You are a marketing manager for a manufacturer of nonperishable products sold in
ID: 3039973 • Letter: Y
Question
You are a marketing manager for a manufacturer of nonperishable products sold in grocery stores. In this role, you need to make various decisions about how much marketing/advertising support is needed by each product to maximize the profitability of the organization.Assess how the effectiveness of individual marketing/advertising approaches would be determined.Discuss how historical sales data, as well as promotional response data, can aid you in evaluating the effectiveness of the individual marketing/advertising approaches. Support your discussion with relevant examples, research, and rationale.
Explanation / Answer
Answer:
For any producer of any product marketing is the most important step for the selling of his product. Marketing and advertisements provides first hand knowldge about the type and use of product. There are many form to advertise a new product, most commonly used is through celebrity endorsements. The celebrities advertising the product creates a huge impact on the consumer's mind regarding it. There are other forms of marketing as well like social media advertisements, word of mouth etc. People make pages on social media like instagram and facebook to promote the products they are offering.
Historical data plays an important role in production of product as it provides and overview of previous profits and sales of the product. Using the past data consumer behaviour can be understood which can be very helpful in improving the quality and sales for the product.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.