Penetration pricing is the market concept adopted for a new product to be launched in a market with low prices, so that it may penetrate in the market and can gain its position among-st the rivals. This strategy is implemented by the marketers for achieving the high ratio of sale for their new product by keeping it economical. By using this idea you can diffuse new product in a previously existed market in which there are huge rivals. You can keep your price low and compete in the market.
Marketing management are the organizational principal on the basis of which we apply all the marketing tactics, methods and strategies insides the business enterprises, firms or companies. These marketing management principals set the rules and regulation for every employees of the business organization. We may also says that practically implementation of marketing orientation, techniques and methods is known as marketing management.
Public service advertisement is a type of marketing that is circulated in the market without any cost and is for the public welfare. These are designed and broadcast for the societal improvements and for collective wellbeing of community as a whole. Also these are broadcast by the mass media to let the general public know and inform about the social matters. Along with the attraction the public service advertisement always have some specific purpose behind its agenda. Public service advertisement evolved after the First World War and instead of making money, it is for covering some specific agenda and to resolve some societal problem in a disguised form.
The Consumer Adoption Process is a 5 step mental process by which all the customers/ consumer go through while adopting a product from learning about a new product to becoming a happy loyal user of that product or to decline/reject the product completely. The process of a consumer of moving from a cognitive state toward the emotional state and finally reaching towards the behavioral or conative state is another way to explain Consumer Adoption Process.
Choice of right sales promotion strategies has become important today. You can never get success in the market until you do not understand your audience and still if you do not put the sales promotion strategy, you can’t get success in the market. The most important part of the daily business activities is promoting the products finished goods for sale. Attracting and retaining a customer is important to make a sale. The companies have opted many efficient strategies that are tried and tested over the period of time. In this article we will discuss the Sales Promotion Strategies in detail, there meaning, their use in business world and the benefits that Sales Promotion Strategies yields for the business organizations.
Before moving towards the different types of product positioning and product positioning strategies, it is important to know the product positioning definition or what is product positioning? Product positioning can be defined as the position or place a product resides in the consumer’s mind with respect to the competing product. It is a process used by marketers to determine the best possible way to promote the product attributes to the target market according to the customer needs and wants, competitive structures and advertising media. The survival of the product in the market requires a sustainable competitive advantage and a unique selling proposition. Creating an identification of the product in the market is simply called product positioning. Below are the various types of product positioning strategies.