...MKTG - 410 Sales Promotion Objective: For the objective of the sales promotion plan this is more aimed towards the people they're looking to save money by using coupons, discount codes, and other sorts of items I'll take a certain percentage of off of items. We are going to want to be sending out more of these coupons try to get more people in this door whether the actual physical store or through our online website and catalog. Throughout the year will be having different sales and promotions and some will include Black Friday, Easter, Christmas, New Year's, and super bowl sales. The research and analysis of past markets we are able to understand that with promotions during these times sales dramatically increase. This is similar to the Internet marketing and direct marketing segment seeing how we will be both e-mailing and physically sending newsletters to the people that have signed up for the service, we will also be adding this into our weekly and monthly newsletters that are available for pickup at any local store across the nation. Along with our normal newsletters that we have organized a special want they'll give the people their Best Buy reward zone customers a special 40% off any item in the store two times a year. By doing this we are not be able to draw more people in both landline and in the physical store to help increase sales for the fiscal year outperformed the previous years. Budget: For the sales promotion plan that we're going to create there...
Words: 1052 - Pages: 5
...the marketing strategy. The marketing management process consists of planning activities, directing the implementation and controlling. This is expected of the marketing manager. The planning that a marketing manager does is considered a marketing strategy. The marketing manager has to determine the target market. The target market is the type of customers that product is for. For example, Chuck E. Cheese is a place for kids to have fun. So Chuck E. Cheese target market is kids. The marketing mix everything to do with the marketing strategies. Marketing mix this the controllable variables that an organization put together to satisfy the target market. When developing the marketing mix there are four elements product, place, price and promotion. When these four elements are used correctly and adjusted to meet the needs of the organization, it will bring the income that organization was looking for. The four Ps are also considered marketing activities that is a part of the marketing mix. Each element of the marketing mix work hand in hand. The elements of the marketing mix focus on the customer which makes all elements equally important in the marketing mix. The first element of the marketing mix is product. A product is consider a physical good, a service, a feature, benefits, quality level, accessories, installation, instructions, warranty, a product line, packaging, and branding. When the product is developed, the right target market needs to be considered. The second...
Words: 1480 - Pages: 6
...Executive Summary Best Buy is the #1 “big box” electronic retailer that offers a wide variety of electronic goods and products (Case Assignment: Best Buy). Since it caters to a niche consumer market there is a high demand for our products, which causes a downward pressure on prices. An opportunity for Best Buy to increase revenue would be to offer longer guarantees on products and financing options. However, natural disasters and manufacturing defects pose a great threat to maintaining our high quality inventory and image. Our leading competitor, Wal-Mart Superstores, also poses a threat as they continue to climb the electronic market share. In order for Best Buy to differentiate themselves from any other competitor, SWOT Team is investigating ways to build on its business-to-consumer success and move into the business-to-business world. SWOT Team recommends that Best Buy includes personal, door-to-door selling of products to businesses. The reasons behind this decision would be the competitive advantage over Wal-Mart Superstores. An increase in the quantity of products sold will positively increase Best Buy’s profits. The amount of revenue as opposed to the costs of implementation will result in a high return-on-investment. A major factor in this decision is the creation of personal relationships and strategic alliances with business consumers. These strategic alliances will create a cooperative agreement between Best Buy and business clients (Lamb, Hair, McDaniel...
Words: 1460 - Pages: 6
...Business and Law Unit 3 &9 Assignment 5 What is the purpose of promotion? The purpose of promotion is to appeal your product or service as a business to the wider public so that potential customers are aware and also this can help your business to gain more sales and revenue, promotion can also be seen as a way of penetrating the market to gain more recognition. Promotional Mix The promotional mix has six elements and I will be moving on to describe the mix being used by two businesses, the six elements are as follow include: Advertising, direct marketing, personal selling, sales promotions, sponsorship, publicity and public relations. Advertising Advertising in the promotional mix is important because it’s a way a business can advertise their specific product or service in order for them to get recognised and try achieve sales for the specific product you’re selling. Direct Marketing Direct marketing is effective in the mix because what direct marketing is that it’s selling directly to the customer through things like over the phone telephone selling or even mail order that’s what makes it direct rather than public. Personal Selling Personal selling is where there is face to face selling and this is where after the face to face confrontation the business attempts to persuade the customer to take a free trial or purchase the product. Sales Promotions Sale promotion is a method or a marketing technique used by businesses to attract a consumer into new products...
