Sales promotion Sales promotion is that kind of marketing activity which provides an extra incentives or value to other promotional activity. There are two types of sales promotion Consumer oriented sales promotion -: this is generally done to promote products and services to the ultimate users like giving coupons, sample of the product, premium, discount, rebate, etc. This type of stimulates ultimate
Price actually have an influence on the customers’ positioning of brands and affects financial performance. It plays a dominant role in positioning strategy and pricing decisions. Pricing objectives are to make sure that a company makes profit and survive in the market. In certain cases, price can become measure of the product quality. Luxury products tend to link to a higher price.
Boosts customer service is important for supply chain management to impacts the customer service by making sure the right product assortment and quantity are delivered in a timely fashion. Additionally, those products must be available in the location that customers expect. Besides that, improves financial position will increases profit leverage. Firm value supply chain management because it helps control and reduce supply chain costs. This can result in dramatic increases in firm profits.
Promotion Generally, promotion is communicating with the public in an attempt to create awareness and persuade them toward buying products and/or services. The word promotion is also used specifically to refer to a particular activity that is intended to promote the business, product or service. Promotion means a method is used for getting people to create awareness among people about products or services being offered by the company. Advertising, public relations, point-of-sale displays, and word-of-mouth promotion are all traditional ways for promotion. Promotion is the method for providing the link of information between the seller and prospects of the products or services..
The proper means of communication enable the companies to enhance their sales level thereby increasing the profit margin as well. The mass media is primarily employed by the companies in order to reach a mass audience thereby making the process of marketing more
It could be stated that nations can develop specialization in manufacturing certain products for which they can enjoy a competitive advantage. This is a way to yield profits from trade as it would lead to cheaper rates for consumers, considerable choice related to goods, huge markets related to export for domestic producers, higher contention, and economies of scale by developing specialization in a single sector. Hence, this could be regarded as a main advantage related to economic globalization. Considerable labor movement Escalation in migration of labor from different countries also serves as a benefit to employees as well as recipient nations together. When there is more unemployment in the country, it increases the chance that employees would find work in some other country.
Therefore, their productive capacity will increase as they are able to produce more goods and services. The second importance is more cash in circular flow. As firms buy more capital goods, they inject more cash into the circular flow. Other than that, positive net investment spurs economic growth. As firms invest more in capital goods, gross private domestic investment increases, GDP
Advertisement is an important factor for the development of economy of country. Especially in U.S.A where advertisement change economy itself, culture, social and political system. The stimulation for the demand of products and services helps the economy grow stronger and stronger. New inventions become known much faster and can establish their spot in the sales figures of the economy. If there are more people buying these products the overall costs will drop and the product will become cheaper for the customer which raises his willingness to buy even more.
In the contemporary society, there are an increasing number of people involved in the globalisation. I choose the topic of international trade. And in the following paragraphs, I am going to introduce what is international trade, other possible benefits of trading globally and the bottom line. (What Is International Trade) Thanks to the international trade that allows us to expand the market for goods and services. And also, as a result of international trade, the market contains greater competition with more competitive price and cheaper products.
Advantages Access to market Availability of larger markets means that firms may experience an increased rate in the demand for their product.as well and benefit from economies of scale which leads to a reduction in the average production cost. Availability of resources Globalisation enables worldwide access to sources of cheap raw materials and this enables firms to be cost competitive their own markets and in overseas markets. Seeking out the cheapest material from around the world is called global sourcing because of cost reductions and increased revenue globalisation can generate increased profits for shareholders. Revenue