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In this research report we will be accomplishing a survey in the area of marketing strategies, in this context the researcher would be analyzing the benefits of product promotion strategies in supermarkets. Marketing strategies helps an organization to build, communicate and deliver the 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 on the 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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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.
By reviewing the existing data and past scholarly articles it was being found that various product promotional strategies carries huge significance in the area of marketing related activities. A gap was being observed that some of the corporate if focuses on four P’s of marketing and especially on product related than it can achieve its goals in a much convenient manner.
A promotional strategy could be used to reach up to the selected market and differentiate the product. It is one of the elements of 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;
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.
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 a primary as well as secondary research to gain insights about the topic. A primary research would be undertaken by researcher in the supermarket Tesco, and would 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.
Customer satisfaction and its impacts on customer perceptions related data will be analyse through SERVQUAL instruments, a rating instrument.
Despite that I can collect secondary data through books, internet and journal to address the concept and theories related to the project.
By accomplishing this survey it is being expected that a new insight about marketing strategies and importance of product promotion would be assessed in this process. Product promotion is particularly a very important feature in supermarkets, where a prevalence of analogous product leaves little space to distinguish a product from the other items. In most of packaged products, 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 researches have proved that nearly 80% of purchase decision in supermarkets are unplanned and are mostly made on the basis of situational factors that have a strong influence in the decision making process.
While carrying out this research report some of the limitations may arise like problem with limited time period to perform the research will act as a hindrance. Other than this support from the respondents and cost involved in the process may act as a limitation.
The identified limitations would be overcome with the help of some of friends and mentors and would also ask the management to support in the process.
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