SALES PROMOTION

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PROMOTION IS THE FOURTH MAJOR COMPONENTS OF THE MARKETING MIX AND SALES PROMOTION IS THE SECOND ELEMENT OF PROMOTION. BESIDES SALE PROMOTION ,OTHER ELEMENTS OF PROMOTION ARE ADVERTISING , PERSONAL SELLING  AND PUBLICITY.WHILE ADVERTISING OFFERS REASON TO BUY , SALES PROMOTION OFFERS AND INCENTIVE TO BUY. SALES  PROMOTION IS A DIRECT AND INSTANT INCENTIVE OR INDUCEMENT SEEKING FOR IMMEDIATE INCREASE IN SALES.
BEING AN IMPORTANT PART OF PROMOTION THERE SEEMS TO BE A WAVE IN PROMOTION IN RECENT YEARS . THE PRESENT DECADES IS EVIDENTIAL OF A MAJOR CHANGE IN THE NATURE OF PROMOTION SUCH AS- COUPONS , BIG CONTESTS SAMPLE.
ALONG WITH MAGAZINES  DEALS ON INTERNET ETC. THERE IS A CLIMAX IN SALES PROMOTION WITH OFFERS LIKE – BUY TWO GET ONE FREE . BUY A MERCEDES BENZ WIN A COLOUR TV ETC.

MARKETING MIX COCEPT

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MARKETING MIX 

THE EXPRESSION MARKETING MIX WAS COINED BY JAMES CULLITON  A  NOTED MARKETING EXPERT WHO ALSO DESCRIBED THE MARKETING MANAGER AS A MIXER OF INGREDIENTS OF THE MARKETING-MIX . THE EXPRESSION WAS SUBSEQUENTLY POPULARISED AS THE CONCEPT OF MARKETING MIX BY ANOTHER NOTED MARKETING EXPERT  NAMELY NEIL H BORDEN.

MARKETING MIX REPRESENTS THE COMPANY’S MARKET OFFER. SUCH MARKET OFFER IS COMPOSED OF FOUR ELEMENTS . FIRSTLY THE MARKETERS CREATES A PRODUCTS WHICH WILL MEET THE IDENTIFIED NEEDS AND VALUE OF THE CONSUMERS .SECONDLY          HE CARRIES OUT THE FUNCTION OF TRANSPORTATION , WAREHOUSING  AND RETAILING ETC. SO THAT THE PRODUCT CONVENIENTLY REACHES THE CUSTOMERS. 

THIRDLY   
HE ENDEAVOUR TO COMMUNICATE THE VALUE IN THE FORM OF A BUNDLE OF BENEFITS TO THE CONSUMERS BY ADOPTING VARIOUS PROMOTIONAL ACTIVITIES SUCH AS – PERSONAL SELLING , ADVERTISING ETC.
FOURTHLY
THE MARKETERS FINAL TASK IS TO ARRIVE AT A PRICE WHICH IS AFFORDABLE BY AND ACCEPTABLE TO THE CONSUMERS . 
THEREFORE MARKET MIX IS A CONCEPT FOR EXPLAINING ALL MARKETING ACTIVITIES OF AN ORGANIZATION AND DECISIONS MADE THEREON BY MARKET EXECUTIVES.  

COMMUNICATION IN DETAILS

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WHAT IS COMMUNICATION

 COMMUNICATION IS THE EXCHANGE OF INFORMATION OR IDEAS.IT IS THE ALSO ART OF ACT EXPRESSING A MESSAGE IN A WAY THAT ALLOWS OTHER TO UNDERSTAND.

COMMUNICATION TAKES PLACE WHEN THE SENDER:

HAS A MESSAGE TO BE COMMUNICATED ANDHAS A PURPOSE TO COMMUNICATE THE MESSAGE 

EFFECTIVELY  COMMUNICATION INVOLVES :

Using appropriate voice and body language

Understanding the message being communicated and

Responding appropriately


HOW DOES COMMUNICATION TAKE PLACE ?

