Sales Promotion And Marketing Promotion - 784 Words

Sales promotion consists of all other marketing activities except for personal selling, advertising and public relations. It can be defined as short term use of incentives and other promotional activities that stimulate the customer to buy a particular product. Sales promotion is generally used for a pre-determined specific time in order to increase market demand and boost sales. Sales promotion is comparatively cheaper to advertising. Sales promotion is very useful because of the following reasons: †¢ It has a short and immediate effect on sale. †¢ Sales promotion can lead to effective stock clearance †¢ Sales promotion techniques can be used to induce customers as well as distribution channels †¢ Sales promotion also helps in winning over other competitive products in the market. Sales promotion is generally targeted towards to different market. A) Trade Sales Promotion- Trade sales promotion is generally targeted towards wholesalers and retailers. Tools for Trade Sales Promotion †¢ Trade allowance: A trade allowance can be defined as a kind of price reduction that is offered to the members of the marketing channel like wholesalers and retailers. Example: Fry’s electronics could earn a special discount for running its own promotion for Lenovo Laptops. †¢ Push Money: In this case, intermediaries generally receive push money as a bonus for pushing the manufactures product through the distribution channel. It is often directed towards the retailer’s sales. Example: WebsiteShow MoreRelatedMarketing Promotion : Sales Promotion2118 Words   |  9 PagesPromotion: Sales Promotion: 1. We will use free samples to give people a chance to try the product. We will send free sample to retail stores and supermarkets. They can have a section for Nestle to help people if they need assistance. 2. We will make the combo. The combo is water, chocolate and ice cream. Sometimes elderly have a desire for something sweet but because they are health conscious our modified product is healthy. This way the customer and consumers are happy and satisfied. 3. We willRead MoreMarketing Analysis : Sales Promotions951 Words   |  4 Pagesthe role and sales in a specific company, markets must come up with a successful sales force structure that will allowing their business to maintain long-term relationships with customers as well as increase their sales to different companies to attract more customers. There are many different types of companies that are working to expand their sales and reach a larger amount of customers every day in the business world. Therefore, these companies must come up with an effective sales force structureRead MorePricing Between Marketing And Sales Promotion2511 Words   |  11 Pagesrelation to sales promotion, pricing strategies, common pricing mistakes †¢ It takes about 30 minutes to complete the course †¢ Transcript and keyboard shortcuts are available †¢ Course completion confirmation from the SBA Course Objectives After completing this course, you will be able to: †¢ Define pricing †¢ Explain how costs affect pricing †¢ Describe pricing as a component of the marketing mix †¢ Identify pricing objectives †¢ Describe pricing strategies in relation to sales promotion †¢ Explain theRead MorePromotional Mix : Marketing And Sales Promotion2342 Words   |  10 Pagesselling, public relations, sponsorships, direct marketing and sales promotion. Advertising is the promotion of a product or service that attracts the public’s attention. Examples of advertising include billboards, newspapers, leaflets, magazines, social media etc. Personal selling is when businesses persuade customers to purchase a particular product through their employees. This is usually achieved by providing excellent customer service. Sales promotion is the attraction of customers by using specialRead MoreSales Promotion Tools Are The Lifeblood Of Marketing Products1252 Words   |  6 PagesSales promotion tools are the lifeblood of marketing products/services to consumers. Without them, people would not be as likely to purchase every new fad that comes their way, and corporations would be wasting their money on products people were nervous to buy. For example, if you were used to using one particular type of cat food because you know your cat enjoys eating it, how likely would you be to switch the food? Probably not very likely, due to the fact that you had already looked at theRead MoreMarketing Principles: Personal Selling and Sales Promotion8833 Words   |  36 Pagesï » ¿Principles of Marketing, 14e (Kotler) Chapter 16 Personal Selling and Sales Promotion 1) Which of the following elements of the promotion mix involves making personal connections with customers for the purpose of making sales? A) personal selling B) advertising C) e-commerce D) publicity E) public relations Answer: A Diff: 1 Page Ref: 464 Skill: Concept Objective: 16-1 2) A ________ is an individual acting on behalf of a company who performs one or more of the following activities:Read MoreINTEGRATED MARKETING COMMUNICATIONS: ADVERTISING, SALES PROMOTION, AND PUBLIC RELATIONS7568 Words   |  31 PagesCHAPTER 13 INTEGRATED MARKETING COMMUNICATIONS: ADVERTISING, SALES PROMOTION, AND PUBLIC RELATIONS MULTIPLE CHOICE QUESTIONS 1. 