MKT 220 Module 7 Homework Assignment
Running head: MODULE 7 CHECK YOUR UNDERSTANDING
MODULE 7 CHECK YOUR UNDERSTANDING
King of the South
University
Author Note
This paper was prepared for MKT 220, MODULE 7 CHECK YOUR UNDERSTANDING taught by PROFESSOR K
December 22nd,
Directions: Please answer each of the following questions and provide examples from the text, if applicable. Each response should be written in complete sentences and be at least 1-2 paragraphs in length.
1. What is a promotional strategy? Explain the concept of a competitive (differential) advantage in relation to promotional strategy.
Promotional strategy is the way a company or business goes about choosing the most appropriate mix of personal selling, advertising, sales promotion, and public relations. Its main function is to convince its target market that the goods and services it offers provide a competitive advantage over its competitors. Competitive advantage as explained by Lamb, Hair, and McDaniel, “is the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition,” (p.472). This explanation sufficiently explains the relation between promotional strategy and competitive advantage
2. How do the different stages of the AIDA concept of consumer involvement affect the promotional mix?
The different stages of the AIDA (Attention, Interest, Desire, and Action) concept of consumer involvement affect the promotional mix by the sales person being more affective at creating customer interest for goods and/ or services and at creating desire. A good example of this is the success of the iPod by Apple as explained by Hair, Lamb, and McDaniel where the iPod, with each step of its innovation regenerated the cycle of attention, desire, interest, and action by consumers (p.484). Another way that the AIDA concept can affect promotional mix is by using public relations. In doing so, a business stands to gain or attract
MODULE 7 CHECK YOUR UNDERSTANDING
King of the South
University
Author Note
This paper was prepared for MKT 220, MODULE 7 CHECK YOUR UNDERSTANDING taught by PROFESSOR K
December 22nd,
Directions: Please answer each of the following questions and provide examples from the text, if applicable. Each response should be written in complete sentences and be at least 1-2 paragraphs in length.
1. What is a promotional strategy? Explain the concept of a competitive (differential) advantage in relation to promotional strategy.
Promotional strategy is the way a company or business goes about choosing the most appropriate mix of personal selling, advertising, sales promotion, and public relations. Its main function is to convince its target market that the goods and services it offers provide a competitive advantage over its competitors. Competitive advantage as explained by Lamb, Hair, and McDaniel, “is the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition,” (p.472). This explanation sufficiently explains the relation between promotional strategy and competitive advantage
2. How do the different stages of the AIDA concept of consumer involvement affect the promotional mix?
The different stages of the AIDA (Attention, Interest, Desire, and Action) concept of consumer involvement affect the promotional mix by the sales person being more affective at creating customer interest for goods and/ or services and at creating desire. A good example of this is the success of the iPod by Apple as explained by Hair, Lamb, and McDaniel where the iPod, with each step of its innovation regenerated the cycle of attention, desire, interest, and action by consumers (p.484). Another way that the AIDA concept can affect promotional mix is by using public relations. In doing so, a business stands to gain or attract