COMMUNICATION TAKES PLACE IN FACE TO FACE MODE OR IN THE SPOKEN MODE ORIN THESE SITUATION : SOCIAL

COMMUNICATION TAKES PLACE IN DIFFERENCE SITUATION 

FORMAL
SEMI-FORMAL
INFORMAL
 

CONCEPT OF SEGMENTATION

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MY BLOG IS ABOUT SEGMENTATION (CONCEPT AND DEFINITION):

THE MARKET FOR A PRODUCT MEANS ACCUMULATION OF THE CUSTOMERS OF THE SAME PRODUCT AND SUCH CONSUMERS DIFFER FROM EACH OTHER IN THEIR NEEDS MOTIVES AND FEATURES, AND VARY IN THEIR BUYING BEHAVIOUR .FROM ALL SUCH VARIANT IT APPEARS  THAT MARKETS FOR PRODUCTS ARE HETEROGENEOUS AND THE PURPOSE OF SEGMENTATION IS TO DIVIDE THEM INTO HOMOGENEOUS SUB-MARKET. THE BREAKING UP OF MARKETS LEADS TO A MARKET SEGMENT CONSISTING OF A GROUP OF A GROUP OF CONSUMERS WHO SHARE A SIMILAR SET OF NEEDS AND WANTS AND WHOSE MOTIVES AND BUYING BEHAVIOUR WILL ALSO BE ALIKE.     

CONCEPT OF CUSTOMER RELATIONSHIP MANAGEMENT

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MY BLOG IS ABOUT CRM:

PRIMARILY CRM STANDS FOR CUSTOMER RELATIONSHIP MANAGEMENT (CRM) IS A BUSINESS STRATEGY ENABLED BY THE ADVANCES IN TECHNOLOGIES . WORLDWIDE IMPLEMENTATION OF CUSTOMER INFORMATION , ENTERPRISE RESOURCES PLANNING (ERP). SYSTEMS  SALES FORCE AUTOMATION AND INTEGRATED SELLING POINT SYSTEMS —- ALL TOGETHER HAVE MADE CUSTOMER INFORMATION AVAILABLE READILY AND MASSIVELY. ADVANCEMENT IN INFORMATION MANAGEMENT TECHNOLOGY AND SUPPORTING INFRASTRUCTURE ENABLE US TO TAKE ADVANTAGE OF THIS INFORMATION COST-EFFECTIVELY AND INDICATIVELY.  THE FOCUS IS ALSO BEING SHIFTED TO BOTH CUSTOMER INTERACTION AND CUSTOMER RETENTION.  

SCOPE OF MARKETING RESEARCH (MR)

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MY BLOG IS ABOUT THE SCOPE OF MR: 

THE SCOPE OF MARKET RESEARCH IS TO PROVIDE  MANAGEMENT WITH THE INFORMATION ON MARKET REQUIREMENT ,IDENTIFICATION OF MARKET OPPORTUNITIES AND FORMULATION OF MARKETING POLICIES FOR TARGETS TO BE ACHIEVED AND REALISTIC TARGETS FOR FUTURE  PERFORMANCE . ITS IN FACT THE CONTINUOUS DEPLOYMENT AND REDEPLOYMENT OF RESOURCES IN ORDER TO MATCH THE CHANGING OPPORTUNITIES OF THE MARKET.
WITH THE INCREASING COMPLEXITY OF BUSINESS OPERATION MARKETING RESEARCH HAS NOW COME OUT AS A VERY HIGHLY SPECIFIED FUNCTION SPREAD OVER A WIDE AREAS OF MARKETING RESEARCH FOR
ESTABLISH PRODUCTS IN THE EXISTING MARKETING, NEW PRODUCTS DEVELOPMENTS ETC. 

CLASSIFICATION OF MARKETING RESEARCH (MR)

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MY BLOG IS ABOUT CLASSIFICATION OF (MR):

MARKETING RESEARCH PROJECT MAY BE CLASSIFIED AS FOLLOWS——–1.RESEARCH ON ROUTINE AND NON ROUTINE PROBLEMS.

2.RESEARCH  ON SHORT TERM AND LONG TERM PROBLEMS.

3.CLASSIFICATION BASED ON END-USE PURPOSE OF RESEARCH.

