MGTA01H3 Lecture Notes - Lecture 5: Sales Promotion, Personal Selling, Marketing Mix
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MGTA01H3 Full Course Notes
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Promotion def: any technique used to inform, educate and excite potential customers about a business and its product, and to induce them to buy. Customers won"t buy product if: they don"t know about it. They don"t know what it does the don"t understand it. Make the knowledgeable get them to like your product persuade them to buy. Make them knowledgeable about products persuade them to like products persuade them to purchase products. Understand the process buyers go through before and after making a purchase. The buyer decision process: def: a five stage process that most consumers go through before and after buying a good or service: problem or need recognition. Consumers become aware of their wants and needs: information search. Search for what might provide solution: evaluation of alternatives. Evaluate different products, features, price: purchase decision when purchase takes place, post- purchase evaluation. Essential if business wants to retain customers for future repeat business.
