Assignment 8 MKTG.docx - 1 The five promotion mix tools for...

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1. The five promotion mix tools for communicating customer value are advertising, sales promotion, personal selling, public relations, and direct marketing. Advertising is any paid for of non personal presentation and promotion of ideas, goods, and services. Sales promotions are short-term incentives to encourage the purchase of sale of a product or service. Personal selling is personal presentation by the firm’s sales force for the purpose of making sales and building customer relationships. Public relations are building good relationships with the company’s publics by obtaining favorable publicity. Lastly, direct marketing are direct connections with carefully targeted individual consumers to both obtain and immediate response and cultivate lasting consumer relationships. 2. The pull strategy is when a company spends a lot of money on customer advertising and promotions to get consumers to buy the product and create more demand that pulls the product through the channel. Promotion tools that are most affective for the pull strategy would be advertising and consumer promotion. The push strategy is when sales fore and trade promotion are used to push the products through the channels. The promotion tools that are most effective in the push strategy would be trade promotion and personal selling. 3. The common methods for selling total advertising budgets include affordable method, percentage of sales method, competitive method, and objective method. The affordable method is

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