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Read about Promotion Strategies here
Marketing Mix Exercise Three: Promotion Strategies
A great product, at a great price, but we have to tell people about it, don’t we?
1. List the different promotional mix elements LM Ltd can use to help them in selling their personal computers.The company can use any number of the promotional mix elements. These may include:
• Advertising – On TV, Radio, Magazines.
• Sales promotion – Special deals over a period of time.
• Public Relations – Releasing company press releases to the press to obtain favourable publicity for free.
• Internet advertising – Placing ads on major search engines, pop up ads on computer sites,2. Should LM Ltd use a push or pull strategy when deciding on their promotional strategy?
The answer to this question depends much on what distribution strategy the company will use. If the company only chooses a direct distribution strategy then a pull strategy should be used, that is, advertising should be aimed at the potential consumers to create demand to pull the product through the distribution channel. However, if the company chooses to use both a direct and indirect strategy then both a pull and push strategy should be used. Advertising should also be aimed at retailers to encourage them to stock the product.
3. Looking at the product lifecycle, will LM Ltd promotional strategy change as its product moves through the PLC?The simple answer is yes, well we would hope so! Lets look:
- Introduction – Informative – Tell consumers about the company and the product.
- Growth – Persuasive – The market is competitive; the company will have to encourage consumers to purchase over their competitors.
- Maturity/Decline – Reminder - The company should remind consumers of particular product lines.
4. Using the AIDA model how can LM Ltd obtain Attention, Interest, Desire Action?
AIDA
Attention:
• Use internet and moving images to grab attention.
• Use of celebrities to sell product.Interest:
• Clear competitive pricing strategy to hold interest.
Desire:
• Demonstration to show speed and graphics of machine.
Action
• Final purchase. Remind consumer of after sales service to reinforce the pleasure and confidence of purchase.
Studying Management? Visit www.learnmanagement2.com
Further reading:
Principles of Marketing by Philip Kotler
Principles of Marketing by Frances Brassington
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