FUNDAMENTALS OF MARKETING

MANAGEMENT
IA-2

SUBMITTED BY
BHASKAR BALAJI – 20BCHR0223
RAKSHITH ASHISH – 20BCHR0304
SAABIR NAQUIB – 20BCHR0312
SAKSHI SHETTY – 20BCHR0314
SHIVANI MADHU – 20BCHR0326
T.KARTHIK PRASANNA – 20BCHR0347
VARUN SRIDHAR – 20BCHR0354
YESHASWINI S – 20BCHR0361

SUBMITTED TO ; SHEETAL HUKKERI

WHAT IS PROMOTION?
“What is Promotion?” Promotion is a marketing tool,
used as a strategy to communicate between the sellers
and buyers. Through this, the seller tries to influence
and convince the buyers to buy their products or
services. It assists in spreading the word about the
product or services or company to the people. The
company uses this process to improve its public image.
This technique of marketing creates an interest in the
mindset of the customers and can also retain them as a
loyal customer.

Promotion is a fundamental component of the marketing

mix, which has 4 Ps: product, price, place, and
promotion. It is also an essential element promotional
plan or mix, which includes advertising, self and sales
promotion, direct marketing publicity, trade shows,
events, etc
Types of Promotion:
Advertising-
It helps to outspread a word or awareness, promote any
newly launched service, goods or an organization. The
company uses advertising as a promotional tool as it
reaches a mass of people in a few seconds. An
advertisement is communicated through many
traditional media such as radio, television, outdoor
advertising, newspaper or social media. Other
contemporary media that supports advertisement are
social media, blogs, text messages, and websites.
Direct Promotion-
It is that kind of advertising where the company directly
communicates with its customers. This communication
is usually done through various new approaches like
email marketing, text messaging, websites, fliers, online
adverts, promotional letters, catalog distributors, etc.
Sales Promotion-
This utilizes all sorts of a marketing tool to communicate
with the customers and increase sales. However, it is for
a limited time, used to expand customers demand,
refresh market demand and enhance product availability
Self-promotion-
It is a process where the enterprises send their agents
directly to the customers to pitch for their product or
service. Here, the response for the feedback of the
customer is prompt and therefore, easy to build trust.
Public Relation-
Popularly know as PR is exercised to broadcast the
information or message between a company (NGO,
Government agency, business), an individual or a
public. A powerful PR campaign can be valuable to the
company.
Online Promotion-
This includes almost all the elements of the promotion
mix. Starting from the online promotion with pay per
click advertising. Direct marketing by sending
newsletters or emails.
Key Points of Promotion
 It is a communication tool that incorporates all the
elements used to spread awareness and convince
customers to buy good and services
 It is applicable only for short term sales
 It is one of the variables of the marketing mix
 The effect of promotion is short term
 The result or outcome of the promotion is
immediate
  It is an economic marketing tool as compared to
advertising
 It can be used for all sorts of businesses
irrespective of the size, brand of a company

METHOD OF PROMOTION USED

IN SMART CART-
We are going to be using sales promotion to sell our
shopping carts. Our goal is to use short-term campaigns
to spark interest and create demand for our shopping
cart. We plan to use various techniques to increase
customer interest and become a globally recognised
brand. Some of the techniques include –
Advertisement-
● Discounted pricing.
● Reduced-rate bundle or package.
● Joint promotion with a complementary business.
● Voucher or coupon with purchase.
● Buy one get one free deal.
● Double the points if you have a loyalty program.
● Free gift for every referral.
Run a social media contest
Social media contests are a fun, easy way of connecting
with customers and bringing in more fans/followers and
prospects for your business. Facebook contests garner
an average of 34% new customers per campaign, which
is a great way to combat the platform’s low organic
reach.
Offer a complimentary upgrade
Provide a complimentary (but perhaps temporary)
upgrade for existing customers to try it out. Add the new
service to existing clients’ packages at their legacy
pricing. Another option would be to offer free shipping of
your new product, for a limited time.
Make use of Google My Business
There are several ways one can promote their new
product or service using your Google Business Profile,
provided you have a Google My Business account. The
first is via Google My Business posts. We have decided
to promote our new product by uploading photos of it to
your Business Profile via the Photos tab of the GMB
dashboard, as well as adding it as a new item via your
Products/Services tab. If applicable, you might even
want to post some FAQs on the new product or service
in the Q&A section of your Google My Business
account.

CONTRIBUTION-

BHASKAR BALAJI – Introduction

RAKSHITH ASHISH – Types of promotion(1-3)
SAABIR NAQUIB – Types of promotion( 4-6)
SAKSHI SHETTY – Compilation of report
SHIVANI MADHU – Advertisement
T.KARTHIK PRASANNA – Run a social media contest
VARUN SRIDHAR – Offer a complimentary upgrade
YESHASWINI S – Make use of
google my business

MARKS AWARDED-