...|Producing a Promotional Strategy | |What is a promotional strategy? | |Most of us are familiar with market research as suppliers (or information providers) try to obtain information from us (or library users) | |on what we require. Promotion is the reverse side of this. Organisations use promotion to communicate with customers about products they | |offer. Promotion is thus one half of the communication process with customers. Ideally it will work co-operatively with market research (in| |an iterative feedback loop) so that the constantly changing requirements of users are met by promotional activities that target (or even | |anticipate) these expressed needs. | | | |Such activities need to be managed. They require the allocation and expenditure of resources, whether physical (promotional products) or | |intangible (staff time or use of existing facilities). As such they cannot simply be allowed to grow organically – they require shaping and| |direction via a promotional strategy. ...
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...Professor, Department of Business Administration & Commerce Indus University, Pakistan Pharmaceutical marketing mix strategy and physician’s prescription behavior Rizwan Raheem Ahmed ABSTRACT Purpose: This research paper gives an insight about the processes used by local and MNCs pharmaceutical companies in Pakistan.The purpose of our research is to examine that what factors affect physician prescription behavior based on ethical grounds. Methodology: This research focuses on the strategies and marketing tools used by pharmaceutical companies in Pakistan, and how Physicians behave against all these marketing strategies in terms of Prescription patterns. The questionnaire survey method is used for data collection and SPSS is used for Correlation and Regression techniques for the understanding of Physician’s prescription behaviour. Findings: The data analysis figuring out the correlation of these variables with the subject of the study i.e. factors influencing the prescribing behavior of the physician. The data shows the significance level of individual independent variable as Promotional tools. According to the results of Multiple Regressions Analysis (MRA) the researchers can conclude that independent variables have significant relationship with dependent variable. Therefore other all hypotheses are accepted except on Personal Obligation. Therefore, Promotional tools (Literature, Samples, Detailing Knowledge & skills of Medical Reps, Scientific activities like RTD`s, LSP...
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...Marketing Strategies and the Difference Level of Sales and Profits Performance of the Batik SMEs in Malaysia. Mohd Zulkifli Mokhtar & Wan Nur Syahida Wan-Ismail Faculty of Management and Economics, University Malaysia Terengganu, Malaysia Correspondence: Mohd Zulkifli Mokhtar, Faculty of Management and Economics, University Malaysia Terengganu, Mengabang Telipot, 21030 Kuala Terengganu, Terengganu, Malaysia. E-mail: zulkifli@umt.edu.my Abstract In this research, the business owners of batik SMEs were analyzed on their marketing strategies. The objective is to examine if the marketing strategies of high performance batik SMEs differently from low performance batik SMEs. The high and low performance batik SMEs were categorized based on their annual sales and profits for three consecutive years. For this purposes, the questionnaires were distributed among 186 batik business owners in Malaysia. The data collected were then analyzed using Mann-Whitney U Test and Chi-Square Test. The result found that the high sales and profits performers are not only focused in local market, but they expand their sales out-of their states. For high sales performers, they are frequently advertised their businesses and using various promotional tools. Hence, efforts should be made by the low performers to find and expand their sales outside of their states, advertise their businesses more frequently and not only depends on personal network as promotional tools. Using various promotional...
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...WHAT IS MARKETING? Marketing Focuses on Exchange One popular conception of marketing is that it primarily involves sales. Other perspectives view marketing as consisting primarily of advertising or retailing activities. For some of you market research, pricing, or product planning may have come to mind. While all these activities are part of marketing, it encompasses more than just these individual elements. The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Effective marketing requires that managers recognize the interdependence of such activities as sales and promotion and how they can be combined to develop a marketing program. The AMA definition recognizes that exchange is a central concept in marketing. For exchange to occur, there must be two or more parties with something of value to one another, a desire and ability to give up that something, to the other party, and a way to communicate with each other. Advertising and promotion play an important role in the exchange process by informing consumers of an organizalion's product or service and convincing them of its ability to satisfy their needs or wants. Not all marketing transactions involve the exchange of money for a tangible product or service. Nonprofit organizations such as charities religious groups, the...
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...You might consider developing competitive strategies by establishing your product attribute dominance relative to a specific competitor, or how to creating a lifestyle image better than competitors’ related to heavy user consumer images in your category. Competitive strategies also include advertising comparison by using advertising media tactic as your competition, the development of new product, packaging, merchandising techniques, or selling techniques to counter competitive strengths. Target Market Strategies Target market strategies are referring to how you market your products or services to specific target market based on your marketing objectives that defined the customers purchase behavior you want to target. For example, you may...
