The Fundamental Basis Of Marketing

The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.

A successful company knows how to efficiently publicise its operation as well as its products to customers. Promotion consists of branding, advertising, PR, corporate identity, social media outreach, sales management, special offers and exhibitions. Promotion must attract customers ' attention, be interesting, include a coherent and appropriate message and show customers a reason why they should select its product rather than anyone else in the market.

You will provide your completed assessment for all of Part One in one document with cover page (included in this assessment tool on page 2). You are required to professionally format your document including spell-check and indicating each Task answer [e.g. Task 1 (a.) then the answer, Task 1 (b.) then the answer etc.] according to this Assessment Tool Task requirement. You may lose marks if you have not spell-checked your document (as this is a professional formatting requirement, a business skill). Whenever conducting a Presentation, you must always provide copies of MS PowerPoint slides as evidence for your Trainer/Assessor. Be sure to properly reference your sources of information using the Harvard referencing system. For more information go to:1. Student Handbook - latest version 2. AIPE Connect online resources; or 3. Ask your Trainer/Assessor to provide you with this information In order to determine if you are addressing this assessment adequately in terms of competency/comprehension (prior to due date) a draft copy of your assessment should be discussed during class time in consultation with your Trainer/Assessor. For this feedback/ support from your Trainer/Assessor, you will need to bring to class your “draft copy” with any evidence of the research you have conducted to produce the assessment. AIPE accommodates students with reasonable adjustments to training and assessment. This could include variations in course delivery or assessment methodology and it

Marketing communication is mostly known as “ the process by which the marketer develops and presents an appropriate set of communication stimulus to a defined target audience with the intention of eliciting a decisive set of responses”( Yeshin, 1999). Therefore, it is the process whereby thoughts are shared and meanings conveyed in a convincing manner by an organization to its target audience for the patronage of their product and services over their competitors with the use of the promotional mix.

Having a successful marketing strategy is one of a company’s biggest challenges they face when marketing their products. A target market first needs to be identified, so that the necessary research can be completed on that market in order to identify the key factors that are part of that market which includes demographic information and all

In this paper, I have researched to find out how this grant empire has become and remain so successful. I found out that one of the reasons is because it has been able to maintain the goals and standards that its owner, Mr. Sam Walton has built it upon. Even after his death, Wal-Mart continues to expand and grow in other countries. Wal-Mart is considered one of the top ten global companies today. Mr. Walton’s main goal was to sell products at a low price so that people could live a better life. Another reason is because Wal-Mart uses certain market mix strategies such as the four P”. These strategies, price, promotion, product and place.

The purpose of this is to formulate a suitable marketing campaign for your chosen organisation. Produce a report detailing the below. As part of the introduction to the report give a brief explanation of the various elements of the marketing process (LO 1.1) Evaluate the benefits and costs of a marketing orientation for the selected organisation. (LO 1.2) Carry out a thorough organisation, industry and market environment situation analysis. For this, identify and analyse Macro environment, Micro external environment, Micro internal environment and the capabilities using a range of tools and techniques suitable for each market situation. Summarised your analysis using a SWOT Analysis. Include minimum key factors such as the different analysis models, you must carry out; - Macro environment analysis - Micro external environment

Promotion is the way in the business makes its products known to the customers, both current and potential. Promotion involves spread information about a product, product line, brand, or company. It is one of the four key aspects of the marketing mix. To generate the sales and profits, the benefits of products have to be communicated to customers. Promotion is the major component of market mix. The purpose of promotion is to reach the desired targeted consumers it try to make them act positively

The Right Target Market One of the most important marketing functions for a firm is finding

Promotional strategy can be described as the function of notifying, persuading, and influencing the decisions of a customer regarding a particular product and/or service. Notably, certain promotional strategies are geared towards creating primary demand or desire for a general product category. The most common objectives of the use of promotional strategies across organizations include creating the primary demand for a product, expanding markets, maintaining the current market position, and presenting a corporate view on a public matter. The other important aspect in the marketing mix is developing an appropriate pricing strategy for the product and/or service. The main objective a suitable pricing strategy is to ensure that the product and/or service are provided at reasonable prices while the

Once one has identified a target market, he/she will have a good idea of the best way to reach them, but most businesses use a mix of advertising, personal selling, referrals, sales promotion and public relations to promote their products or services. However, in this study, promotion was looked at alongside pricing and product attribute. Further, Kotler & Ruth (2004) opine that promotion is characterized by advertising, publicity and sales promotion. Advertising involves non-personal communication transmitted through mass media. Publicity involves free promotion through news stories in newsletters, newspapers, magazines and television. Sales promotion involves all forms of communication not found in advertising and personal selling, including direct mail, coupons, volume discounts, sampling, rebates, demonstrations, exhibits, sweepstakes, trade allowances, samples and point-of purchase displays. Relatedly, Kotler & Ruth (ibid) assert that promotion is a method used to spread the word about a product or service to customers, stakeholders and the broader public. Once one has identified a target market, he/she will have a good idea of the best way to reach them, but most businesses use a mix of advertising, personal selling, referrals, sales promotion and public relations to promote their products or services. However, in this study, promotion was looked at alongside pricing and product

Most companies today have changed their marketing techniques. Instead of focusing on all potential buyers out in the market, which is called “mass marketing,” they began to implement the use of “target marketing,” which is where companies focus on specific group of consumers that have the highest potential for the company to make a profit. In target marketing, there are four steps that the company must undertake, to design a consumer driven marketing technique. The first two steps involve the company the selecting potential consumers to target on. The first step is called “market segmentation,” and the second step is called “market targeting.” The last two steps involve the company deciding on how to create specific products for their

Average income earned by households owned by African Americans was $47,300 to $67,000 (Nielsen 9).

Ultimately, the goal of any promotional marketing campaign is to raise awareness about a product or increase its appeal. Promotional marketing has the advantage of being valuable to both new customers and existing customers -- it offers new customers a reason to try the product for the first time, while building loyalty in existing customers

The process of communicating the value of a product or service to customers, for the main purpose of selling that product or service is known as marketing. The science of choosing target markets through market segmentation and analysis, and understanding consumer behavior while providing superior customer value to the customers is termed as Marketing Management. It can be looked at as one of the most important of the organizational functions and a set of processes for creating, communicating and delivering the value to their customers or potential customers, and a customer relationship management that benefits the organization in a variety of ways.