The target market refers to a group of individuals a communication process of an organization is explicitly trying to reach. It is an essential concept involved in business marketing approaches, where firms attempt to augment their market share by employing alluring ways unswervingly to certain kinds of clients founded on demographics (Lamb & Hair, 2018). By choosing a target market, organizations choose the proper channels used in communicating with the customers; hence they can focus on a specific channel. For example, online communications work better with young generations using computers daily. The target market helps in enabling understanding because businesses can construct communications reaching the customers with the intended meaning of the message. Understanding cultures, languages, as well as nonverbal cues employed by clients, will help in understanding the best communication channels to use. Additionally, a deeper understanding of the target markets enables in understanding what these people feel about the organization’s values and norms and in this case, they can communicate in ways that their audience can easily understand as well as identify with them.
Question 2
Persuasive promotion is essentially employed in building customer loyalty for their product(s) during their growth stage in a life cycle of a product. In product development, at this point, the organization’s target market is alert about the features and benefits the product will be delivered. As a result, the promotional focus on shifting from informing to coaxing the clients (Lamb & Hair, 2018). When dealing with extremely competitive and mature categories of products like shoes, persuasive promotion is also very essential. It is because the promotional messages at this stage accentuate both real and perceived competitive advantages of the product, often appealing to clients’ emotional needs like ego and self-confidence. For example, athlete-shoe making companies often try to influence their clients to buy products by engaging prominent sportspersons like Eliud Kipchoge and the late Kobe Bryant in promoting their products.
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Question 3
Trade promotions assist in pushing the product(s) through the delivery channel. The main form of trade sales promotion includes: using push money, training, offering free merchandise, store demonstrations and use of corporate meetings, convections as well as trade shows (Lamb & Hair, 2018). Out of these, the most appealing for use in a grocery store by a manager is offering trade allowance, since they frequently buy large quantities and their margin of profit is very low it would augment their profit. On the other hand, for electronics chain managers using training as a sales trade promotion would be the best choice because training their clients will help them in understanding the products they are selling to them.
Question 4
Consumer sales promotion tools include rebates and coupons, sweepstakes and contests, premiums, sampling, loyalty programs of marketing, and point of purchase displays (Lamb & Hair, 2018). Coupons involve giving out certificates allowing the clients to have an immediate reduction of prices upon purchasing products and services. It influences me to purchase more since I am guaranteed of price reductions. Rebates allow price reduction to clients though not immediate; customers have to mail rebate forms with purchase proof. It influences me to buy because, after the approval, I can always buy more with reduced prices. Premiums offer extra items or incentives to customers after buying products and services. It influences me to buy because the more I buy products, the more incentives or free products I will get, and it encourages one to use products or services they previously were not using. Loyalty programs are operative in building long-lasting, equally valuable relationships amid essential clients and the organization. By being rewarded always encourages one to buy or continue buying from the same company. Sweepstakes and contests are designed in the way of creating interests, thus encouraging brand switching brands. Sampling is employed in gaining new customers to try new products; through this, a company gets new clients for their new product. Lastly, point-of-purchase exhibits setups where the retailer is located as a way of building traffic, advertising, and hence inducing impulse buying. Great advertisements influence me to try new products; hence point-of-purchase influences me to try to buy and try new products.
References
Lamb, C., & Hair, J. M. (2018). MKTG12 Principals of Marketing (12 ed.). Cengage Learning.
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