Promotional Decisions

• Why might a fashion product like Hugo Boss require less information in promotions?

  How the product looks is more important
• What is the promotional mix?

  The combination of different promotional methods
• What market condition affects the importance of advertising?

  The rate of market growth
• How can informing consumers create new sales?

  By making them aware of products
• What occurs in a fast-growing market?

  Businesses spend more on advertising
• Why is reminding existing customers important?

  It can increase sales from each customer
• How do competitor actions influence promotional decisions?

  Businesses may use the same channels as rivals
• What are the main reasons for promotion in businesses?

  1. To create or increase sales
  2. To inform/remind customers about a product
  3. To persuade customers to buy the product
  4. To create or change the image of a product
• How might a brand use the promotional mix?

  Through TV, social media, and sponsorships
• What happens if a market is growing slowly?

  Advertising may be less important
• Why can't a business sell a product if consumers are unaware of it?

  They need to inform their target market
• How does the target market affect promotional methods?

  Different people use different platforms
• Why would a business producing women's underwear not target middle-aged men?

  They want to promote to potential customers
• When is it particularly important to remind customers?

  Before short sale windows like Christmas
• What is key to effective promotion timing?

  Reminding customers at the right time
• How do promotions persuade customers to buy a product?

  By advertising the benefits of the product
• How can a promotion change the image of a product?

  By influencing customer perception through marketing
• Who did Under Armour sponsor to create a youthful image?

  Nike Jordan Spieth
• What impact can a promotion have on customer perception?

  It can help change how customers see a product