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Importance of Product Promotion Strategies

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  • Level: Diploma
  • Pages: 5 / Words 1200
  • Paper Type: Assignment
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Introduction

In this research report we will be accomplishing a survey in the area of marketing strategies, in this context the researcher will be analyzing the benefits of product promotion strategies in supermarkets. Marketing strategies help an organization to build, communicate and deliver value to ultimate target customers with the help of tools like product, price, promotion, and distribution. The significance of promotional strategy is that it enables marketers to assess about the most effective communication method that involves various factors like advertising, personal selling, sales promotional activities and public relations.

Promotion is a vital marketing force that provides an additional incentive to customers and other different influential groups. It is one of the major activities in the marketing activities of a packaged product. It is generally short-term in nature and affects directly sales. Promotional strategy is the function of communicating, influencing and persuading in the decision-making process of customers. These strategies are important to profit-oriented to non-profit organizations as well.

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List about 10 academic sources that you identified for your literature review

1. Employee perceived training effectiveness relationship to employee attitudes, Alexandros G. Sahinidis, "Employee perceived training effectiveness relationship to employee attitudes", Journal of European Industrial Training.
2. Leveraging potential benefits of augmentation in employee
Training: "Leveraging potential benefits of augmentation in employee training", Industrial And Commercial Training.
3. Industrial and Commercial Training: Jeremy Tipper, (2004), "How to increase diversity through your recruitment practices"
4. Customer satisfaction: Rade B. Vukmir, "Customer satisfaction", International Journal of Health Care Quality Assurance
5. The case for customer satisfaction: Chris Taylor, (1995), "The case for customer satisfaction", Managing Service Quality
6. A comparison of question scales used for measuring customer satisfaction: Peter J. Danaher, Vanessa Haddrell, "A comparison of question scales used for measuring customer satisfaction", International Journal of Service Industry Management.
7. Making Customer Satisfaction Happen: R.M. McNealy,( 1998) a strategy for delighting customers, page
8. Marketing Strategy-Performance Relationship: An Investigation of the Empirical Link in Export Market Ventures: Cavusgil and Zou, “Marketing Strategy-Performance Relationship: An Investigation of the Empirical Link in Export Market Ventures.” Journal of Marketing.
9. Product and Promotion Adaptation in Export Ventures: An Empirical Investigation: Cavusgil and Naidu, (1993), “Product and Promotion Adaptation in Export Ventures: An Empirical Investigation.” Journal of International Business Studies.
10. The Effects of Retailer and Consumer Response on Optimal Manufacturer Advertising and Trade Promotion Strategies: Neslin, Powell, and Stone, “The Effects of Retailer and Consumer Response on Optimal Manufacturer Advertising and Trade Promotion Strategies.

Have you identified a gap or an under-researched area in the literature?

By reviewing the existing data and past scholarly articles it was found that various product promotional strategies carry huge significance in the area of marketing-related activities. A gap was observed that some of the corporations focus on the four P's of marketing, especially on product related that it can achieve their goals in a much more convenient manner.

List your research questions or objectives

A promotional strategy could be used to reach the selected market and differentiate the product. It is one of the elements of the marketing mix and defines a wide range of activities that include increasing the level of sales, recognition of the new product, and building up brand equity, positioning, and corporate image. In this lieu some of the objectives for this research report are as follows;

  • To assess the benefits of customer satisfaction in cooperative supermarkets.
  • To analyze the main factors that help in the development of a product in supermarkets.
  • Finding out the new measures that can be undertaken by the supermarket industry to improve the degree of product promotion strategies.

In a supermarket, for promotional activities, the product manager selects ways from an array of sales promotional activities and assures that they receive the kind of product from manufacturers that meet the needs of their store.

Which research methods are you going to use to answer the research questions?

Using Secondary sources is recommended as you do not have the time or the number of words to collect and analyse meaningful primary data. Secondary data analysis is as difficult as the primary data analysis but rather different. If you do not know the difference please make sure you read about it. The project is our chance to assess the knowledge and skills you obtained during a three-year degree and self-learning capability is an important one of these skills.

In order to accumulate a valid result the researcher would be performing primary as well as secondary research to gain insights about the topic. Primary research will be undertaken by researchers in the supermarket Tesco and will try to analyze the principles followed by this organization for its product promotion and recommend some newer methods to it. For secondary research existing and past data would be reviewed to understand the concept and get a vivid image about the area of research.

How might you go about analysing your data?

Customer satisfaction and its impacts on customer perceptions related data will be analysed through SERVQUAL instruments, a rating instrument.

Despite that, I can collect secondary data through books, the internet and journals to address the concepts and theories related to the project.

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What do you hope to find?

By accomplishing this survey it is expected that new insight into marketing strategies and the importance of product promotion will be assessed in this process. Product promotion is particularly a very important feature in supermarkets, where a prevalence of analogous products leaves little space to distinguish a product from the other items. In most packaged products, the majority of retail sales could be linked to some or the other form, especially in the food retail sector where the link is high. In this context, many of the researchers have proved that nearly 80% of purchase decisions in supermarkets are unplanned and are mostly made on the basis of situational factors that have a strong influence on the decision-making process.

List the limitations of your research

While carrying out this research report some of the limitations may arise like problems with the limited time period to perform the research will act as a hindrance. Other than this support from the respondents and the cost involved in the process may act as a limitation.

How are you going to deal with the limitations which you have identified?

The identified limitations would be overcome with the help of some of my friends and mentors and would also ask the management to support in the process.

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