The 5 factors that influence the effectiveness of the promotional mix. Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

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Answer 1

Question

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

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The various objectives of promotion. What ways does promotion benefit marketers?

| do not copy from another same ques answer,i need differe nt one. Task Description: One of the most important questions faced by business leaders in the strategic marketing process is a choice of timing to launch new product/technologies and enter new markets. There are two options: to be a pioneer or to be a follower. Both have advantages and risks, the relative success of each strategy depends on several factors, both internal and external. Tasks: Answer the following essay questions: 1. What are the advantages of being a pioneer and follower company? Provide examples of successful pioneer and follower companies. 2. What product life cycle strategies do successful pioneer and follower companies implement to increase growth and maintain a strong competitive advantage? Provide examples of companies to support statements made. Follow instruction: 1. Word: within 2500 word, not bellow 2400. 2. Give table, charts, diagrams, graphs and images should be properly cited and properly named.

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Answer 2

Question

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

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Answer 3

Question

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

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Answer 4

Question

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

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Answer 5

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

Answer 6

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

Answer 7

Chapter 17.7, Problem 1LO

Summary Introduction

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Answer 8

Expert Solution & Answer

Explanation of Solution

The 5 factors that influence the effectiveness of the promotional mix are as follows:

Nature of the market
Nature of the product
Price
Stages in the product lifecycle
Funds available for promotion.

Nature of the market: It is important for the marketer to know the number of buyers and the type of customers present in the market. To market different types of goods marketer switch between the personal selling and advertising to reach large audience. For example Industry P uses both salesperson and television advertisements to promote their product.

Nature of the product: Customers would prefer to buy the product only after knowing the complete nature of the product in this case the personal selling would be best than television advertisements. Personal selling is best for complex product such as software and hard ware system and advertising is best for standardized product as soft drinks.

Price: The price of the product will be low and these products are advertised in mass media for example tooth baste, and soap. If the price of the product is high the involvement of the customer would be high and these goods requires both personal and media advertisements. For example furniture and television.

Stages in product lifecycle: As the stages of the product, change the promotional mix of the marketer should also change during introduction stage product requires both personal and non-personal promotion. During growth and maturity stage, non-personal promotion is necessary to remind customer to purchase the product.

Fund available for promotion: The cost that is available to promote the product. For example, organization with low budget may choose for sales promotion, publicity, and online advertising. The high budget organization may choose for celebrity advertisement.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

The 5 factors that influence the effectiveness of the promotional mix. Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

To identify: The 5 factors that influence the effectiveness of the promotional mix. Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.

Explanation of Solution

Want to see more full solutions like this?

To identify: The 5 factors that influence the effectiveness of the promotional mix.

Promotion is the marketing communication mix which the companies use to build customer relationship, involve customer, and communicate customer value.