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MBA Discussion Questions

DQ1. Under the promotions "P" are three legs...advertising, public relations, and sales promotion. Define these marketing tools and provide a current example of each one.

Advertising is promoting the sale of a product by introducing and describing it and citing its benefits so that the public will be aware of it and want to buy it. A current example of advertising is text ads delivered to cell phone users. Public relations is the building of a brand's positive identity through the dissemination of information about the company that reflects well on it. An example of public relations is the type of ad that describes the company's charitable endeavors rather than touting its products. Sales promotion is an approach to gaining more sales of a product that generally involves special sales incentives such as rebates, cents-off coupons, sales, and other special offers. An example of a current sales promotion is the loyalty card discount offered by many large chain grocers. Only loyalty card holders can obtain the special sales pricing, and customers with loyalty cards can also use a combination of manufacturers' and grocers' coupons on the same item, reducing its cost substantially.

DQ2. What is marketing research? Why is it important in determining your marketing strategies and tactics? Define competitive intelligence. Tell me if it is part of market research. Explain whether or not it is valuable and why/why not.

Marketing research is research into a product's market to determine the demographic composition of the market, what that market wants, and how it behaves. For example, a soft drink maker would research the soft drink market to find out what age groups and genders drink soft drinks, what attributes they prefer in a soft drink, and how they tend to behave as soft drink consumers so that it can tailor its marketing to those groups. Marketing research is important in determining the company'

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MBA Discussion Questions. (1969, December 31). In LotsofEssays.com. Retrieved 07:43, March 29, 2024, from https://www.lotsofessays.com/viewpaper/2000612.html