The promotional decision process consists of three steps: planning, implementation, and evaluation . The planning step consists of six elements: identify the target audience, specify the objectives, set the budget, select the right promotional elements, design the promotion, and schedule the promotion.
Which promotion tactic would most likely be used by a firm when its product is in the maturity stage of the product life cycle?
Which of the following would most likely to be used by a firm when its product is in the maturity stage of the product life cycle? Sales promotion to maintain loyalty .
What two issues must be considered when putting together a firm’s promotional mix?
What two issues must be considered when putting together a firm’s promotional mix? Match the promotional effort to the audience it is best suited to . Match the following promotional objectives with the corresponding stage of the product life cycle. What are the three steps in the promotional decision process?
During which of the following stages of the product life cycle is promotion of the least importance?
a business buyer. During which of the following stages of the product life cycle is promotion of the least importance? the push strategy and the pull strategy .
What is promotion decision?
Promotion decision is used to find the appropriate and effective method to promote a particular product to increase the sales .
What are the 4 types of promotion?
- Advertising. Advertising is defined as any form of paid communication or promotion for product, service and idea. ...
- Sales Promotion. ...
- Public Relations. ...
- Direct Marketing. ...
- Authorship/Referencing – About the Author(s)
What are the 5 promotional strategies?
Promotion is one of the marketing mix elements among a system of five in a promotional plan (often known as the five Ps). These elements are personal selling, advertising, sales promotion, direct marketing, and publicity .
What four factors will determine your promotional budget?
- Fixed percentage of sales. ...
- Comparable to the competition. ...
- Objective and task-based. ...
- The maximum amount.
What is product life cycle strategies?
Guide. The product life cycle contains four distinct stages: introduction, growth, maturity and decline . Each stage is associated with changes in the product’s marketing position. You can use various marketing strategies in each stage to try to prolong the life cycle of your products.
Which promotional mix is most effective?
- Advertising.
- Public relations.
- Sales promotion.
- Direct marketing.
- Personal selling.
- Web presence.
- Social Media.
What are the 5 elements of the promotional mix?
- Advertising. Advertising is any paid form of media communication. ...
- Sales Promotions. ...
- Public Relations. ...
- Direct Marketing. ...
- Personal Selling.
What are the factors affecting the promotional mix?
- Type of Product: Type of product plays an important role in deciding on promotion mix. ...
- Use of Product: ...
- Complexity of Product: ...
- Purchase Quantity and Frequency: ...
- Fund Available for Market Promotion: ...
- Type of Market: ...
- Size of Market: ...
- Stage of Product Life Cycle:
What is push vs pull?
In simple terms push marketing involves pushing your brand in front of audiences (usually with paid advertising or promotions). Pull marketing on the other hand means implementing a strategy that naturally draws consumer interest in your brand or products (usually with relevant and interesting content).
Why is product life cycle important?
The product life-cycle is an important tool for marketers, management and designers alike. It specifies four individual stages of a product’s life and offers guidance for developing strategies to make the best use of those stages and promote the overall success of the product in the marketplace.
What is part of the product life cycle?
The stages which a product cycles through during its lifespan are: Development, Introduction, Growth, Maturity and Decline . The Product development stage is the first part of the Product Life Cycle.
What is product life cycle with example?
The home entertainment industry is filled with examples at every stage of the product life cycle. For example, videocassettes are gone from the shelves . DVDs are in the decline stage, and flat-screen smart TVs are in the mature phase. Nintendo is a good example of a company that manages its product life cycle well.
