Quality product owners should ensure their marketing

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quality product, owners should ensure their marketing efforts, the product’s packaging and the store’sdécor all combine to support the premium pricePricing for Market Penetration:Penetration strategies aim to attract buyers by offering lower prices ongoods and services. While many new companies use this technique to draw attention away from theircompetition, penetration pricing does tend to result in an initial loss of income for the business.
9. Describe three types of promotional strategy that a business could use.
Page 9BSBMKG502 Establish and adjust the marketing mix
APINYA PIMTHONGID: 20180089Budget – how much are you willing to investPlan of action – what strategy are you adopting in order to reach your purpose and make aprofit.Explore Social Media and Email Marketing:Find the right social media platform for your brand and takeadvantage of everything it has to offer. Communicate with your audience online. Social media is a greatmediator between your potential customers and your brand. Moreover, it comes with a touch ofpersonal feeling. Email marketing can be part of an inbound promotion strategy, as well as an outboundpromotion strategy example. It is up to you on how you want to use it. Inbound email marketing focuseson building a relationship with the reader, instead of spamming them with selling emails. An inboundemail marketing strategy promotion plan should keep count of a few things such as the value of themessage and timing.Sponsor Events for Customer Experience:Sponsorships and inbound marketing go together like thehorse and carriage. But there is a fine line between event sponsorship being outbound or inbound. Themain difference is that outbound sponsorships usually chase attendees down in order to make them buy,while inbound sponsorship focuses on providing attendees with quality information, valuable content,and customer experience. Thus, aiming for building a long-lasting relationship.Free Samples, Sales Coupons & Promotions to Boost Sales:Discounts are everywhere and people lovethat. Whether it takes the form of a free sample, a coupon or a promotion, sales can actually be a greatexample of an inbound marketing strategy for a product. However, inbound sales aim for somethingmore than just a simple purchase. When it comes to inbound/pull marketing, it shouldn’t just a onetimefling, but a long lasting serious relationship10. Describe the three types of distribution strategy

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Term
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Marketing, Apinya Pimthong

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