Sample Essay On Marketing Assignment
Sales promotion refers to the marketing tactics used by a firm to increase its sales by attracting customers through discounts, offers and other promotion methods. Sales promotion helps organizations create better levels of growth using different methods of marketing and promotion which helps create a short period of hype for the product (Armstrong & Kotler, 2008). Sales promotions are necessary to be visible in a crowd of multiple products that are available to the consumer as substitutes or alternatives. The following are the best sales promotion methods that can be used for each of the brands and their products:
a) Secret deodorant: 25% extra can be an ideal strategy for a deodorant. Marketing is an essential function of all business as well as organizations. There are several internal and external factors that can affect a company’s marketing strategies. The product is also an essential factor that greatly impacts the decisions of the organization with regard to forming an appropriate sales promotion strategy (Armstrong & Kotler, 2008). This offer can help the firm ensure an increase in its sales to a significant extent in the short run.
b) Quaker Chewy Granola bars: Buy one get one free can be a good sales promotion strategy for chewy granola bars. It is an attractive strategy for consumers. After identifying the problem in any strategy or aspects of marketing or branding strategies, the advertising and promotional strategies are developed accordingly. This offer does help ensure effective attraction of consumers and lure them to trying the product once. For any company, to be successful it is important to identify the goals and objectives of the company and based on that strategies are formulated. This can be attained using this strategy as sales can be increased.
c) Poley mountain resort: Free holiday vouchers can be an excellent sales promotion method in case of Poley mountain resort. This can lure customers to trying the resort and opting for long term memberships and life time memberships. It is recommended that the firm use IMC plan which is an integrated approach to achieve marketing goals and objectives using different promotional methods. It is extremely essential that the organization focuses on creating a long term strategy using short term sales promotion. The IMC plan communicate multiple advertising channels like social media, advertising and owned assets and develop the marketing strategies as per the goals or objectives set by the company in an effective manner (Armstrong & Kotler, 2008).
d) Valvoline motor oil: Valvoline motor oil is marketed to motorists and automobile users through targeting niche market through direct marketing and sales promotions. Free samples can help convert non users to users. The marketing objective is to increase the customer base or membership by spreading awareness and increasing the reach of the product using samples. Effective marketing is important for companies to gain competitive advantages through branding. Direct marketing is effective in helping the company reach its niche market segment (Armstrong & Kotler, 2008). But the usage of sales promotion can help improve this effectiveness by ensuring improved awareness. Marketing and effective positioning are important for the firm (Armstrong & Kotler, 2008). Their marketing strategy along with direct marketing can help the brand to achieve its business objectives.
e) Gatorade: A sports drink is usually marketed to a specific target segment. Using a promotion strategy like a free gift that is useful to a sports person would be of. It is possible to ensure better attraction and remembrance among consumers thus leading to consumer loyalty to a great extent. This brings in better focus on developing a larger segment as well. The firm uses premium pricing as its services are unique and of high quality (Armstrong & Kotler, 2008). The main strengths of the pricing strategy of the firm are that it helps add an effective value based positioning for the product or the firms that are their members. A discount would not be suitable and so the usage of free gift would be an appropriate strategy.
f) New balance running shoes: Mass marketing is an ideal strategy for shoes and so it is important that they use discount promotion methods. It helps promote the product and the brand effectively. The opportunities for the firm using the pricing strategies are to innovate and ensure that there are more products in its product lines. At the same time, it should consider the threats caused by competitors who can easily emulate the products and provide cheaper options to customers and so using patents is essential. In such cases it is extremely important that there be usage of discount strategies that can help achieve stronger levels of sales promotion. Integrated marketing strategy is to be used. It is more about continuous in touch with customers through mails, newsletters, websites etc. sales includes giving updates about new product launch and other interesting things like discounts which benefit and attract customers (Armstrong & Kotler, 2008).
Armstrong, G. & Kotler, P. (2008). Principles of marketing. Prentice Hall