Textbook Notes (369,144)
Canada (162,415)
MGTA02H3 (363)
Chapter 8

Chapter 8- The 4 Ps- Promotion

8 Pages
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Department
Management (MGT)
Course Code
MGTA02H3
Professor
Bill Mc Conkey

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Description
Chapter 8 The 4 Ps Promotion1 Identify the important objectives of promotion and discuss the considerations in selecting a promotional mixPROMOTING PRODUCTS AND SERVICESPromotion any technique designed to sell a productPart of the communication mix the total message a company sends to consumers about its productPromotional techniques must communicate the uses features and benefits of productsSales promotions include various programs that add value beyond the benefits already in the productInformation and Exchange ValuesIn freemarket systems a business uses promotional methods to communicate info about itself and its products to consumers and industrial buyersPurpose is to influence purchase decisionsPromotions seek to accomplish 4 things with potential customersoMake them aware of productsoMake them knowledgeable about productsoPersuade them to like productsoPersuade them to buy productsBuyers gain a more attractive product sellers gain sales and profitsSuccessful promotions provide communication about the product and create exchanges that satisfy the customers and the organizations objectivesPromotional program can determine the success or failure of any business or productPromotional ObjectivesCommunicating InformationInfo can advise customers about the availability of a product educate them on the latest technology or announce the entry of someone running for a government officeMay be in writing newspaper verbally in person or visually televisionPositioning ProductsProduct positioning the creation of an easily identifiable image of a product in the minds of consumersTrying to appeal to a specific segment of the market rather than to the market as a wholeAdding ValueValue customers gain benefits when the promotional mix is shifted so that it communicates value added benefits in its products Ex price discounts on products1
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