Promotional Pricing – Meaning, Types, Advantages, and Disadvantages

Marketing includes a very important concept that is marketing mix; it has four major components that are promotion, people, price, and place. Nevertheless, in the marketing mix after the product, the second most important factor is the kind of price that is being used. This is because the distribution and the promotion mix can be modified by the kind of pricing being used. It can be an enormous job to set up the correct price for products and services while establishing a new company and it could be equally for a company that has a year of existence on the market.… Read the rest

Advantages and Disadvantages of Sales Force Automation (SFA)

Sales person use sale forces as a step to enhance their marketing strategy. The improvements of technology helped sales person able to structure their customers’ data managements well. Sales force automation is a system that being develop to helps companies to organize their customer relationship management with confidentiality. Besides automatically computerized customers data into computer, it helps enable sales person to plan and structures their selling in the most effective way as well. It makes work easier and organized as well as more reliable for sales person. In short, sales force automation system is a good “assistant” for sales person. However, sales force automation system also brings some disadvantages where sales force automation system is complicated system involving digitalized figure yet new for older sales people.… Read the rest

Brand Extension – Meaning, Advantages, and Disadvantages

In over two decades, the business strategy of introducing new products as extensions has become popular. Similarly, brand extension is considered as a key to developing a brand. In detail, it is widely used as eight out of ten new products are introduced as a brand extension in the market. Brand extension strategies are broadly applied in order to reduce marketing expense in launching new products, enhance the well-known and quality of core brands, and lessen the risk for companies.

Brand extension is defined as a product whose nature and function differ from those of products currently commercialized under the brand name.… Read the rest

Characteristics of a Good Advertisement Copy

The success of advertisement depends very much upon the copy of advertisement. The  main aim of the advertisement is to attract the customer and create an urge to possess  that product. If the advertisement does not fulfill this objective, the expensive  advertisements are useless. Hence, the advertisement copy should be drafted very  carefully.

The person who drafts the advertisement copy must be thoroughly acquainted with the  mental process. He should be imaginative enough to think of words and patterns which  would produce the desired effect on the prospective customer. An effective copy of  advertisement should posses the following characteristics, qualities or values:

  1. Attention Value: An Advertisement copy must attract the attention of the  potential consumers.
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Factors affecting Advertising Media Selection

The advertising medium refers to the means  through which the advertiser can convey his message to audience.  Proper selection of the media  enables the advertiser to achieve the desired results. Hence, advertising media selection  is vital for the success of  an advertising campaign.

An advertising medium is any object or device that carries the advertising message. It  should be capable of accomplishing following three objectives:

  1. To reach the largest number of people possible.
  2. To gain their attention.
  3. To be less expensive.

The character of the medium is largely determined on the objective and factual basis  such as whether the coverage of the medium should be national, regional or only local.… Read the rest

Managing the Industrial Sales Force

Sales force management is one of the important task for industrial  marketing managers where they take great care in selecting the right  personnel who can help them to increase their sales. They also give their  sales team proper product training, supervise their performance,  frequently motivate them by offering compensations, and at the same  time control the expenses incurred.

There are various steps that are involved in the industrial sales force  management.

1. Selection of Sales Personnel

Personal selling starts with selecting the salesperson who acts as the  representative of an organization. They help to create an image and  reputation of the company apart from increasing the sales by offering  various products and services to the industrial buyers.… Read the rest