Words: 1545 - Pages: 7
...TECHNOLOGY AND ITS ADVANTAGE TO BEST BUY COMPANY INC. Course project on; Managerial applications of information technology -IS535 Devry University, Keller graduate school of management. June 2013 Table of Contents Abstract Company Background Discussion of Business problem High Level Solution Approach Business and Technical Approach Benefits of Solving the Problem Conclusion and Recommendations References THE EMERGENCE OF TECHNOLOGY AND ITS ADVANTAGE TO BEST BUY COMPANY INC Abstract Many companies have been struggling recently due to the shift and the constant increase of online marketing and sales. The internet has created an entire new market. This has posed serious problems to Best Buy company Inc., as it profit and revenue seems to be on the down turn .In 2013 fiscal second quarter, Domestic comparable stores sales saw a 1.6 percent decline which is...
Words: 2940 - Pages: 12
...Business and Law Unit 3 &9 Assignment 5 What is the purpose of promotion? The purpose of promotion is to appeal your product or service as a business to the wider public so that potential customers are aware and also this can help your business to gain more sales and revenue, promotion can also be seen as a way of penetrating the market to gain more recognition. Promotional Mix The promotional mix has six elements and I will be moving on to describe the mix being used by two businesses, the six elements are as follow include: Advertising, direct marketing, personal selling, sales promotions, sponsorship, publicity and public relations. Advertising Advertising in the promotional mix is important because it’s a way a business can advertise their specific product or service in order for them to get recognised and try achieve sales for the specific product you’re selling. Direct Marketing Direct marketing is effective in the mix because what direct marketing is that it’s selling directly to the customer through things like over the phone telephone selling or even mail order that’s what makes it direct rather than public. Personal Selling Personal selling is where there is face to face selling and this is where after the face to face confrontation the business attempts to persuade the customer to take a free trial or purchase the product. Sales Promotions Sale promotion is a method or a marketing technique used by businesses to attract a consumer into new products...
Words: 1545 - Pages: 7
...Promotional and Advertising Strategies By Aveon Sims Strayer University BUS 508 Contemporary Business Professor Jean Fonkoua August 31, 2014 Promotional and Advertising Strategies Promotion and marketing are among the most essential market mix features or elements. Market mix involves different strategies commonly known as the 4P’s: product, price, place and promotion. The key motive of promotion is to increase clients’ awareness of a brand or a project increase brand loyalty and generating sales. Promotional mix is composed of diverse elements such as personal selling, sales promotion, advertising, publicity and direct marketing. Both large and small customers understand the importance of promotional advertising strategies such as turning a new product to become a household name or established products into to top priority of the customer. Small and large companies benefit through applying different strategies of promotion and attracting more customers. A television set has become a necessity in the modern life with all the families searching for the best brand that is easier to operate and has more applications. Different organizations have ventured into the manufacturing and assembling of television set to enjoy the advantages (Scissors & Roger 2002). The paper will focus on advertising and promotional strategies applied by different companies that concentrate with manufacturing and assembling television sets. Samsung and Sony have emerged as the two most successful...
Words: 1999 - Pages: 8
...activity. Marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products to the public. Marketing has impacted my life dramatically because I use a lot the four P’s at work and my personal life. The four “P’s” are Product, Price, Place and Promotion. Society can exist without Marketing, but Marketing cannot exist without Society. Marketing is the management process of anticipating, identifying and satisfying customers’ requirements. There are various marketing tools like advertising, branding, direct marketing, sales promotion, publicity and public relations. These tools help companies make more and larger profit, and satisfy all customers. In this paper I am going to discuss how the Four “P’s” have impacted and changed my life. Product in the marketing mix refers to the item actually being sold. The product must deliver a minimum level of performance; otherwise even the best work on the other elements of the marketing mix won't do any good. I learned that a product should be in good conditions and it should be the best product offered for customers to buy it. For the business, the product should have a variety of colors, sizes, styles, etc. If the business wants to sell a large quantity and make a moderate profit, they should add or change something to the product. The more variety the product has the easier they will sell it because there is plenty taste for every single customer...
