Promotional tools

3x puncte

categorie: Marketing

nota: 9.98

nivel: Facultate

According to the well-known 'Four Ps' formulation of the marketing mix (product, place, promotion and price), this is clearly a matter of promotion. Since budgets are always limited, marketers usually have to decide which tools - advertising, public relations, sales promotion, or personal selling - to use, and in what proportion.
Public relations (often abbreviated to PR) is concerned w[...]
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According to the well-known 'Four Ps' formulation of the marketing mix (product, place, promotion and price), this is clearly a matter of promotion. Since budgets are always limited, marketers usually have to decide which tools - advertising, public relations, sales promotion, or personal selling - to use, and in what proportion.
Public relations (often abbreviated to PR) is concerned with maintaining, improving or protecting the image of a company or product.

The most important element of PR is publicity which (as opposed to advertising) is any mention of a company's products that is not paid for, in any (3) ........................... read, viewed or heard by a company's customers or potential customers, aimed at assisting sales. Many companies attempt to place stories or information in news media to attract attention to a product or service. Publicity can have a huge impact on public awareness that could not be achieved by advertising, or at least not without an enormous cost. A lot of research has shown that people are more likely to read and believe publicity than advertising.

Sales promotions such as free samples, coupons, price reductions. competitions, and so on, are temporary (4) ........................... designed to stimulate either earlier or stronger sales of a product. Free samples, for example, (combined with extensive advertising), may generate the initial (5) ........................ of a new product. But the majority of products available at any given time are of course in the (6) ........................ stage of the life cycle. This may last many years, until the product begins to be replaced by new ones and enters the decline stage.

During this time, marketers can try out a number of promotional strategies and tactics. Reduced price packs in supermarkets, for example, can be used to attract price-conscious brand switchers, and also to counter a promotion by a competitor. Stores also often reduce prices of specific items as loss leaders which bring customers into the shop where they will also buy other goods.
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