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IMC programs have been described in several ways; the consensus is to define them as follows: Integrated Marketing Communication (IMC) is the coordination and integration of all marketing communication tools, avenues, and sources within a company into a seamless program that maximizes the impact on consumers and other end users at a minimalRead MoreEssay on Sales Promotion Techniques669 Words   |  3 PagesSales Promotion Techniques 1 Marketing firms use sales promotions every day, but different companies use different techniques. According to Axia College Week Seven Supplement (2008), advertising and marketing have been with us for a very long time. In fact, in ancient Greece and Rome, advertising was etched on stone tablets and walls (Axia pg 407 chapt 13). As times change, advertising techniques also change. Sales promotions have evolved into the following classifications: discounts and deals,Read MoreThe Marketing Of Marketing Mix1340 Words   |  6 Pagesof the P’s of 4P’s in marketing mix. Promotional mix consists of A ) Personal Selling In Personal selling communication is happening on one to one with seller and customer. It is considered to be one of the most expensive form of promotion . The seller uses their appearance and product knowledge to sell the product. Examples of Personal selling - Personal Meetings , telemarketing etc. customer. Personal selling is belongs to advertising and sales promotion. Personal selling is the

Who Is Ferris Bueller - 1535 Words

â€Å"The key to faking out parents is the clammy hands† says Ferris Bueller as he explains his methods on how to fake sick and skip school. â€Å"it’s a little childish and stupid but then so is high school† utters Bueller as he validates his reasons for skipping school. As he is getting changed to prepare for his day of no school, he continues with more advice on ways to scheme parents followed by some life advice. He promptly goes on to mention his famous line, â€Å"Life moves pretty fast, if you don’t stop and look around once and a while, you could miss it† which, again is another way of saying life is short, go out and live. And what does that mean exactly? Well, Ferris has a good idea that’s for sure, and after waking his best friend, who Ironically is actually sick, Ferris begins planning for the day’s adventures. But he first needs to take care of some school business. Ferris’ first stop is the school where he â€Å"b reaks† his girlfriend out by creating a bogus story of her dead grandmother. He calls the antagonist of the movie, Principal Ed Rooney, and explains his girlfriend’s dire situation. Rooney, however, can tell that he is being played and vows vengeance on Ferris. Not surprising. At this point, it is clear to see how teenagers and their adult counterparts are stereotyped as being young and immature compared to cynical and evil, consecutively. The social and power barriers implemented by the school system create a division in the relationships that the students are able toShow MoreRelatedFerris Bueller and Catcher in the Rye Comparative Essay1008 Words   |  5 PagesFerris Bueller and Catcher in the Rye – Comparative Essay Salinger’s 1951 novel, â€Å"The Catcher in the Rye†, and John Hughes’ 1987 teenage comedy film â€Å"Ferris Bueller’s Day Off†, both reflect the lives of teenagers in a time span of nearly 40 years. 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Impact of Contextual Factors

Question: Discuss about the Impact of Contextual Factors. Answer: Introduction Managing business is one of the major challenges that are faced by all the companies in any of the industry. Managing business refers to management of all the activities and processes of the business. These processes are affected by many factors that are domestic or international in nature (Wheelen Hunger, 2011). The continuous changing environment or the dynamic nature of the business environment forces the businesses or the companies to consider some of the contextual factors in managing the business. The consideration of these contextual factors is important because these act as the basis for the variations in the business processes and the structure of the company. Most of the companies fail to involve the context in determination of the performance level of the business. The context also has its impact on the performance deviation sometimes. To analyze the impact of context on business processes, it is necessary to convert the context into contextual factors (Brinckmann, Grichn ik Kapsa, 