Managing advertising, sales promotion and public relations : what is public relations in marketing?

Correct Answer: We can say that sales promotion is a cost effective technique by which an organisation can achieve its sales volume or the marketing objectives by providing value added product and not just an ordinary product to the end user or even the intermediaries It is short term by nature and is suitable enough for generating sales within a short span of time Sales promotion techniques are being increasingly used by retailing organisations some of which include advertising, providing discounts and allowances or a 'buy one get one free offer' etc

Correct Answer: aDirect interaction with customers: The retailer acts as the final link between the organisation and its customer The retailer knows his customer better than anyone He even suggests the customer what to purchase and allows him credit facilities to encourage frequent buying behaviour in the customer bSmall purchases: The customer purchases goods in small lots from the retail stores So there are frequent visits to the retail store by the customer cInstrument of marketing communication: via which information about the product is disseminated to the needy customers

Correct Answer: Logistics management is the part of supply chain management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customer's requirements

Correct Answer: No problem We can use network marketing as an alternative The company already has its strong network of customers who can spread the word about its products They can encourage referral rewards for say every three customers who will buy our product or avail our service We can also announce a contest for the customers to buy the product and win a chance to get himself broadcasted for the product advertisement We can ask them to send in their photo along with the contest application form which they get alongwith the product they buy So we don?t have to pay them as we would otherwise have to pay to a celebrity

Correct Answer: Depending upon the increase or decrease in price rates, buyers may respond accordingly Some buyers may assume that quality of the product may have reduced to to reduction in price or that the company may not be selling the product as per expectations The other assumption that buyers may make is that prices may go down in the future and so may delay purchase On the other hand increased price may lead to a decrease in demand as the product may be more costly for the consumers who may switch to another seller offering similar products at lower prices

Correct Answer: In direct marketing, there is a direct interaction of the customers with the seller without any intermediaries Here, the role of the intermediaries is nil The medium used is more direct using telephone, mail, internet where the seller can directly reach out to the consumer Examples of such marketing include telemarketing, email, voicemail marketing, door-to-door selling etc This kind of marketing is more time saving as the problem of distance which may otherwise exist between the buyer and seller is eliminated and is also cost effective as it minimizes commuting costs

Correct Answer: Profitability control is a mechanism of monitoring the sales made, profits earned and expenditure incurred by a company The relative profit earning capacity of a firm?s products and consumer groups can be determined via profitability control Sometimes surpisingly, it may be found out by companies how a small proportion of their products and even customers actually account for a significant percentage of the company?s profits This can be achieved through profitability control At times when the companies earn surplus profits, then such profits may even be ploughed back or reinvested This also forms part of profitability control

Correct Answer: The annual plan control is one of the four types of marketing control system Annual plan control is essential in order to determine whether all the marketing efforts undertaken by the organisation has been really worthwhile or not It aims to achieve sales volume,profits and all those objectives which have been set up in the beginning of the year In an organisation,the top management and middle level management are responsible for the annual plan control They have to keep a check on the activities undertaken to implement the plans

Correct Answer: Internal marketing is the process of motivating and empowering the employees of a company to work as a team for the overall well-being of the customers and thereby the company itself This is actually the core to succes of a company A harmonised effort within the company is an utmost necessity to provide customers with services at a desired level If a firm doesn't deliver the service it promises in its marketing campaign, it will fail for sure And it only can keep that promise when all of its employees at all levels realise what actually it is going to deliver

Correct Answer: An up - selling is getting the customer to spend more money, buy a more expensive model of the same type of product, or add features or warranties that relate to the product viewed or purchased A cross - sell is to get the customer to spend more money by adding more products from other categories than the product being viewed or purchased