Free Accounting Dissertations - Each Type Of Product Usually Represents A Specific Section Of The Population
Each type of product usually represents a specific section of the population and advertising is usually adapted to the requirements of this category in order to achieve the promotion of the product. The above are followed also when dealing with the promotion of services. The vital issue in advertising is to create the right image. The use of advertising can with no doubt help the improvement of the sales margins of a product or a type of services. On the other hand we must consider the cost, which is usually high, as well as the risk of the failure (in cases that the method followed and the decisions made were not in accordance with the public view which we have to notice is sometimes difficult to foresee precisely). In order for an advertising to be successful, the most crucial factor is the existence of a well-defined and flexible marketing strategy. And we should notice that the latter has to be first when referring to time sequence. The marketing strategy should be followed the establishment of a firm. This ‘crucial’ time reference can be explained by the importance of this strategy to the creation of profit and, in that way, to the existence of a company. The indicator of the marketing’s success is usually the improvement of sales of products/ services, in other words the increase in number of clients that deal with the company. The decisions made while structuring the marketing strategy have to be based in a detailed and accurate research regarding the existing trend of the market, the financial situation (not precisely stated but in relevant terms) of the majority of people that this product/ service is addressed to and the level of profit of other similar products.
Regarding the formulation of the marketing decision we have to proceed to the following differentiation of the service products according to the typical customer needs, that of frequently or infrequently purchased. Thus, services such as fast food and filling stations that are needed on a daily or weekly basis may be thought of as frequently purchased, while less frequent or unexpected needs characterize services that are infrequently purchased. Highlighting the differences between marketing strategy decisions for frequently and infrequently purchased products, the goods marketing literature provides substantial streams of research comparing packaged goods to consumer durables. Packaged goods marketers have an extensive literature describing models that test the impact of marketing mix variables on customer buying behaviour. Because their goal is typically to build market share through increased repeat purchasing (as opposed to switching) behaviour, they may try to enhance awareness and trial of a new product among their target markets, who will then return for future purchases.
