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PROMOTION STRATEGIES STUDY AT KOYAS PVT

PROMOTION STRATEGIES STUDY AT KOYAS PVT

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Published by: Nissar Tp Nisar on Apr 24, 2011
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EFFECTIVENESS OF PROMOTIONAL STRATEGIES
ADVANCED MANAGEMENT COLLEGE
 
INTRODUCTION TO PROMOTIONAL STRATEGIES
Every business aims at maximization of production or services at the least possible cost tomake profit. All business units compete with one another for capturing a good share of themarket with the intention of maximizing profit generally, profit depends on the volume of saleshowever when the member of conception increases it becomes difficult to sell the product invery large quantities. Selling has become more difficult as product like TV sets; videos etchave become more technical. General public requires more information regarding a productfrom the manufactures. Promotional activities are designed to provide such information to the public and to make all other marketing activities more effective.Businessman adopts promotion as their mode of communications to the public. Promotionalactivities are so designed as to inform,. Persuade and remind the buyers of the company'soffers one such promotional activity adopted by the company is sales promotion which prompts the sales force, dealers and consumers to buy the product.Sales promotion is an action, which increases the volume of Sales. In a broad sense, the term'Sales promotion' refers to promotion as discussed as the all the activities of personal selling, publicity, advertising and Sales promotion has been technically defined to include display,demonstration contests and trading stamps. "It applies to assorted non-recurrent and somewhat extra ordinary non-personal selling effect". "Sales promotion consists of a wide variety of  promotional tools designed to stimulate earlier and or stronger market response. They includetools for consumer promotion (e.g. Sample coupons money-refund offers, prices after  premiums contents, trading stamps, demonstrations) trade promotion (e.g. buyingallowances, free goods, merchandise allowance, co-operative advertising push money, dealer sales contests) and sales force promotion (e.g. bonus) sales promotion efforts are directed atfinal consumers and are designed to motivate, persuade and that are offered. Sales personsadopt several techniques for Sales enhancement. Creative sales promotion can be veryeffective. If the marketing manager’s responsibility to specify promotion objectives and policies.1
 
EFFECTIVENESS OF PROMOTIONAL STRATEGIES
ADVANCED MANAGEMENT COLLEGE
 
VARIOUS TYPES OF SALES PROMOTION
Direct marketing
Exhibition
Sales camp
Free products&Samples
Store Display
Premium
Trade Shows
Coupons
PERSONAL SELLING
Personal selling consists of persons to communication between the sales persons andtheir prospects. Unlike advertising, it involves personal interactions between the sources andthe destination. Advertising aims at grouping the shotgun approach, while personal sellingaims at individuals the right approach. Sales persons are in the position to tailor their messagesaccording to the unique characteristics of each prospect. Further, by observing and listening,sales persons receive immediate feedback on the extent to which their messages are gettingacross. If feedback indicates that the message is not getting across, the sales person mayquickly adjust it or the method of its presentation.Personal selling may be a very intense means of promotion. Consumers can easily leavethe room-during a TV commercial, ignore a store display. The most effective method of  promotion probably is to have sales person provided that the organization has sufficient funds.The most effective method of promotion probably is to have sales person call upon every targetconsumers, for many institutions, especially those that appeal to the mass market, this would beterribly inefficient. As a result, they employ mass marketing techniques such as advertising, personal selling is very important in industrial marketing2
 
EFFECTIVENESS OF PROMOTIONAL STRATEGIES
ADVANCED MANAGEMENT COLLEGE
 
SALES PROMOTION OBJECTIVE:
Sales promotion objectives are consistent with marketing & marketing communicationsobjectives. However, they may vary with the type of target market & points of cannel. In spiteof several objectives of sales promotion, they may be classified into two categoriesa)Fundamental Objectives:
Informing to the customers about product
Reminding about the product
To introduce new products.
To attract new customers.
To help the firm remain competitive.
To increase sales in off seasons.
To add to the stock of the dealers.
To increase sales volume.
To face competition effectively.
To keep the memory alive
To induce middlemenThe word ‘Advertising’ has its origin from a Latin word ‘Adventure’ which means toturn to. The dictionary meaning of the word is ‘to announce publicity or to give publicconcerned to a specific thing which has been announced by the advertiser publicity in order toinform and influence them with the ideas which the advertisement carries. In business worldthe terms in mainly used with reference to selling the product of the concern.The advertising, as Jones defines it is "a sort of machine made mass production methodof selling which supplements the voice and personality of the individual salesman, such asmanufacturing the machine supplements the hands of the craftsman." It is thus a process of  buying/sponsor/identified media space or time in order to promote a product or an idea. From acareful scrutiny of the above definition, the following points emerge :3

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