StudentShare solutions
Triangle menu

Marketing Decision Making - Essay Example

Not dowloaded yet

Extract of sample
Marketing Decision Making

Promotion is considered as one of the major elements of marketing mix and it possesses its own mix of communication tools. Advertising, direct marketing, sales promotion among others are some of the elements of IMC, these tools enable a company to implement its advertising and marketing objectives constructively through a coordinated approach. This paper seeks to discuss the basic elements of communication mix putting more emphasis on their pros and cons and how they influence an organizations ability to succeed in their marketing program. It will provide an overview of a promotional product that I created and how I intend to market it using the IMC approach. The rational that I will follow in choosing or rejecting specific elements of the integrated marketing mix will also be provided (Mossman, 2007). Advertising is any paid form of promotions that does not employ active participation of personal presentation to promote ideas, goods, or services through the use of a specific sponsor. Advertising uses a number of channels which include the print media, media broadcast through radios and television, outdoor advertising and other forms of non personal selling. Advertising is a promotional strategy that maintains the omnipresence nature of an organization by increasing its non personal availability to different people. Advertising is highly flexible as it allows a business to focus on a small and precise segment or a mass market depending on the intention of the advertising model. It is also highly cost effective as compared to other elements of market mix as it reaches a large number of target consumers at a lower cost per person (Chen, 2011). With advertising, the message is repeated severally to the consumers which allow them time to compare the product with others offered with other organizations. Dramatization captures the attention of the audience and creates a lasting impression on their minds, a feature that is only possible with advertising. Advertising can also trigger quick sale and impulse buying among consumers which improves the impacts intended by the promotional strategy employed. However, advertising also have a number of disadvantages as compared to the other available elements of market mix. Feedback is an important aspect of promotion as it enables a business to repackage their product according to the consumer’s desires. Advertising has no room for any immediate feedback from consumers and is less persuasive when compared with the other elements of communication mix (Lichtenthal and Eliaz, 2003). Personal selling is a face to face interaction between the product promoter and the prospective consumers for the sole purpose of making presentation, answering any questions that may arise and finally procuring orders from the consumers. Personal selling is one of the most powerful elements of communication mix as they provide room for building customer relationship and long lasting business relations with the buyers. It provides the room for getting feedbacks from the consumers which allows for any adjustments on the products being marketed. Personal selling occurs in an environment where the consumers attention is fully captured increasing the possibility of getting a genuine response from them on how they view the products and the company. Despite the numerous advantages that personal selling posses, it is however an expensive means of product promotion ...Show more

Summary

Integrated Marketing Communication Name Institution Professor Date Section 1: integrated marketing communication Integrated marketing approach is a modern marketing approach that gained prominence during the late 20th century and has been employed in different avenues of marketing with varying success…
Author : ocummerata
Marketing Decision Making essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Marketing Decision Making"
with a personal 20% discount.
Grab the best paper

Related Essays

Tourists decision-making
In the recent years, journals are preferred for learning marketing knowledge and this has lead to an increase in journals in the market worldwide. Marketing managers are gathering information from journals, which have greatly influenced their decisions.
4 pages (1000 words) Essay
Decision Making
This report highlights the importance of market research and consumer buying behavior in the light of Grand Days Out plc, an organization that owns and operates theme parks and other leisure activities. It starts of by identifying three Critical Success Factors for the company.
8 pages (2000 words) Essay
Marketing Decicion Making
In an abundant economy, the provision of marketing information becomes a complex, expensive task. The communications process is concerned with the dissemination of stimuli and their perception, impact, use, and effectiveness. Marketing communications have meaning to the extent that an individual's predisposition or experience permits him to see, hear, or read them.
8 pages (2000 words) Essay
MARKETING RESEARCH AND INORMATION ;Research Planning for Decision Making
llent financial performance and has grown year after year by expanding into many geographical diversities and today Mc Donald’s is available in almost every part of the world , having a presence in 118 countries and having over 30,000 outlets all over the world. However, fast
12 pages (3000 words) Essay
Managerial Decision Making
The plan was prepared with meticulous care taking into account all details of international trade, customs laws, partnering with marketing companies of international repute and establishment of shipping and freight handling operations. However within the
2 pages (500 words) Essay
Decision making
In the given case study, the Hispanic woman interviewed by me and my co-worker for the marketing manager post in our firm, has a Masters Degree in Marketing and around 20 years of experience in similar position in another competing firm. Generally,
3 pages (750 words) Essay
Decision-making
Capital Asset pricing model is one such tool which is used to calculate the rate of return on any given security by considering the risk and return profile of the individual security. What is also important to understand that Capital
9 pages (2250 words) Essay
Decision Making Assessment (Synthesis)
1) of the organization. Decision making process involves agreement between the decision maker and stakeholders regarding definition of the problem, requirements and
2 pages (500 words) Essay
Mcdonalds decision making
The leadership of the organization has adopted the democratic system of decision making where employees contribute to the decision making process on important issues of the organization (Reid & Bojanic, 2010). The
1 pages (250 words) Essay
Decision-Making Paper
Group decisions tend to be heavily influenced by the behavior of the social group involved. Groups that are highly compact, cohesive and posses’ homogeneous views in most cases have negative implications on decision
5 pages (1250 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation