MULTIDIMENSIONAL. I t can be viewed as a form of communication, as a component on an economic system, and as a means of financing the mass media. It can be also viewed as a social unit, as an art form, as an instrument of business management, as a field of employment, and as a profession.

 OBJECTIVES OF ADVERTISING
The ultimate Goal of advertising is to increase the…...

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