MGTA02H3 Chapter Notes - Chapter 5: Personal Selling, Sales Promotion, Market Segmentation
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MGTA02H3 Full Course Notes
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Mgta02 chapter 5 promotion & place: making products known. Promotion: any technique used to inform, educate and excite potential customers about a business and its products, and to induce them to buy. Businesses use a variety of techniques to inform, educate, and excite potential customers about itself and its products. Promotion seek to accomplish four things with potential customers: make them aware of the product, make them knowledgeable about products, persuade them to like the products, persuade them to purchase the product. Marketers have understood the process that buyers go through a structured 5 stage decision making process: problem/ need recognition, information search, evaluation of alternatives, purchase decision, post-purchase decision. The buyer decision process: a five stage process that most consumers go through before and after buying a good/service: useful to understand how, in general, most consumers decide what to buy. This isn"t necessarily the case that all consumers go through all these stages systematically.