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...Marketing and Promotional Products Ida Suther June 17, 2014 Marketing and Promotional Products Promotional products are a way to build brand awareness for the company. It brings awareness, can boost sales, and helps grow a company. A customer with a good promotional plan, and having clear objectives, will help to focus on target marketing and streamline marketing activities. Each business must pick the right material to target specific customers. During the summer sports months, t-shirts are a big marketing tool used to promote businesses. Baseball and soccer jerseys are an excellent way to promote a business. Sponsoring a sports team gives a positive outlook for the company, this shows they are involved in the community, and will draw people to their business. This form of advertising creates a connection with the consumers. It is a powerful tool that will leave an impression, and in today’s competitive market it is important for a business to stand out. Promotional products are great to have at trade shows. It’s an excellent way to create an introduction to the company; people who receive promotional products will remember where they got the product from. Products can range from coffee mugs, pens, any piece of merchandise that makes the customer contact information readily available. According to Sharma (2013), the merchant must be purposeful. In order to establish themselves as a thought leader, and be purposeful in their strategy, the consumer must jump...
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...communicate effectively and efficiently with their target audiences is critical to their success. Advertising and other types of promotional messages are used to sell products and services as well as to promote causes, market political candidates, and deal with societal problems such as alcohol and drug abuse. Consumers are finding it increasingly difficult to avoid the efforts of marketers, who are constantly searching for new ways to communicate with them. Most of the people involved in advertising and promotion will tell you that there is no more dynamic and fascinating a field to either practice or study. However, they will also tell you that the field is undergoing dramatic changes that are changing advertising and promotion forever. The changes are coming from all sides—clients demanding better results from their advertising and promotional dollars; lean but highly creative smaller ad agencies; sales promotion and direct-marketing firms, as well as interactive agencies, which want a larger share of the billions of dollars companies spend each year promoting their products and services; consumers who no longer respond to traditional forms of advertising; and new technologies that may reinvent the very process of advertising. As the new millennium begins, we are experiencing perhaps the most dynamic and revolutionary changes of any era in the history of marketing, as well as advertising and promotion. These changes are being driven by advances in technology and developments that have...
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...effectively and efficiently with their target audiences is critical to their success. Advertising and other types of promotional messages are used to sell products and services as well as to promote causes, market political candidates, and deal with societal problems such as alcohol and drug abuse. Consumers are finding it increasingly difficult to avoid the efforts of marketers, who are constantly searching for new ways to communicate with them. Most of the people involved in advertising and promotion will tell you that there is no more dynamic and fascinating a field to either practice or study. However, they will also tell you that the field is undergoing dramatic changes that are changing advertising and promotion forever. The changes are coming from all sides—clients demanding better results from their advertising and promotional dollars; lean but highly creative smaller ad agencies; sales promotion and direct-marketing firms, as well as interactive agencies, which want a larger share of the billions of dollars companies spend each year promoting their products and services; consumers who no longer respond to traditional forms of advertising; and new technologies that may reinvent the very process of advertising. As the new millennium begins, we are experiencing perhaps the most dynamic and revolutionary changes of any era in the history of marketing, as well as advertising and promotion. These changes are being driven by advances in technology and developments...
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...Promotion → Producer Customer ← Market research In some forms of promotion and service delivery, communication in both directions can be achieved simultaneously, and since two-way communication is the only real form of communication, promotion which is associated with two-way communication is to be encouraged. Examples of such two-way promotion emerge largely from the contexts of services marketing and relationship marketing. In services marketing, for example, promotion can be part of the service delivery. Exchanges between the service agent and the customer can elicit information about customer requirements, and also permit the service agent to explain the organisation’s products and how these might meet the customer’s needs. Similar kinds of exchanges can occur in the relationship marketing interest in business-to-business marketing transactions where the sales person is a significant agent in the establishment of relationships between customer and the organisation. A more formularised approach, the use of loyalty and reward cards, in, say, supermarkets, offers another approach which embeds both promotional and market research activities. Mercer (1996), in emphasising that communication must be a two-way process, says (p. 309): The ideal form of promotion is the conversation which takes places between the expert sales professional and his or her customer. It is interactive and conversation is specific to the needs of both. Other forms of promotion, which deal in...
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...Qualification | Unit number and title | Pearson BTEC Level 5 HND Diploma in Business(QCF) | UNIT 18:Advertising and Promotion in Business Level 4 | Student name and ID number | Assessor name | | Tatah Amenonyoh | Date issued | Completion date | Submitted on | 18th September 2015 | 13th December 2015 by 5.00pm | | Internal Verifier | Dr George Panagiotou | Assignment title | Westfield-Stratford City | Instructions | * An electronic copy of your assessment must be fully uploaded by the deadline date and time. * You must submit one single PDF or MS Office Word document. Any relevant images or screenshots must be included within the same MS Office Word or PDF document. * The last version you upload will be the one that is marked. Your paper will be marked if you have indicated this as your final submission. * Review the mitigating circumstances policy for information relating to extensions. * The file size must not exceed 20MB. * Answer the criteria in order, clearly indicating the pass criteria number. * Ensure that all work has been proof-read and checked prior to submission. * Ensure that the layout of your documents are in a professional format with font style Arial, font size 12 for the text, font 14 for sub heading and font 16 for main heading, line spacing 1.5 and justified. * Use the Harvard referencing system; otherwise it will be considered as plagiarised work. * Ensure that you back-up your work regularly and apply version control...
