P2- Understand the Role of Promotion Within the Marketing Mix

In: Business and Management

Submitted By raman345
Words 1382
Pages 6
The role of promotion in the marketing mix is of special attention for anyone who wants to make sure the right consumers are reached, using the forms of media advertising that are most likely to connect with buyers and ultimately generate a high volume of sales.
Promotions such as television, radio and magazine advertising increase brand awareness. More people tend to learn about a particular company or its brands if they frequently see or hear about them. New companies particularly have to advertise to apprise consumers who they are and what they offer. This is true with local or even national companies, as brand awareness can be measured by market, regionally or nationally. It can take many months or even years for companies to build brand awareness levels that match established competitors.
New product development
When Sainsbury are thinking of developing a new product they need to consider the 8 stages referred to as the new product development process.
The 1st stage is idea generation: Sainsbury need to make sure there ideas come from somewhere. Sainsbury get there new ideas from market research by maybe asking people directly by doing surveys to see what their needs and wants are. They also may ask their employees as they are the ones that would know the most about what products customers are wanting or what products the business may benefit from. They also may ask there consultants, community, customers and also there distributors and suppliers. Sainsbury may also look at what is working well for their competitors for example Tesco, Asda this may give them an idea of what product they should develop.
The second stage is idea screening: this is where Sainsbury would be shifting through the ideas above and selecting the ones which are feasible and workable to develop. Also pursing non feasible ideas can be expensive for Sainsbury.
The 3rd stage is…...

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