MCom 2nd Year Methods Of Product Promotion Study Material Notes
MCom 2nd Year Methods Of Product Promotion Study Material Notes: In this post, we will learn about MCom 2nd Year Methods Of Product Promotion Study Material Notes. In MCom 2nd Year there is one of the most important questions comes from Promotion. Here, You will learn about Chapter Wise or Topic Wise MCom 2nd Year Methods Of Product Promotion Study Material Notes and Long or Short type Question Answers with Practice Sets.
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METHODS OF PRODUCT PROMOTION
The methods of product promotion are as under:
(ii) Personal selling
(iii) Direct mail
(iv) Sale literature
(vi) Word of mouth communication
(vii) Fairs and exhibitions
MEANING OF ADVERTISING
Advertising plays a crucial role in international marketing tools to spread abroad ideas and information regarding products or services to persuade the action in accordance with the eager attention of the advertiser or advertising refers to the corporate sponsored messages transmitted through the mass media. (MCom 2nd Year Methods Of Product Promotion Study Material Notes)
The sales goals may be achieved easily by a successful advertising campaign. Indeed, more and more companies make a heavy amount to advertisement successful. A successful advertisement requires to make profitable international operations.
For example- Global advertising expenditures were estimated to be $335 billion in 1998 and projected to increase to $362 billion by 2002. (MCom 2nd Year Methods Of Product Promotion Study Material Notes)
In the words of William J. Stanton, “Advertising consists of all the activities. involved in presenting things before to an audience, i.e., a non-personal, sponsor identified, paid for a message about a product or organization”.
Advertising is also explained as the promotion and presentation of ideas that are non-personal, and goods and services are provided by identified sponsors. The presented and disseminated idea is called ‘advertisement! A successful advertisement is not possible without some activities. It may not called completed without those activities because those performances are necessary to prepare the advertisement. Those activities are an integral part of advertisement they make it complete and enable to serve the people.
FEATURES OF INTERNATIONAL ADVERTISING
According to American Marketing Association, “Any paid form of nonpersonal presentation and promotion of ideas, goods, and services of an identified sponsor”.
On the basis of the above definition, advertising has the following features:
1. Advertising is a Paid form of Communication. Advertiser presents their advertisement in newspapers, magazines, cinema screens, and televisions. He may present the advertisement in these sources by purchasing some space or time in those sources.
2. International Advertisement is a Non-personal Presentation of an Idea. In international marketing, it is not possible to establish a direct relationship or face-to-face contact with foreign customers. So, it is explained as non-personal salesmanship. The foreign customers are related to various countries and it is not possible to present products and promote ideas, to them personally.
3. The Purpose of International Advertising. The objective of international advertising is to provide information about the products and services of a business to foreign customers. Advertising helps to increase overseas sales.
4. International Advertisement is issued by an Identified Sponsor. Non-disclosure of the name of the sponsor in ideas spreads for such a purpose may cause twist-out no normal shape, fraud, and manipulation. So, 10 is necessary to sponsor must be identified.
OBJECTIVES OF INTERNATIONAL ADVERTISING
An advertisement is made to sell the product market. The main objective of the advertising is to increase the sales in foreign markets. Other objectives of international advertising are as under:
(i) Advertising creates a craze for the product in the foreign market. This interest in introducing a new product. Because foreign customers ar already aware of this product through advertising. Thus, the objective of international advertising is to introduce a new product by creating interest for it among foreign customers.
(ii) Some companies use door-to-door selling or personnel selling. They do not have a retail shop. If a customer want to purchase the product of that company, he can contact to office and salesman will deliver the product. Foreign customers come to know about that product through advertisement. Such as Eureka Forbes.
(iii)The advertisement works as a magnate to attract foreign or domestic customers toward a product or service.
(IV) As we know it is very hard to establish ourselves in the market because of fierce competition on a global scale. An exporter competes with foreign competitors through successful advertising. Advertising helps to fight competition and increase international sales. (MCom 2nd Year Methods Of Product Promotion Study Material Notes)
(V) Advertisement provides true information about a product or service. The true information increases the goodwill of enterprises because enterprises do as promised in advertisements for providing better quality.
(vi) International advertising also helps to minimize the fear of selling the product in a foreign market. Advertisement spread the message about the new products among foreign customers. Advertising also supports the dealers in selling the product in the global market. (MCom 2nd Year Methods Of Product Promotion Study Material Notes)
FUNCTIONS OF INTERNATIONAL ADVERTISING
Advertising is a very important part of international marketing. It performs the following functions :
1. Sales Promotion. Advertising provide information about the new product to foreign customers. More people purchase the introducing product by attracting advertisement and it promote sales. A good advertising campaign helpful in inäking or increasing new customers both home and host country.
2. Introduction of New Product. Advertising is very helpful in introduction of new product or service in foreign and domestic countries. Advertising may also introduce a business enterprise to the public. Without advertising it is not possible to make a position in global market. Specially a new enterprise can not expend his business without the help of advertising. Because advertising enables quick publicity in international market. (MCom 2nd Year Methods Of Product Promotion Study Material Notes)
3. Making of Good Public Image. Advertising creates a good image of producer or seller. Even, though there are seven al competitors present in the market. Advertising enables an enterprise to communicate its achievements in an effort to fulfill customers’ needs. Which firm does so increase the goodwill and reputation of its own. Good reputation and image are very useful to fight competition.
4. Mass Production. Advertising facilitates large-scale pardons. Advertising makes a firm enable to determine the quantity that may be called mass production and it reduces the per unit cost of products and optimum use of limited economical resources.
5. Research and Development. Research and development activities are more active in international advertising. Advertising has become a tool of competitive marketing. Advertising helps a firm to differentiate the product from every substitute firm. To make their product unique business firm do more and more research. Researches and development help to introduce new products in the global market and make necessary changes and improvements.
6. Knowledge of Customers. Advertising provide necessary information to increase the knowledge of consumers about product. Advertising is a source of gaining knowledge or widening knowledge about the use of new products. People are unable to use new products and giving up old ones. (MCom 2nd Year Methods Of Product Promotion Study Material Notes)
For example: Kellog’s corn flakes and maggie noodles are good examples of using new product world wide. Customer’s use Kellogs because this is healthy and nourishing. Customers gain the knowledge about these products through advertising.
Advertising is a very helpful in the modern era. A country can sell its products in other countries successfully through advertisement.