2010). Body Context Contextual factors of the business can be defined as the factors that show the characteristics of the business. Such as size of the business, the industry it operates in, the life cycle stage of the business, the age of the business in the industry, technology, strategy, structure etc. these are considered as domestic contextual factors because these factors are internal in nature. The contextual factors that affect the company or the business from external environment especially in terms of expansion of business internationally are considered as international contextual factors. These contextual factors that have their impact on the business of the company can be determined by conducting the PEST analysis (Trkman, 2010). PEST analysis helps in environment related to political factors, economical factors, social factors and technological factors (Ho, 2014). All the factors discussed above have their impact on the business processes of the companies such as Bunnings warehouse. It is the company that operates in Australia as well as overseas. It is one of the largest household hardware chains in Australia. Bunnings is now under the ownership of Wesfarmers. The history of the company suggests that it was founded in 1887 by two brothers in Australia. It was initially a private company but was converted into public company in 1952. The actual business of Bunnings has started in 1994 with the first warehouse store named Bunnings warehouse in Melbourne (Chittithaworn, Islam, Keawchana Yusuf, 2011). As far as the size of the companys is considered, it has been identified that the company as around 300 stores that employed around 30,0000 employee all over. According to the size of the company in terms of number of stress, it is big enough to give competition to others in the industry. Size of the company affects the business in terms of providi ng the advantage of being known among the customers. However, the critical issue that generates in the company is managing such a large organization. As stated that the companys first store was opened in 1994, so that company has also has the advantage of being established brand. This is because it has been there in the industry for so long. The problem that is associated with the old company is that it is not very much updated with new environmental technologies and thus faces competition from the new companies that enters the market. Another domestic contextual factor that affects the business of the company is its stage of the lifecycle. The stage of lifecycle refers to the stage or the position of the business in its whole cycle of life. The initial stage is known as the stage of initiation where the strategies of companies are related to penetrating into the market. The next stage is the stage of growth, where the business grows rapidly followed with the stage of maturity where the business growth saturates at one point (Bayo-Moriones, Bello-Pintado Merino-Daz de Cerio, 2010). After that the business moves to declining stage where it crosses the saturation point also. As far as Bunnings warehouse is confided, it is at the stage of maturity. This is because the company is too old and serving the customers with the same strategies like before. The company has to implement the strategies that take it to the stage of rebirth and re growth. The strategies of the company stay at three pillars. The first pillar is related to the lowest price offering. This strategy is implemented by the company from initial times. Other pillars of the strategies are the wide range and the best services (Biddle, 2016). The industry that the company operates in is also one of the contextual factors that affect the business of the organization. The retail industry in Australia is very competitive and thus the increase number of hardware stores in Australia such as Home Hardware, A ustralian Outdoor Living and Classic Home Improvement are the competitors of Bunnings warehouse that gives tough competition and makes the industry competitive. However, Bunnings warehouse is still sustaining the competition with the new strategies such as DIY strategies. These strategies help the business to compete with the competitors and to attract the customers every time with fresh service and offers (Hill, Cronk Wickramasekera, 2013). Not only the domestic contextual factors affect the businesses of the company but the international factors such as the factors like political, technological, economical and social affect the working of the company. As far as the political factor of the country is considered, it is identified that there are three elements of political factors, the first one is the government policies, second its the support from the government and third one is the corruption. In situation of Bunnings, it has been identified that the company has moved to Ireland and UK by taking over the stores of Home base in