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Marketing management is a major component of business control that reflects the
practical applications of marketing principles and techniques. It further
controls marketing resources and activities of business concern. In simple word
marketing can be understood as a managerial and social process using which the
organizations and individuals attain satisfaction for their needs by creating
and exchanging value among others. Marketing is purely concerned with
customers. The marketing process is divided into four different steps:
1.
Identification of the needs of the customers
2.
Creation of a customer oriented product that can be sold in the market
3.
To build and maintain relationships with potential customers.
4.
Gather the benefits from a developed customer relationship base
The marketing division of every
organization focuses on the creation of a new market along with maintaining the
satisfaction level of old customers. The forces of Globalization have led the
firms to promote and market their products in the foreign as well as the home
countries, making the strategies of international marketing highly considerable
that makes it an integral part of the marketing strategy of a firm.
Sales Promotion in the process
of marketing Management: Sales promotion is known to be the most crucial aspect of the
promotional mix. A product will be considered useless if it cannot be sold in
the market. In order to sell a product it is important to make the customers
aware about the product. In the way of making the customers aware about the
product, sales promotion can be an important tool used to promote a product.
Marketing, communication, media as well as the non Media marketing
communication are engaged for predetermination and for the stimulation of the
market. Several communications activities are used for Sales and promotion that
attempts to provide rewards or incentives to consumers, wholesalers, retailers,
or other customers of the organization so as to increase immediate sales. These
types of efforts may help to improve the product interest, trial, or purchase.
Various methods are used to
promote or stimulate sales promotion. For examples coupons provided by the
company, free samples, premiums, point-of-purchase (POP) discounts, contests,
rebates, and survey. If a company wants to attract customers and to retain the
current customers than making use of the sales promotion tool is requisite.
This tool, if used properly, it can be proved to be a very effective tool that
can help in the instances of tough competition, counteracting and exploiting
the opportunities that are revealed by the market research. The main motive of
the sales promotion assessment is to help students understand the various
activities that eventually contribute in increasing the sales of the company.
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