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Evaluate three promotional methods for a product or service of your choice. - Leaving Cert Business - Question C - 2002
Question C
Evaluate three promotional methods for a product or service of your choice.
Worked Solution & Example Answer:Evaluate three promotional methods for a product or service of your choice. - Leaving Cert Business - Question C - 2002
Step 1
Evaluate Advertising
Answer
Advertising is a crucial promotional method that influences customers' perceptions of a particular product or service. It aims to inform, persuade, and remind potential customers. The effectiveness of advertising can vary based on the medium used—television, radio, online platforms, etc.—as well as the target market and the product type. For instance, visual media can effectively show the benefits of a consumer product, but high costs may limit smaller enterprises. Therefore, while advertising is vital, it is essential to consider the cost-effectiveness relative to the anticipated reach.
Step 2
Evaluate Sales Promotion
Answer
Sales promotions involve various techniques to attract customers to a product or service. This can include discounts, buy-one-get-one offers, and free samples. These incentives encourage immediate purchases and can effectively move inventory. However, reliance on frequent promotions may lead customers to perceive the product as lower quality or waiting for sales. Therefore, while this method can quickly boost sales, it should be part of a balanced marketing strategy.
Step 3
Evaluate Public Relations
Answer
Public relations (PR) focuses on building and sustaining a positive image for the enterprise. This method includes press releases, community involvement, and sponsorships. PR helps improve public perception and fosters customer loyalty. However, it often requires ongoing effort and doesn't yield immediate results, making it essential for long-term brand growth. While effective, PR must be coordinated with other promotional strategies to enhance its impact.