Business Promotional strategies |
The concept of promotion can further be divided into what business theorists call explicit and implicit promotion. Implicit promotion deals mostly with communication about what is in the product, the price or even the selling spot or place; including the quality of product and service. In short the message is carried or transmitted by the product Explicit promotion on the other hand is focused on communication about the product by means of advertising, sales promotion and/or publicity. In other words the message about the product or service is transmitted by means of advertising, not by the product itself. Beware of the common trap, many people that are good at implicit promotion hardly see the need for explicit promotion. Some believe that because their product or service is of a superior quality, they may not need to do a lot of advertising. This could be fatal, weigh your options before you commit to only using one approach. Usually the right combination of both is appropriate. Factors that influence marketing mix planMarketing mix has to comply with the overall business objectives. It also has implemented within the legal framework of the business' operating environment. In addition to those two, anybody doing business knows that no matter how well or bad you do, you should always be thinking of your competitors and your own competitiveness. Thus, in general the present and desired business positions are major players in any marketing mix decision. This forms the basis of the "why do we need the marketing mix plan?" question. This however is not the only role player, managers/owners business and managerial philosophies also play a bigger role. |
RELATED ARTICLES:
Using Price, Product Features and Place of sale for business promotion
As noted in our posting Business Promotional strategies , there are many cases wh
How to measure your business financial position and performance
As mentioned in the previous postings, accounting comes in two forms: Financial accounting - which is concerned with providing the overall financial picture of the business' financial position and performance. and Management Accounting - which is conc
The difference between Accounting and Business finance
So far you might have seen a lot of overlap between our Accounting and Business sections. After all, they both talk about financial statements and reporting. So where exactly is the difference between the two? Well, Accounting - deals with collecting, analyzing and communicati
Business finance - Basics
Anyone who runs a business will tell you that you can not start a business with nothing. Every business is started with money or something with a monetary equivalent. Suppose you decide to start a business to produce and sell fresh vegetables. To do this, you either hire people to hel
Business Insurance coverage
Protecting business assets should be a primary concern of every business owner. As a matter of fact, before you even open your doors to customers you should speak to an insurance agent about ways to protect your business from unforeseen business risks. These risks range from workers compensation ins
Business Operations and the Environment
Running a business effectively require managers to fully understand what they are trying achieve. In other words managers or business owners have to develop a clear vision of how the business operations should help the business attain its long-term goals. This also means identifying the role
Doing Business on the Internet
How online business has evolved In the last decade, the Internet has transformed from merely a research tool for academics to a flourishing business platform. A platform where the difference between big corporation a
Legal Business Forms
Now you are ready to start a business, you have fully or partially secured your starting capital. You have also done your market research and concluded that your business idea is viable. Now what? Now you have to register your business. There are several advantages to registering your business as le
New Business Planning
Many people starting out in business write business plans with the sole purpose of convincing financier or investor that their idea is worth investing in. Sometimes they outsource such work to outsiders with little or no input of their own. This however should never be the case. Many businesses that
Prepare your business to survive a bad economic condition
Economies all over the world are experiencing a decline, businesses are laying off employees in order to cut costs and stay profitable. Those who retain their jobs are faced with rocketing food and gas prices. When you are an owner of a small business, the challenges are even greater. Under these ci