Question 1: What is a promotional strategy?

Explain the concept of a competitive

advantage in relation to promotional strategy.

Answer: The purpose of a promotional strategy is to remind consumers, vendors, shareholders,

or the broader public of the over-sized or true attributes of the item being marketed.

Promoting, marketing, and selling items are all done through promotional tactics. Considerations
such as product kind, marketing budget, target audience, and other factors influence a company's
advertising approach. It's an important strategy for boosting product awareness and, as a result,
sales. A successful advertising campaign creates higher sales as compared to marketing
spending.

Any company that sells or offers a service must market it. People will only be aware of the
product if it is promoted. They would only consider purchasing if they had additional
information about the product. Because there are so many businesses and brands competing for
the same consumers' attention, advertising and marketing are essential strategies for
distinguishing and recognizing each brand.

Brands that aim to increase their sales, produce greater turnover, build brand equity, and recall
their goods and businesses use promotional methods. Promotion tactics have a wide range of
applications and may be applied in a variety of ways to achieve different goals. The best thing
about promotions is how adaptable they are.

Explain the concept of a competitive advantage in relation to promotional strategy :

Consumers get a competitive edge by receiving value-added items at lower costs or by receiving
extra accessories and services at a higher price. Publicity, sales, sales, and public relations are the
most common forms of advertising. In light of the core of the specific product, each is a more or
less acceptable technique to gain a competitive edge.

The competitive environment is generally divided into two categories: Differentiation

competition and market rivalry (big volumes and low cost). It is unlikely that the product will be
distinguished by a factor of nearly zero; however, as consumers become more sophisticated and
complex, they are increasingly relying on advertising and public relations strategies, so I do not
report sending my property at a lower price than my competitor, but my product does differ. As a
result, my product stands apart. The same can be said for sales and promotional firms,
demonstrations, and instructional suppliers, all of which are centered on differentiation. The
implication is that the purpose of adopting promotional strategy is to get a comfortable
competitive edge, and this is the reason behind it.

One of the most critical variables in a company's or brand's ability to outperform its competitors
is its competitive advantage. A corporation can attain better margins than its competitors.
Competitive advantage plays a larger role in the creation of corporate value. It is via the
development of fundamental strengths and conditions, as well as company long-term viability.

Advantage in the marketplace

The greater the competitive advantage, the more difficult it is to counteract it. Companies with
competitive advantages demonstrate their efficiency by having no additional gain over other
players. Competitive advantages, on the other hand, aren't confined to businesses or businesses.

Individuals, as well as under-the-radar nations, are linked to it. Individual career advancements
in certain nations are aided by comparative advantages.

Question 2: Shadow a salesperson for a day and talk about how his or her activities
integrate with other promotional elements used by their firm. How does the salesperson set
objectives?

Answer: Personal selling is the process of informing and persuading customers to buy a product.
Personal sales have recently been altered to include online sales training and automated sales
tools. National averages and other automatic weighing algorithms are used to set sales targets.
Salespeople no longer have much influence over their sales and contact targets.

Salespeople do participate in marketing in many firms by generating promotional materials, such

as emails and brochures, that customize the entire IMC to the requirements of particular
consumers.

Question 3: How a salesperson made aware of the firm's overall IMC strategy? Does the
sales force participate in planning marketing or promotional activities?

Answer: Integrated marketing communications, or the strategic use of Promotions to unify a

product sales message, is referred to by the abbreviation IMC. The aim is to increase the number
of connections made and the percentage of those contacts who are persuaded to purchase.
Emails, staff meetings, phone calls, and other communications from Management may inform a
salesman of that plan.

Personal selling, or a one-on-one dialogue between a salesman and a consumer, is an attempt to

educate and persuade a customer to purchase a certain product. In personal sales, automated sales
approaches and online sales training have lately been adopted. As a result, sales targets are
calculated using national averages and other automated weighting techniques. Salespeople are
finding it increasingly challenging to meet their own sales and contact targets.
The term IMC stands for integrated marketing communications, or the strategic use of
promotions to unify a product's sales pitch. The goal is to reach out to as many individuals as
possible and encourage them to purchase the product or service. Managers may share their sales
strategy with salespeople via e-mail, meetings, phone calls, or other methods.

As part of the IMC, salespeople frequently develop marketing materials, including as emails and
brochures, to target specific consumers or potential purchaser.

Question 4 : What are some of the cultural variables that marketers must considering in
developing advertising and promotional programs in a foreign market?

Answer: The creation of advertising and promotional campaigns for foreign markets is
influenced by cultural characteristics in a variety of ways. When planning an advertising
campaign, advertisers must take into account each society's language, customs, preferences,
attitudes, lifestyle, values, religion, and ethical/moral standards. Marketers' ability to sell
products and services in foreign markets, as well as how they connect with customers, is
influenced by cultural considerations. They must be able to communicate not just in the country's
official language, but also in its nuances, idioms, and nuances. They must also be aware of the
meanings of the words and symbols they employ in their advertisements, as well as how ad text
and slogans will be interpreted. Students should be challenged to locate an example of how a
cultural variable, such as customs, values, or ethical/moral standards, has generated a special
Challenge or difficulty for a corporation in a given nation.

Question 5. What are the differences between a retailers long-term and short-term
promotional objectives?

Answer: The promotional objectives of a store should be set in order to increase both long- and
short-term financial success. The retailer's attempt to earn long-term benefits by marketing the
store itself rather than the items in it is known as long-term or institutional advertising. Long-
term promotion aims for retailers seeking long-term benefits are usually twofold: creating a
favorable shop image and encouraging public service. Short-term or promotional advertising
uses product availability or pricing as a selling element to boost short-term performance.

The following are the two most typical promotional goals:

❖ Current clients' patronage to be increased

❖ Bringing in new consumers