Assess why a mix of promotional strategies is important in the marketing of goods and service. 4 Promotional Strategies
-Public Relations… Publicity
(hand in hand with eachother to make marketing effecting)
Development of long-term relationships through incentive with individual customers: The ultimate aim of relationship marketing is to create customer loyalty by meeting the needs of a customer on an individual basis, therefore creating reasons for customers to keep coming back. CASE EXAMPLE
Loyalty programs such as the Woolworths Everyday Rewards and Coles Fly Buys Loyalty reward program scheme help maintain a customer relationship. This highly successful marketing strategy was introduced during the early 1990s by the Coles Fly Buys program and was followed in 2007 by the Woolworths Everyday Reward scheme. These schemes offer rewards to those loyal customers who spend specified amounts of make repeat purchases. Qantas is another company who focus’ strongly on relationship marketing, with their ‘The Qantas Frequent Flyer Scheme’. Members can gain points by flying with Qantas or its partners, such as Woolworths. HOW IT RELATES TO QUESTION
Relationship marketing can provide a business with a competitive advantage. Relationship marketing also improves profitability.
Sales promotion is the use of activities or materials as direct incentives to customers. It aims to –entice new customers- encourage new products and increase sales to existing customers and repeat sales. Sales promotion techniques are used to increase the effectiveness of other promotion activities, eg advertising. CASE EXAMPLE
Example of sales promotions include:
Free gifts e.g. Subway gave away a card with six spaces for stickers with each sandwich purchase. Once the card was full the consumer was given a free sandwich....