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MGTA02H3 (143)

Chapter 8 Study Guide

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Management (MGT)
Chris Bovaird

CHAPTER 8 Promotion: Any technique designed to sell a product. 2 general values to be gained from any promotional activity: Communicating information (To influence purchase decisions ) Creating satisfying exchanges Marketers use promotions to increase sales, communicate information, position products, add value, and control sales volume Promotional Mix: How to get the product known, Four traditional methods: Advertising - Paid, non-personal communication used to inform a broad audience about a product, Advertisements priced by number of viewers readers. Therefore: segmentation is important Personal Selling - Sales people working directly with customers. Appropriate if: complex products - many features, few buyers individual attention, ie tuperware Sales Promotion - Coupons and discounts, Help to get people to sample Publicity & Public relations: o Publicity: Information about a business that generates news coverage. (its free) o Company influenced activity designed to establish a sense of good will (cant always be controlled) Product positioning: The establishment of an easily identifiable image of a product in the minds of consumers. Push strategy: A promotional strategy in which a company aggressively pushes its product through wholesalers and retailers, which persuade customers to buy it. Pull strategy: A promotional strategy in which a company appeals directly to customers, who demand the product from retailers, which demand the product from wholesalers.
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