Promotion is defined by Merriam Webster as “the furtherance of the acceptance and sale of merchandise through advertising, publicity, or discounting”.
Consumer Buying Behaviour is defined as “the result of the attitudes, preferences, intentions and decisions made by the consumer s in a marketplace before buying a product”. There are four types of consumer buying behaviour. They are: complex buying behaviour, variety seeking buying behaviour, Promotional Activities, makes consumers communicate with producers, such as media advertising, direct mail, personal selling, sales promotion, business promotion, trade promotion, public relations, packaging, store displays, website design, and direct personnel.
The promotional strategy has become an important part of the business organization; because the success of the business organization basically depends on the different types of sales promotion schemes in order to attract the customers. A consumer is someone who enjoys the benefits deliver the product. Consumer Buying Behaviour is the behaviour of the consumer at the time of purchasing of Goods and Services. Sales Promotions are used for the increase of sales. In this research, we discussed the impact of promotional
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This research study will analyse various forms of promotions and how those promotion methods affect consumers and their behaviours. For this research we have identified four sales promotion activities or strategies
There are four major elements that make up the marketing mix: product, price, place, and promotion. A product can be described as everything that makes up a good, service, or idea, including product design, features, colour, packaging, warranty and service levels (Kerin et al., 2015). A price refers to the amount of money that a product will sell for. The place consists of the channels where a product is distributed, as well as the merchandising used to sell the product. And finally, promotion includes all of the ways in which consumers are made aware of a product, such as advertising, public relations, sales promotion, direct response, event marketing and sponsorship, and personal selling (Kerin et al., 2015).
The idea evolved into the current system of 4P’s of marketing, which include product, price, place, and promotion. The product can be a good or service and is described as something that fills the consumer’s needs or wants. Price is the amount a consumer is willing to pay for that product or service. Place indicates the access a customer has to that product or service. Promotion relates a message strategy or communication to the target audience.
CASE STUDY: You are the marketing manager for a chain of home-ware stores in Brisbane called Houzit. The marketing plan for the 15 Houzit stores was developed over 12 months ago and you are actively engaged in implementing the strategies to achieve the marketing objectives. Specifically, you are instigating those marketing activities that meet the marketing objectives of a 12% market share (up from 11%) and an increase in sales by 8.5% over last year’s result. No expansion stores are planned during this phase of consolidation and on average the stores achieved $24,680 per week for the year.
Ac-cording to a study regarding consumer’s responsiveness to sales promotions (Rohr et al. 2013), consumers are highly influenced by such price discounts which affect their purchase decision. The interesting or challenging fact is that customers tend to buy any spirit brand, if it is under price promotion, which means that loyalty is not that high, if the price is attractive enough. This problem was faced over the past years, and brands spend a lot of time and effort for making brands competitive enough to assert themselves against its competitors. There-fore, it is vital for the brand to be attractively represented at the point of sale, in-cluding several merchandising materials, which create high visibility. (cf.
Sales promotions are non-personal communication tools that will help simulate quicker and more frequent purchases of a company’s products. Vera Bradley uses this element to help produce a higher profit and get more consumers. For example, on time on the famous talk show, The Talk, every person in the audience received a free Vera Bradley gift cards. Other more common ways are promotional emails. A
2015 St. Andrews International School Business & Management Extended Essay [Which components of Arsenal Football Club’s promotional mix in China need to be developed in order to maximize merchandise sales?] ABSTRACT The finality of this research project is to suggest the best promotional mix strategy that Arsenal Football Club could use to maximize their merchandise sales. Throughout the essay this paper will aim to answer the question “Which components of Arsenal Football Club’s promotional mix in China need to be developed in order to maximize merchandise sales?”
Introduction Every business organization is using a marketing concept which is used as a tool to identify customer’s needs. And further try to meet them by making right decisions in line with customer’s needs. In line with meeting customer’s needs the ultimate goal of every business is to gain profit. That’s why they make use of different marketing strategies to meet not only the need of the customer but as well as the goal of the company. We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes.
Salespeople are an effective link between the company and its customers to produce customer value and company profit by representing the company to customers, representing customers to the company, and working closely with marketing. Sales promotion refers to the short- term incentive to encourage purchases or sales of a product or services; customer promotions, trade promotions, and sales force promotion. the major sales promotion tools are samples, coupons, cash refund, price packs, premium, advertising specialist, patronage rewards, point-of-purchase displays, demonstrations, contests, sweepstakes, and games. Direct marketing is a marketing channel without intermediaries. It’s an element of the promotion mix and also the fastest growing form of marketing.
Promotion is something to excel the marketing activities which
Consumer is one who consumes the goods & services product. The aim of marketing is to meet and satisfy the Consumer needs and wants. The modern marketing concept makes customers the centre stage of organisation efforts. The focus, within the marketing concepts is to reach target and largest customer’s sets ball rolling for analysing each of the conditions of the target market1. Consumer behaviour can be defined as “the decision making process and physical activity involved in acquiring, evaluating, using and disposing of goods and services”.
(David and Geoff, 2000) Consumer buying behaviour is affected by three main factors which are buying situation, personal influences and social influence level. (Weilbacher et al 2003) Advertisements do not affect the whole; but only what consumers have learnt and perceived about the product. Advertisements main task is to explain the complete idea in different way so products have a livelong impact on consumer mind. To analyze customer behavior more aggressively, firms need to understand some important aspects of consumer behavior that are associated with product so consumer buying behavior can be understood.
Literature review Advertising has become a form of communication and a great source for promoting services and products for any business in the whole market because of its broader impact. The main idea of an advertisement is to get the attention of the consumers, build up the product’s strong image in their mind and provide information to help the consumer to make a purchase decision. So, the central focus in today’s diverse global marketplace is the consumer. Companies exert a lot of effort to find out the best ingredients that should be in an effective advertising and identifying its influence on the consumer’s mind, so effective advertising should be considered as one of the most important tools that strongly affect and can change the consumer’s buying behavior. The research attempts to investigate the impact of effective advertising on the consumer’s buying behavior.
2. Introduction Defining an effective Marketing Communication Plan and Communication Mix through a well researched strategy will not only help to reach out to potential customers, but it will also help to adapt and respond to the ever changing marketing environment. This report starts by examining the various promotional tools used by marketers in the marketing of their products and services, including the advantages and disadvantages of the tools. The report goes on to examine the meaning of Integrated Marketing Communication (“IMC”) and the importance of measuring the effectiveness of the Promotional Campaign.
Well designed and executed promotion can be a very effective way to become h customer loyal and to differentiate a
Introduction At the start of this course, I had no idea what to expect. This is due to the fact that marketing is a field that offers a combination of so many different disciplines such as art, psychology, and statistics. I encounter marketing on a daily basis but have strangely enough not reflected too much about it. Nevertheless, it is a very interesting subject, which deals with promoting and selling services and products.