Local Brands Vs Global Brands In International Marketing Management Essay Example
The concept of pure services and products is idealistic as nearly all products in today's market are connected to some level of service. The Traditional APS 1) Product: Phillip Kettle defines a product as anything that can be presented to the market for attention, acquisition, use, or consumption to fulfill a need or desire. Products encompass physical goods, services, individuals, locations, organizations, and ideas. Products possess various attributes such as quality, variety, design, brand, packaging, services, and warranties that can be manipulated based on market demand. 2) Price: Price represents the value required to purchase a specific quantity, weight, or other unit of a product. It is the only variable in the marketing mix that can be quickly adjusted and directly impacts 3) Place: The place mix focuses on the physical distribution of products at the right time and location. For instance, customers t
...ypically buy toiletries from nearby retail stores. Place is a critical component in the development of marketing strategy as it greatly influences customer perception of value. Distribution channels like retailers, wholesalers, merchants, brokers, and value added resellers may also be utilized to differentiate a product from its competitors. 4) Promotion: This encompasses the methods used to convey the features and benefits of products or services to target customers.
Some common methods of promoting products or services include advertising, sales promotion, direct selling, public relations, and direct marketing. Promotions are a crucial aspect of marketing programs as they aim to positively influence target customers' perceptions in order to facilitate exchanges between the marketer and the customer.
SQ.What is sales promotion? Please explain eight tools of sales promotion specifically targeted
at consumers. Answer: Sales promotion generally refers to marketing activities that provide additional value or incentives to the sales force, distributors, or end consumers, thereby stimulating immediate sales. Sales promotion can be divided into two main categories - consumer-oriented and trade-oriented strategies.
SQ.Define Environmental scanning. Please explain the Delphi technique and scanning SQ. Environmental scanning involves gathering information to identify and analyze trends and patterns that may impact an organization's operation. The Delphi technique is a method used in environmental scanning that involves collecting opinions from a panel of experts anonymously and systematically analyzing their responses. Scanning is another method used in environmental scanning where organizations continuously monitor their environment for any changes or opportunities.
Personal selling places emphasis on individualized or one-on-one sales interactions.
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