Advertising is part of Marketing. In order to stimulate customer response always the advertisement is a good opportunity for the company to promote. The more people see the product/service, the more they feel like buying it. So many companies rely on advertising these days to boost sales of their products or services, to build a connection with their audience and to create competition with their rival firms. There are different types to gain customer’s awareness like advertising, and promotion, Also there are different places that advertisements can be positioned, using the metro, trams, buses, restaurants and so on The advertising objectives should support main company’s goal and should be discussed with company-client in order to avoid misunderstanding. The advertising roles are based on company’s marketing strategy, like; Increase sales, Increase brand awareness and Supporting other market efforts. Advertising gives companies and businesses the opportunity to build up a brand and Continue reading
Marketing Management
Marketing management combines the fields of marketing and management. Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas – markets, products, prices, places, promotion, and people. Management is getting things done through other people. Managers engage in five key activities – planning, organizing, staffing, directing, and controlling. Marketing management implies the integration of these concepts.
Country of Origin Effect in International Marketing
The Country of Origin Effect is the influence that the manufacturer country has on the positive or negative consumer judgment. Studies have shown that when a customer becomes aware of the country of origin of a product his/her image about the product is influenced either positively or negatively according to his perceptions. Consumers tend to have a stereotype about product and countries that have been formed by experience, hearsay, myth. These stereotypes are generally broad and vague according to which they judge a specific country or a specific product to be the best: French Perfumes, Italian Leather, Chinese Silk and Japanese Technology are all examples of such stereotypes. Therefore the country, the type of product, and the image of the company all its brand play a crucial rule in deciding whether the country of origin will engender a positive or a negative reaction. Country Image: Precursors to Country of Origin Continue reading
Sensory Branding
In today’s highly competitive global environment, companies, on a constant basis, have to find new ways to position their brands in consumers’ mind. No amount of advertising and sales promotions can do any good if a brand does not confer a distinctive benefit. Brands need to be geared up to provide a complete package of functional, sensory and emotional experiences. Touching and triggering all the five senses of the consumers–touch, smell, sight, sound, and taste — creates a compelling brand experience. The more multi-sensory appeal that a brand has, the higher is the number of sensory triggers activated and resultantly, higher the bonding between the brand and the consumer. Sensory branding attempts to foster a lasting emotional connect between the brand and the consumer, using a deliberate design and deployment of interaction with the senses. In brand communication, all the five senses need to be evoked to create optimum impact Continue reading
Definitions of Key Terms in Integrated Marketing Communications
Integrated means that combine or coordinate separate elements so as to provide a harmonious, interrelated whole. In other word, when all marketing communication tool work together, it will be more effective than work as a single component. It will create more competitive advantages, boost sales and profit, while saving cost, time and stress if this concept is incorporated in marketing strategy. So, if the marketing communication tools are combined as a group it will produce more powerful outcome in the process of delivering customer superior value. Marketing The root word for marketing is market. Market is defined as a place for consumer and sellers to carry out transaction that required cash as an exchange medium for obtaining a product or service. Marketing can be defined in two perspectives which include old view or new view of marketing. From the new view of marketing, it is all about the creation of Continue reading
Managing the Sales Force Effectively
The face of any organization is the sales force. Companies spend a considerable amount of time and money on managing the sales force rather than on any other promotional activity. However, sales force is expensive and companies are looking forward to managing them in an efficient and effective manner. The management of sales force consists of following: Compensating the Sales Force A compensation plan should constantly stimulate the salesman to put in their best efforts, quantitatively and qualitatively, to achieve the desired and planned levels of sales. Compensation must be fair to the management and the salesmen. It should enthuse efficient salesmen and help remove inefficient ones. It should be simple, flexible, easy to administrate, economic and capable of achieving the personal selling objectives of the firm. Periodic review and vision of the compensation plan is essential. Motivating the Sales Force It is the crunch of sales force management. The Continue reading
Pricing Objectives and Strategies
Price may be defined as the value of product attributes expressed in monetary terms which a consumer pays or is expected to pay in exchange and anticipated of the expected or offered utility. It helps to establish mutually advantageous economic relationship and facilitates the transfer of ownership of goods and services from the company to buyers. The managerial tasks involved in product pricing include establishing the pricing objectives, identifying the price governing factors, ascertaining their relevance and relative importance, determining product value in monetary terms and formulation of price policies and strategies. Thus, pricing plays a far greater role in the marketing-mix of a company and significantly contributes to the effectiveness and success of the marketing strategy and success of the firm. Pricing Objectives A business firm will have a number of pricing objectives. Some of the them are primary, some of them are secondary, some of them are Continue reading