UK. The brand has been change from Home base to Bunnings. Wesfarmers claimed that they will support the company and takes it to UK. The political environment or the factors of UK also supports the company to take over the stores of Home base in UK. This helps the organization with the well-established infrastructure and a framework to improve the sales of the company. Next factor is the economic factor. Economic factor is related to the economy of the international country where the company would be operating. As the economy of UK is concerned, it is very much stable and supports almost all of the industries to cater the customers in the place. Social factors are another set of factors that can affect the company. The social life of the people in UK and in Australia is very different. The UK people have different choices of modern patterns in hardwares which was not the preferred choice of Australian people. Thus, the company likes Bunnings needs to change their processes according to the choice of the UK people and thats what the company does. As far as the technology is concerned, it has been analyzed that it has a great impact on the companys that operates in hardware. This is because hardware is so much related with the latest technology. Bunnings is the company that has great technological involvement (Shabanova., et al. 2015).The company always uses latest technologi cal gadgets in the warehouse ad serves the customers with the same. This is the competitive advantage for the company. The DIY approach of the company is about ready to be innovated. This suggests that the company always remains ready for the innovation as per the technology in the environment or the market. Other than these factors, the practice of the companies to support its customers is also a great job they were doing in terms of processes. In earlier times, the people who walked into the store of hardware do not have idea if what they want and may have many queries regarding the products. But, the customer support by the company that has been provided to the customers makes it easy for them to choose their products. This proves is the result of the impact of requirement of the customers. The change in the environment or the needs of the customers is one of the major factors that can be considered as contextual (Worthington Britton, 2015). Conclusion It has been concluded that not only the factors that are domestic in nature can affect the functioning but the factor outside the organization like political, economic, social and technological also affect the processes and structure of the organization. The factors that describe the characteristics of the organization are known as contextual factors. These contextual have their impact on the Bunnings warehouse Australia and UK. The process of the company at both the places differs because of the difference in these factors at different places. So, the company should consider the contextual factors at the time of framing the policies and the processes of the company. Referencing: About Us. (2017). Bunnings. Retrieved 16 April 2017, from https://www.bunnings.com.au/about-us Bayo-Moriones, A., Bello-Pintado, A., Merino-Daz de Cerio, J. (2010). 5S use in manufacturing plants: contextual factors and impact on operating performance.International Journal of Quality Reliability Management,27(2), 217-230. Biddle, I. (2016). The Wesfarmers/Woolworths duopoly war: The Bunnings vs. Masters battle.Busidate,24(3), 3. Brinckmann, J., Grichnik, D., Kapsa, D. (2010). Should entrepreneurs plan or just storm the castle? A meta-analysis on contextual factors impacting the business planningperformance relationship in small firms.Journal of Business Venturing,25(1), 24-40. Chittithaworn, C., Islam, M. A., Keawchana, T., Yusuf, D. H. M. (2011). Factors affecting business success of small medium enterprises (SMEs) in Thailand.Asian Social Science,7(5), 180. Hill, C. W., Cronk, T., Wickramasekera, R. (2013).Global business today. McGraw-Hill Education (Australia). Ho, J. K. K. (2014). Formulation of a systemic PEST analysis for strategic analysis.European academic research,2(5), 6478-6492. Low, V. I., sector Food, G. I. C. S., Retailing, S. (2016). Home away from home. Shabanova, L. B., Ismagilova, G. N., Salimov, L. N., Akhmadeev, M. G. (2015). PEST-Analysis and SWOT-Analysis as the most important tools to strengthen the competitive advantages of commercial enterprises.Mediterranean Journal of Social Sciences,6(3), 705. Trkman, P. (2010). The critical success factors of business process management.International journal of information management,30(2), 125-134. Wheelen, T. L., Hunger, J. D. (2011).Concepts in strategic management and business policy. Pearson Education India. Wild, J., Wild, K. L., Han, J. C. (2014).International business. Pearson Education Limited. Worthington, I., Britton, C. (2015).The business environment. Harlow [u.a]: Pearson.