What is your promotion mix for your target market? Target Market Advertising Per
ID: 367629 • Letter: W
Question
What is your promotion mix for your target market?
Target Market
Advertising
Personal Selling
Public Relations
Sales Promotion
How Will You Set Your Budget?
Survivor
x
Q2 Essay
How does the above relate to the target market’s buying behaviors?
Q3 Essay
Based on the above product strategy how will you price the product?
I would incorporate this as part of the treatment that the patient receives. I would have charity events to cover the cost of the care packages, or try and get rants to cover the cost of the care packages for the patients.
What factors influence your decision?
Q4 Essay
Describe the marketing audit and be sure to include measurable objectives.
Q5 Essay
What are the ethical implications of your decisions?
Target Market
Advertising
Personal Selling
Public Relations
Sales Promotion
How Will You Set Your Budget?
Survivor
x
Explanation / Answer
I run a business of mobiles and mobile accessories. Out of all 4 I spend 50% on advertising as one of the most important elements of the promotional mix is Advertising which is any form of one-way paid communication in which the company is realted and identified. A good advertising campaign means my company will able to reach a large number of people effectively. The giant billboards, sms and e-mails to reach other local customers other then the add in newspapers. Further senior citizen discounts, family discounts and grand opening specials to lure the target market may also work.
Around 10% I will invest in public relations as the main purpose of public relations is that it helps build a positive public image for my company, sales etc. It also helps to evaluate public attitudes and communicates the overall goals of the company. My public relation team handles any negative issues which may arise due to poor service.
Sales promotion takes another 30% of my budget as this is helps in achieving the goal. Sales promotion items like contests, sweepstakes, giveaways and free samples or coupons works. Also contests like the first 1,000 customers of my mobile would get a prize. 15% off for students, family coupons for 20% off the day etc.
10% remaining is for Personal selling which means selling personally. This involves face to face interaction between seller and buyer for the purpose of sale. The personal selling does not mean getting the prospects to desire what seller wants but the concept of personal selling is also based on customer satisfaction.
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