By Michael Armstrong
Designed for simple reference, this significant other for managers and scholars incorporates a diversity of attempted and validated instruments along new administration concepts which were constructed within the fresh previous. summary: Designed for simple reference, this significant other for managers and scholars includes a diversity of attempted and proven instruments along new administration concepts which were built within the contemporary prior
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The perceived value of offering one item free if four items are purchased may have a greater impact than a 20 per cent discount offered over the whole five purchases. Promotional pricing Promotional pricing is a method of clearing excess stocks or generating high-volume sales by offering large discounts. Retailers buy in special stocks to benefit from extra sales over limited periods. COMPETITOR-RELATED PRICING SYSTEMS Competitor-related pricing systems fix prices by reference to the going rate – the level of competitors’ prices.
DISTRIBUTION STRATEGY The amount of market exposure required by companies formulates channel policy and the choice of channel strategy will depend on: ᔢ ᔢ ᔢ ᔢ the nature of the product or service; the technical complexity of the product; its servicing arrangements; the image the company wishes to portray to consumers. Three distribution strategies can be identified: ᔢ Intensive distribution is used by fast-moving consumer goods (FMCG) manufacturers and convenience goods manufacturers, some raw materials producers and sometimes ‘white’ (for example, refrigerators) and ‘brown’ (for example, furniture) goods manufacturers, whose aim is to stock their products in the maximum number of outlets.
Which medium or media mix is required to ensure optimum communication of the advertising? ᔢ What is the weight of advertising required in each medium from both a communication and a competitive point of view? 4. Buying – using negotiating skill, research backup and ‘muscle’ to negotiate the best terms with the media. 5. Evaluating. There is no simple method of measuring the effectiveness of an advertising campaign except, of course, indirect response where coupons and orders can be counted. In this field, ‘split-run’ tests can be run in certain media where different offers or styles are tested in alternate (A or B) copies and the results can be compared directly.
A handbook of management techniques : a comprehensive guide to achieving managerial excellence and improved decision making by Michael Armstrong