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As a result of this simulation

As a result of this simulation - promotion objectives I...

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Yolanda Beavers Marketing Management Simulation 2 1. As a result of this simulation, what did you personally learn about Promotional considerations? As a result of this simulation, I learned that it is best to only promote what the target market wants and needs. It is very important to develop promotions around what will be mainly attractive to the largest segment of the market. I also learned that in order to reduce the costs or the liability of a promotion it is best to understand the barriers that a consumer may face. Most importantly, I learned that the developing a promotional plan requires strategic thinking and lots of creativity. 2. What did you learn about YOUR thinking as you went back and made repeated attempts to come up with the more "appropriate" response? I learned that it is best to develop alternative promotion when implementing a promotion strategy. Repeating the steps also enabled me to understand how to develop more
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Unformatted text preview: promotion objectives. I also learned that in repeating the simulation, I was able to review the problems and opportunities of the promotion. This was useful because it provided me with an insight and new ideals as to what direction I would pursue in developing my promotion strategies. 3. What two primary concepts was the Simulation trying to demonstrate? One primary concept that I thought this simulation was trying to demonstrate was that marketers should not just think about promotion, but consumer communication. In order to do this, marketers must respond to the target’s markets media practices. It is this response that enables them to communicate with consumers and allows them to build a brand image. The other concept was that of Positioning. I learned that positioning of your product plays an important role in the final price decision. Price is an important promotional tool and is used as a customer incentive....
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