4.CLASSIFICATION  BASED ON THE SUBJECT RESEARCHED.

OUT OF THE FOUR ABOVE CATEGORIES OF RESEARCH ONLY THE LAST ONE NAMELY CLASSIFIED BASED ON THE SUBJECT RESEARCHED. NEEDS EXPLANATION BECAUSE ON THE CONCERNED CLASSIFICATION INVOLVES APPLICATIONS RELATING TO CONSUMER , PRODUCT, PRICING, DISTRIBUTION AND SO ON.  

MARKETING RESEARCH (MR)

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MY BLOG IS ABOUT MARKET RESEARCH :

IN CONSISTANCE WITH  THE PRESENT GROWTH OF SALES AND IN KEEPING WITH THE PRESENT MARKET TRENDS , CONSUMERS PREFERENCES AND COMPETITORS STRATEGIC MOVE AND DECISION MAKERS NEED TO MAKE THE BEST POSSIBLE TACTICAL DECISIONS IN THE SHORT RUN AND THE BEST PRACTICABLE STRATEGIC
DECISIONS IN THE LONG RUN . IT IS FOR THE REASONS THAT PRESENT DAY DECISIONS MAKERS NEED TIMELY ACCURATE AND ACTIONABLE INFORMATION ABOUT CONSUMERS COMPETITION AND MARKET  TRENDS.  MARKETING INFORMATION ON THE OTHER HAND PROVIDES THE RAW MATERIALS FOR MARKETING RESEARCH LEADING TO FINALITY OF ITS FINISHED PRODUCTS .

BRANDING

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MY BLOG IS ABOUT BRANDING:

A BRAND IS A PRODUCTS OR SERVICES WHOSE DIMENSIONS DIFFERENTIATE IT, IN SOMEWAY OR THE OTHER, FROM THE OTHER PRODUCTS OR SERVICES BOTH DESIGNED TO MEET THE SAME NEED AND WANT . BASICALLY A BRAND IS A MARK OF IDENTITY AND OWNERSHIP.
CLASSIFICATION OF BRANDING
1.INDIVIDUALBRANDING
2.FAMILY BRANDING
3.UMBRELLA BRANDING
 4 INTERMEDIARY BRANDING
5.REGIONAL BRANDING
6.NATIONAL BRANDING
7.GLOBAL BRANDING
8.ADVERTISING BRANDING

 IMPORTANCE OF BRANDING 

 AS A POWERFUL INSTRUMENT OF SALES PROMOTION BRANDING HELPS THE BUYER TO IDENTIFY THE PRODUCTS AND TO ENSURE PRODUCTS QUALITY. THE SELLERS BRAND NAME AND TRADE MARK PROVIDE LEGAL PROTECTION TO THE SELLERS.
THE MARKETERS MUST HAVE THE PROFESSIONAL SKILL TO CREATE , MAINTAIN , PROTECT AND ENHANCE BRANDS OF THEIR PRODUCTS AND SERVICES.

PRODUCT (CARRIER OF VALUE)

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MY BLOG IS ABOUT CARRIER VALUE OF PRODUCTS :

PRODUCTS IS THE KEY ELEMENTS IN ANY MARKET OFFERING . THE MARKET COMMANDERS GENERALLY OFFER PRODUCTS AND SERVICES TO THE CUSTOMERS.
MARKET PLANNING STARTS WITH THE TASK OF FORMULATING AN OFFER TO MEET THE TARGET CUSTOMER NEEDS AND WANTS . PRODUCT IS THE IMPORTANT AND SIGNIFICANT CARRIER OF THOSE NEEDS AND WANTS OF THE CUSTOMERS MEANING THE CUSTOMER VALUE THAT IS  THE VALUE ASPIRED BY THE CUSTOMER . THIS COULD BE ACHIEVED BY INCORPORATING IN THE PRODUCTS SOME VALUE ATTRIBUTES WHICH FORM THE CUSTOMER VALUE AND BENEFITS ARE CONVEYED TO THE END-USERS. ALL SUCH VALUE SOMETIMES ALTERNATIVELY CALLED BUNDLE OF BENEFITS.