Words: 1540 - Pages: 7
...The Influence of Sale Promotion Factors on Purchase Decisions: A Case Study of Portable PCs in Thailand Rangsan Nochai 1 and Titida Nochai 2 1 Administration and Management College, King Mongkut’s Institute of Technology Ladkrabang, Ladkrabang, Bangkok 10520, Thailand, knrangsa@kmitl.ac.th 2 Department of Business Data Analysis, Faculty of Science and Technology, Assumption University, Hua Mak Campus, Bangkok, 10240, Thailand, titida@scitech.au.edu Abstract. The aim of this research is to investigate the sale promotion factors that impact on consumers’ purchasing decision on Portable PCs or notebooks in Thailand. This study was designed to use the survey research method and the convenience sampling technique was used in collecting the sample data. Questionnaires were distributed to qualified respondents in Commart Thailand 2011 Event at Queen Sirikit Convention Center on 17th – 20th March 2011. A total of 191 respondents were participated in this study. The data were analyzed and summarized with SPSS software and binary logistic regression analysis was used to examine which sale promotion factors that impact on consumers’ purchasing decision of Portable PC Acer and Compaq & HP. The results of this research is indicated that the sale promotion factors “Offer member card for discount” , “Extend warranty period” , “Bundled with scanner” , “Billboard, radio, leaflet, and magazine”, and “Able to pay by installments” are the important factors that impact on consumers’ purchasing...
Words: 3120 - Pages: 13
...Introduction: This report will explain to the management of SPSL about the best promotional tool that they need to use to increase awareness and market share in Manchester based on the case study. Benefits of employing a sales force: The various types of promotional tools that are used by business organisations like SPSL are: advertising, public relations, trade event, direct marketing, sales promotion and personal selling. Advertising: Advertising is the process through which a company draws attention of the members of public about its products and services by communicating it to them through advertisements which are communicated through various sources of medium like TV, Radio, news paper and leaflets. The main disadvantage of advertising is it involves high costs (Bertrand et al, 2010). Public Relation: Public relation is the process through which a company communicates the positive messages about itself and its services through press releases and events that are conducted by the company. The main disadvantages of public relation are that designing and implementing a public relation campaign is a complex process and the success of the process is hard to measure (Karimi, 2013). Trade Events: Trade events are processes through which a company displays its products and services to the members of the public to create awareness through trade fairs to create awareness and increase its market share. The main disadvantage of conducting trade events for a company is that they...
Words: 3101 - Pages: 13
...METHODOLOGY MINI THESIS “INFLUENCE OF MIDNIGHT SALE TOWARDS WOMAN AT JAKARTA” By : Annysa Yuliaty 014201100130 IB 2 CHAPTER 1 INTRODUCTION 1.1 Introduction Midnight is the middle of the night, specifically 12 o'clock at night. Intense darkness or gloom. A period of darkness and gloom. In the daily cycle of time, midnight represents the deepest point of negativity, when ghosts, demons, and all uncanny beings are most active. It is prescribed for many magic rituals and divinations. In modern times it is mathematically defined, so one is told that such-and-such will happen ‘when the clock strikes twelve’; regarded thus, it derives much of its significance from its ambiguous status—does it belong to the day that has just ended or to that which is beginning? However, in earlier centuries the term was more loosely applied, to a period rather than a point of time; it is not clear how long this was considered to be, but all supernatural evil forces were supposed to vanish when the cocks first crowed. Confusingly, midnight is also a time for certain celebratory rites, such as first footing and seeing the New Year in. This is because by modern reckoning a day begins at midnight (not at sunset, as in ancient cultures), so the day which inaugurates a new cycle must be launched with joyful and luck-bringing rituals at the earliest opportunity. Midnight sale is executed in order to stimulate consumers to buy the old product. According Taftayani (2011) the purpose...
