How promotion objectives determine which marketing methods or strategies used
Columbia Southern University
Unit VI Research Paper
Promotion is a marketing mix element that plays the function of persuading, influencing and persuading a consumer to make a decision. In the retail industry, the choice of promotional strategy that is adopted by any company is greatly determined by the type of product, its value and time of usage. Some promotional strategies aim to develop a primary demand for particular product while others aim towards creation of selective demand (Fox & Raj, 2006). These promotional strategies are used by retail stores to either hold their ...view middle of the document...
Its advantages are that they have a long life span, prestige and they are selective with high quality in reproduction. The main disadvantages are that they are not flexible though with local advertising editions of the national magazines, this issue is being solved. Other channels include use of outdoor advertising like billboards and posters or other media options like movie screens in theaters and in airlines screens and on buses and trucks.
The objectives of a promotional strategy vary from one store to the other. Some may have multiple objectives which may include: Providing information, this objective aims as providing information about a particular product or current styles (Perreault, Cannon, & McCarthy, 2010). They are usually targeted at a particular market segment. Product differentiation is also a promotional objective amongst retailers for products that are leading as they attempt to occupy a market position that appeals to their target market. Sales increase is also another promotional objective (Fox & Raj, 2006). This is done in order to create more product awareness which can lead to sales increment. Stabilization of sales is also a promotional objective used during low product demand by the use of contests and prizes such as vacations, scholarships and other forms of sales promotions.
The promotional strategies by different stores are considered effective as they accomplish the objective of the organization in the particular time that they are being used. Products go through different stages in their lifecycle which forces these companies to use promotion strategies to keep products in the market either after innovation or changes in certain features that require their market to be aware about (Perreault, Cannon, &...