Mkt501 GDB No. 2 solution
Monday, June 27, 2011 Posted In Mkt Edit This| Semester “Spring 2011” | |
| “Marketing Management (MKT501)” This is to inform that next Graded Discussion Board (GDB) will be opened according to the following schedule | |
| Schedule | |
| Opening Date and Time | Jun 23, 2011 At 12:01 A.M. (Mid-Night) |
| Closing Date and Time | Jun 27, 2011 At 11:59 P.M. (Mid-Night) |
| Topic/Area for Discussion | |
| “Promotion Mix” | |
It was published in The Daily News that a Brigadier was using security alarm product of XYZ Company for personal car. Once he visited a market for shopping and parked his car out side the shopping mall. During the shopping the security alarm echo alerted his mind that there was a problem with his vehicle. Before, the Brigadier turned back, the traffic policy warden was inquiring the event from the market visitors. People were reporting there was a suspicious person who was trying to unlock the car but due to efficient security system he could not and vanished. Brigadier recorded his message that if he had not used the specific security system of particular company, he would have lost his car.
SOLUTION:
Public RelationsCompanies cannot survive in isolation they need to have a constant interaction with customers, employees and different stakeholders. This servicing of relation is done by the public relation office. The major function of the public relation office is to handle press releases, support product publicity, create and maintain the corporate image, handle matters with lawmakers, guide management with respect to public issues.
Companies are looking at ways to converge with functions of marketing and public relation in marketing public relation. The direct responsibility of marketing public relation (MPR) is to support corporate and product branding activities.
MPR is an efficient tool in building awareness by generating stories in media. Once the story is in circulation MPR can establish credibility and create a sense of enigma among sales people as well as dealers to boost enthusiasm. MPR is much more cost effective tool than other promotional activities.
and
http://www.slideshare.net/2cdude/promotion-mix-3936058 slide 12
And
http://www.ehow.com/about_6739541_de...marketing.html
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Public Relations
Companies cannot survive in isolation they need to have a constant interaction with customers, employees and different stakeholders. This servicing of relation is done by the public relation office. The major function of the public relation office is to handle press releases, support product publicity, create and maintain the corporate image, handle matters with lawmakers, guide management with respect to public issues.
Companies are looking at ways to converge with functions of marketing and public relation in marketing public relation. The direct responsibility of marketing public relation (MPR) is to support corporate and product branding activities.
MPR is an efficient tool in building awareness by generating stories in media. Once the story is in circulation MPR can establish credibility and create a sense of enigma among sales people as well as dealers to boost enthusiasm. MPR is much more cost effective tool than other promotional activities.
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Promotion is one of the four aspects of Marketing and the other three parts of the marketing mix are product management, pricing, and distribution. Promotion involves disseminating information about a product, product line, brand, or company. Promotion comprises four subcategories:
> Advertising
> Personal selling
> Sales promotion
> Publicity and public relations
The specification of these four variables creates a promotional mix or promotional plan. A promotional mix specifies how much attention to pay to each of the four subcategories, and how much money to budget for each. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image.
In our scenario of Brigadier’s car is the promotion mix tool is
Dominant mind share: A brand may achieve dominant mind share when it is associated with a whole category of products, but has not necessarily become a generic term for these products.
Justification: In our scenario the Brigadier is dominated by the mind share tool of the specific company and hence is completely satisfied with the service and the name of the company.
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SALE PROMOTION TOOL
According my point of view in the above discussion the sales promotion tool is use because the sales promotion is “non-personal promotional efforts that are designed to have an immediate impact on sales” in today modern era the advertising is sprouting even further with revolutionary” promotion that involves unusual approaches such as stage encounters in public places give away of product such as car covered with a brand communication, and interactive advertising where the viewed become part of advertising message, company also try to promote his brand with the help of practical examples.
Companies are looking at ways to converge with functions of marketing and public relation in marketing public relation. The direct responsibility of marketing public relation (MPR) is to support corporate and product branding activities.
MPR is an efficient tool in building awareness by generating stories in media. Once the story is in circulation MPR can establish credibility and create a sense of enigma among sales people as well as dealers to boost enthusiasm. MPR is much more cost effective tool than other promotional activities.
and
http://www.slideshare.net/2cdude/promotion-mix-3936058 slide 12
And
http://www.ehow.com/about_6739541_de...marketing.html
:::::::::::::::::::::::::::::::::::::::::::::::::::::
Public Relations
Companies cannot survive in isolation they need to have a constant interaction with customers, employees and different stakeholders. This servicing of relation is done by the public relation office. The major function of the public relation office is to handle press releases, support product publicity, create and maintain the corporate image, handle matters with lawmakers, guide management with respect to public issues.
Companies are looking at ways to converge with functions of marketing and public relation in marketing public relation. The direct responsibility of marketing public relation (MPR) is to support corporate and product branding activities.
MPR is an efficient tool in building awareness by generating stories in media. Once the story is in circulation MPR can establish credibility and create a sense of enigma among sales people as well as dealers to boost enthusiasm. MPR is much more cost effective tool than other promotional activities.
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Promotion is one of the four aspects of Marketing and the other three parts of the marketing mix are product management, pricing, and distribution. Promotion involves disseminating information about a product, product line, brand, or company. Promotion comprises four subcategories:
> Advertising
> Personal selling
> Sales promotion
> Publicity and public relations
In our scenario of Brigadier’s car is the promotion mix tool is
Mind Share
One of the main objectives of advertising and promotion is to establish what is called mind share (or share of mind) When people think of examples of a type or category of product, they think of a limited list (referred to as an evoked set). Any product included in an evoked set has mind share Mind share can be established to a greater or lesser degree depending on market segment. A similar concept is top of mind. The more easily you remember a brand, the closer it is to your top of mind. This implies that you have not forgotten or buried the information.Justification: In our scenario the Brigadier is dominated by the mind share tool of the specific company and hence is completely satisfied with the service and the name of the company.
:::::::::::::::::::::::::::::::::::::::::::::::::::::::::
SALE PROMOTION TOOL
According my point of view in the above discussion the sales promotion tool is use because the sales promotion is “non-personal promotional efforts that are designed to have an immediate impact on sales” in today modern era the advertising is sprouting even further with revolutionary” promotion that involves unusual approaches such as stage encounters in public places give away of product such as car covered with a brand communication, and interactive advertising where the viewed become part of advertising message, company also try to promote his brand with the help of practical examples.