Words: 5088 - Pages: 21
...increasing sales to current customers, making sales presentations, demonstrating products, quoting price and sales terms, and writing orders. Indirect Selling- the promotion of the company goodwill is an activity that will help generate sales. Non-selling Task- are those that the company may require to improve the overall management of the firm and the performance of salesperson. Order Getters- are salespersons whose jobs are to increase the firm’s sales. Order Takers- are those that serve the purchase orders of current customers. Support Personnel- are those that facilitate the selling function by locating prospects, educating customers, building goodwill, and providing after sales service. Prospecting- is the stage in the personal selling process where a search for and qualification of potential customers is made. Prospects- are gathered from leads in the target market that are qualified to be prospects. Pre-approach- this stage consists of the time and effort spent in determining which approach will best suit a prospect. Approach- refers to that stage in the selling process for the salesperson makes contact with the prospects. Presentation- this stage calls for actually presenting the product to the customer with the objective of convincing him to buy. Meeting Objections- objections come naturally from prospects. To some, this is a form of a psychological defense mechanism. Close- this stage in the selling process where the salesperson asks the prospects to buy the product...
Words: 1465 - Pages: 6
...sell the product through different promotional strategies. This could be through advertising or door to door sales, whatever the company feels will help sell their product. Pet Buddy is in this exact situation now as they are in the introduction phase. They are trying to get off the ground anyway they can, and in order to do so, they must get out and use professional selling. In business they usually say, “Nothing happens until someone sells something”, this could not be any truer ("Professional Selling", n.d.). The company cannot continue to pay their payroll and spend on research and development if the product is not selling. The company just needs to decide how they will sell their product. Different Promotional Strategies The Pet Buddy Company has decided to go through a few different promotional selling strategies in order to get their feet off the ground. They will use minimal advertising at first because they will need the funds in order to advertise as advertising can be fairly expensive. This is why it is important to find the right person to get cheaper advertising through newspapers and flyers, but get the “bang for their buck” they are looking for as well. They will use also use digital marketing and the same applies to digital marketing as does it to advertising. The real selling happens in the other strategies including; sales promotions, direct marketing, event marketing, and outdoor marketing. Salespeople The main difference with these...
Words: 3061 - Pages: 13
...place ensures that marketing objectives are achieved cost effectively. Advertising, publicity, and sales promotion are activities designed to promote and persuasively influence people to buy a company’s product or service. Promotional strategy should be devised in a manner that is reflective of promotional objectives and are measurable. Careful evaluation of goals, cost of promotion compared to benefits, and what promotions are working or not working should be considered. When deciding what form of advertising is best to promote a product, an assessment should be made of advantages and disadvantages of each method to ensure promotion and cost effectiveness. Dooples promotion budget allows for the focus on multiple mediums for advertising as part of the promotional strategy best suited for promotion and cost effectiveness. The use of a sales promotion schedule by Dooples is essential to increase sales and brand awareness for Company. Through strategically planned sales and incentives, consumers will be enticed to try the product offered and ensure current customers remain loyal to the brand. Promotional activities offered such as discount coupons to potential park visitors and others in the target market is important to incorporate into the sales promotion schedule. Having a sales promotional calendar to reference allows for management to properly measure previous sales promotions effectiveness and plan accordingly for expected future schedules...
Words: 330 - Pages: 2
...Engagement: The Heart of the Retail Store Strategy 5: Harnessing the Latest In-Store Technologies Conclusion: Merging Channels to Delight Customers and Deliver Profits 3 5 6 8 10 13 15 17 2 © 2011 Retail TouchPoints Cautious Optimism Buoys Consumerism Although consumer spending continues to have its ups and downs since the height of the recent recession, retailers can be cautiously optimistic that retail spending will not take another swift fall. In part, shoppers have what some industry experts refer to as “frugality fatigue” — they are simply tired of not spending. That said, they are not likely to return to frivolous spending. Today’s shoppers are much more conscious of where every penny is going; they are looking for deals and sales on the products they desire. With the growth of mobile technology and the ability to find information on products and pricing in real time, consumers are better educated and are not willing to settle, or make as many impulse purchases. Recent BIGresearch data shows that consumers are more focused on “needs” than “wants” and have become more practical when making purchase decisions (see chart). Practicality in Purchasing In the last 6 months, have you made any of the following changes? Adults 18+ 60% 50% 40% 30% 20% Upward Trend Continues 48.8% 57.9% 42.9% 51.5% 40.9% 49.5% 36.7% 44.8% 42.2% 50.7% 47.4% 56.9% 44.8% 54.9% 10% May ‘06 May ‘07 May ‘08 May ‘09 May ‘10 April ‘11 May 11’ I have...
Words: 3885 - Pages: 16
