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Assess the importance of using a mix of promotional strategies in the marketing of goods and services. - HSC - SSCE Business Studies - Question 27 - 2014 - Paper 1
Question 27
Assess the importance of using a mix of promotional strategies in the marketing of goods and services.
Worked Solution & Example Answer:Assess the importance of using a mix of promotional strategies in the marketing of goods and services. - HSC - SSCE Business Studies - Question 27 - 2014 - Paper 1
Step 1
Judgement on the Importance of a Mix of Promotional Strategies
Answer
Using a mix of promotional strategies is crucial in marketing goods and services as it allows businesses to reach various segments of the audience more effectively. Different strategies such as advertising, personal selling, sales promotions, and public relations cater to diverse consumer preferences, leading to increased engagement and potential sales. By employing a mixed approach, businesses can enhance brand visibility while nurturing customer relationships.
Step 2
Application of Relevant Case Studies
Answer
Research shows that companies like Coca-Cola manage a successful mix of marketing strategies, resulting in strong brand loyalty. By analyzing its integrated promotional mix, including extensive advertising campaigns and community engagement through public relations, we can see that the success lies in appealing to a broad audience base. Such case studies highlight the necessity of a diversified promotional approach.
Step 3
Logical and Cohesive Response
Answer
A rational framework for assessing promotional strategies involves considering the target audience, budget constraints, and desired outcomes. A cohesive marketing strategy is one that aligns promotional activities with overall business objectives, ensuring consistency in messaging and approach.
Step 4
Characteristics and Features of Promotional Strategies
Answer
Promotional strategies can be characterized by their objectives, methods, and target audience. For instance, advertising is designed to create awareness, while personal selling aims to provide individualized service. Each strategy plays a vital role in the marketing mix by fostering relationships with consumers and driving sales.
Step 5
Contribution to Importance in Marketing
Answer
The significance of utilizing a mix lies in its adaptability; as market dynamics shift, companies can pivot to emphasize the most effective channels. Moreover, employing varied methods mitigates the risk associated with relying on a single form of promotion, creating a more resilient marketing strategy that can withstand market fluctuations.