2Top BMP

2Top BMP



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Marketing is often defined as a matter of identifying consumer needs and ^ ' • developing the goods and services that satisfy them. This invoives developing Ls the right product, pricing it attractively, and making it available to the target"? ^ J customers, by persuading distributors and retailers to stock it. But it is aIso«J^ł ** necessary to inform potential consumers of the producfs existence, its *•£ 5    £

features, and its advantages, and to persuade them to try it. There are generally | f several stages involved in a consumer's decision to buy a new product. A well- J^ known acronym for this process is AIDA, standing for Attention, Interest, Desire, ^    ?"*

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product, price, place and promotion - attracting attention, arousing interest, and ^ " persuading the consumer to act are all part of promotion. Marketing textbooks £ conventionaIly distinguish four basie promotional tools: advertising, sales    *    *

promotion, public relations, and personal selling, which together make up the 5* marketing Communications mix.    >Ł


For consumer goods, the most important tool is generally advertising. As well as advertising particular brands, companies also carry out prestige or institutional advertising, designed to build up the company'©’ name or image. Advertising is often combined with sales promotions, such as free samples, coupons and competitions.

For industrial goods, particuiarly speciaiised ones, the most important tool is often personal selling. Sales reps can build up relationships with company buyers, and can be very useful in persuading them to choose a particular product. The fourth promotional tool is public relations (frequently abbreviated as PR): activities designed to improve or maintain or protect a company's or a producfs image. Public relations includes things like company pubiications, most notably the annual report, sponsorship, community relations programmes, the lobbying of politicians,. and the creation of news stories, all designed to get publicity for the company or a particular product. Unlike paid advertising, publicity is any (favourable) mention of a company's products that is not paid for, in any medium received by a company's customers or potential customers. Companies often attempt to place information in news media to draw attention to a product or service, Quite apart from financial considerations, the advantage of publicity is that it is generally morę likely to be read and believed than advertising. It can


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