Promotion for Multimedia Megastore

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                                                                                                                     Matthew Eden

Main Section 1 – Promotion

Introduction

Promotion is one of the four ‘P’s in the marketing mix. It is used to make the product or service you are providing known to the public and also to persuade them to buy the product. Promotion is what the business does to tell the likely customers what products it has for sale, where they can be bought and what benefits there would be to the consumer if he/she buys the product.  

Promotion in a business is used to:

  • Inform a customer about a product on sale in the business
  • Persuade the customer to buy the product
  • Inform the customer on how the product will benefit them

Promotion is classified into two sections: above the line and below the line. Advertising media is an example of above the line promotion and below the line promotion are things like sales promotion and public relations. Advertising is any message that a business portrays about its products or services. There are four reasons why businesses advertise:

  • Awareness of new products
  • Reminding customers about existing products
  • Persuade customers to choose their products instead of another business
  • Improve the image or message that the business shows

Advertising is good for building awareness, effective at reaching a wide audience and repetition of the main brand helps build customer trust. However, it isn’t so good at getting customers to make a final purchasing decision and it cannot answer all the customers’ questions. With Virgin being a main competitor in the market and since advertising is expensive; I would have to make sure that the promotional device I use is very effective to survive in the market.

Sales promotion (below the line promotion) can stimulate quick increases in sales by targeting promotional incentives on certain products which is also a good short term promotional technique. On the other hand, if there is an exceedingly amount of sales promotion, it can damage the brand image. Some examples of sales promotion include: price discounts, coupons/vouchers, gift with purchase, competitions and loyalty incentives.

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Results and Possible Methods

For my business, I will have to make a decision on which method I will use for the promotional service of my business. From the primary data I have collected, I have constructed a graph which shows how the public knows about the Virgin Megastore and its products.

From these results, 30% of the people chose printed media (10 people) and 47% of the people chose broadcast media were the two most popular ways of promotion which helped the people be let known of the Virgin Megastore. ...

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