Reference no: EM131012588
Discussion: Shared Practice: Promotion Plans and Blends
Marketers have many promotional mix elements to choose from and often combine them or blend them to achieve the stated goals. Because of the highly competitive nature of most product and service categories, a marketing plan often requires expenditures that will create awareness, stimulate interest, encourage trial purchase, and even reinforce that purchase decision. Marketers have also found that it is often important to communicate post purchase with buyers to reinforce the decision the buyer has made. Marketers have found ways to help buyers interact with other buyers in constructive ways to ensure that the product or service can offer the best result for that purchase.
For this Shared Practice, select a product or service brand with which you are familiar.
Post by the following:
• A brief description of the product or service brand you chose.
• A description of the target market for the product or service you have selected. Explain the impact of defining the target market on the promotion plan.
• An examination of the concept of promotion blends. Does the brand you chose make use of promotion blends? If so, describe the promotional blends used. If not, propose your ideas for how promotional blends could be used successfully to promote the brand and why. Use examples to support your assessment.
• An explanation of how technology or digital media may be utilized to develop an effective message to the target group you have identified in a blended promotion plan. Explain why the technology or digital media made the message about the chosen product or service brand more effective.
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What should be the company strategy for pricing
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Brief description of the product or service brand you chose
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Hermes - brief history of the brand
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