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...Georgia Good Business Studies Assessment task 2 Extended response Assess why a mix of promotional strategies is important in the marketing of goods and services. Executive Summary Marketing involves a total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers. Promotion is the methods practiced by a business to enlighten, persuade and remind a target market about its products. The importance of promotional strategies is determined by the ability of a businesses marketing mix such as ‘Jenny Craig’ ‘Myer’ ‘Coles’ or ‘David Jones’ to promote their goods and services through a range of strategies such as relationship marketing, personal selling, public relations, publicity, and sales promotion and how they all work together effectively to successfully market its goods and services. Personal Selling Personal selling is where businesses use people as the ‘sales force’ to sell products through face-to-face time with the customer. The sellers, or sales-representatives, promote the product through their attitude, appearance and specialist product knowledge. They aim to inform and encourage the customer to buy, or at least trial the product. At Myer stores across Australia, they have a team of employees in the cosmetic, perfume and personal care sectors named the ‘Visual Merchandising Team’. Their role is to interact with customers while providing information, assisted service, expert advice...
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...market D. Positioning statement II. Product strategies…………………………………………………4 E. Product classification F. Product attributes G. Brand name H. Product support services I. Product’s stage in the product life cycle III. Price strategies……………………………………………………6 J. Price in different outlets (Table) K. Price compared to similar products (Table) L. Type of market IV. Place………….………………………………….………………..7 M. Channel length and type V. Promotional mix………………………………………………….8 N. Product Promotion O. Promotional tools P. Message and target market VI. Weakness…………………………………………………………10 VII. Suggested solution………………………………………………..11 VIII. References…………………………………………….…………..13 Introduction: A-Product category: The product we chose for this research is from the food category; it is a convenience good that can be found in almost all retail outlets across Lebanon. To be more specific it is from the sauces and topping section. “Heinz Ketchup” an American brand of ketchup, originally produced by the H. J. Heinz in the United States, imported and distributed in Lebanon by “KFF Food & Beverage Sal”. This product is mainly linked to fast food and western cuisine. B-Retail outlets visited: In order to spot the weakness of this product we conducted a research to evaluate its “four marketing P’s”, product, price, place, and promotion strategies. Later on we also compared it to similar competitive...
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...Abstract In this paper, one will get the knowledge of what type of information should be included in the final decisions of starting a product or service. Knowing what marketing means to a certain product or service, is the first step in completing a Marketing Plan. Knowing what type of market, that one would want the product or service to attract attention from, is up to the producer of that service or product. Having done research prior to the production of the service or product is the best thing that can be done. After all factors have been thought about, the price and distribution channels can help make the product or service a success. With the information that is available within this paper, one will be able to determine what decisions would be best for a different product or service. Marketing is the purchasing and selling of a service or product to either, consumers or businesses. But that it has much more to do with the environment in which this product or service is being provided. Marketing of any product or service can help or hurt the promotion of the product and the business. The service that was chosen to do further research was Home Healthcare Services. The Home Healthcare Service that was chosen is New Horizons Home Healthcare in Rock Hill, SC. This is a very well-respected company that delivers services in: Assisted Living, Micro-Community, and Alzheimer's Care. This home healthcare service is located within minutes of a well-known hospital. New Horizon's...
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...subjects that entails money to spend as well as daily allowances. These are the reasons why they have a limited number of enrollees or even experiencing the ups and downs in terms of enrollment. The Department of College of Business and Commerce in Arellano University Pasay branch and even in the other branches are also faced this kind of dilemma. Now, the department head, staff and the faculty enhance a strategies based on the concerns of the student and even the number address its problems increase of new enrollees. In this way, the Department will promote their courses in order to capture and persuade more enrollees to enroll to in AU-Pasay Campus. The enhancement of existing promotional strategies would be a basic of increasing number of enrollees that would realize the profit in the year to come. The company image and reputation of the school will remain and be considered as a factor to sustain the financial stability of the institution. Statement of the Problem The researchers choose this topic to determine and make recommendation to enhance the Promotional Strategies of Business and Technology-Business and Commerce of Arellano University, Pasay. Especially, this study aims to answer the following Sub-problem: 1. How...
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...Abstract Sales promotion has been in constantly growth since the 1960’s and have today become one of the key factors in the promotional mix. The methods used have become more sophisticated and an increasing number of companies are realizing the importance of a well structured promotion strategy. The purpose of this thesis is to provide a better understanding on how sales promotion is used in B2B setting. In order to reach this purpose, research questions focusing on the objectives of sales promotion, as well as which sales promotion tools that were used were stated. Based on these research questions, a review of the relevant literature was conducted, resulting in a conceptual framework, which was used to guide this study's data collection. A qualitative, case study approach was used, using interviewing at an industrial company in Sweden as the primary data collection tool. The findings indicate that, although the individual objectives of the tools can be different they can still be used overall to lead to the same overall goal. It was also found that the focus is not always on using sales promotion tools to generate sales, but to improve relationships. As for the tools used, it was found that there are commonly used sales promotional tools in B2B settings. More specifically, gift giving can be deemed inappropriate in certain contexts and should be used carefully. Table of Contents TABLE OF CONTENTS 1. INTRODUCTION .........................................................
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