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summary marketing & sales 1 chapter 15
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a summary for the subject marketing & sales for chapter 15. important words are highlighted and it is fully in english.
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Buy Official© Solutions Manual for CFIN, Besley,6e
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SOLUTIONS MANUAL / INSTRUCTOR RESOURCE for MKTG, 12th Edition Principles of Marketing by Charles W. Lamb, Joe F. Hair and Carl McDaniel. ISBN 9781337671842. Complete Chapters 1-19.
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summary marketing & sales 1 chapter 13 & 19
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Chapter 15 marketing communicationsThe role of promotion in the marketing mix
Not a lot of goods or services can survive in the marketplace without effective promotion.
Promotional strategy is a plan for the optimal use of the elements of promotion:
Advertising
Public relations
Personal selling
Sales promotion
Digital and social media
The marketing managers determine the goals of the company’s promotional strategy considering
the firm’s overall goals for the marketing mix- product, place (distribution), promotion and price.
Using these goals, marketers combine the elements of the promotional strategy (the promotional
mix) into a coordinated plan. The promotion plans become an integral part of the marketing
strategy for reaching the target market.
The main function of a marketer’s promotional strategy is to convince target customers that the
goods and services offered provide a competitive advantage over the competition.
Competitive advantage: the set of unique features of a company and its products that are seen by
the target market as significant and superior to those of the competition. So, they are seen as
better than the competitors' products. Examples of these features- high products quality, quick
delivery, low prices, excellent service or a feature that is not offered by the competition.
Marketing communication
Promotional strategy is closely related to the process of communication.
Communication: the process by which meanings are exchanged or shared through a common set
of symbols. When a company wants to develop a new product or change an old one it must
communicate its selling message to potential customers.
Interpersonal communication
Communication can be divided into 2 major categories: interpersonal communication and mass
communication.
Interpersonal communication is direct, face to face communication between two or more people.
mass communication
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