Monday, February 27, 2012

Final Project: Promotion

Promotional sales can and have to be looked at in every different way. We are not in the business of losing money but sometimes you have to just get your product out there. Regardless if you are selling music or food, if the product is good, the customers will come. If you own a restaurant in a city of 1 million people, and you have one location, as long as your food is great, and your service is exceptional, people will come, regardless of where you are located.
In the beginning, there will be 108 Ben & Jerry's store carrying our product nationally. As our promotional offer the first week of introduction, Ben & Jerry will offer 1 free serving of our product per person. "Several factors have contributed to the rapid growth of sales promotion, particularly in consumer markets. First, inside the company, product managers face greater pressures to increase their current sales, and promotion is viewed as an effective short-run sales tool." Marketing: An Intro, Armstrong/Kotler, page 432. This promotion will only last for the first week to get the word out. The people that try the product will of course tell their family and friends, "Hey, this was great! Try it." or  "Hey, I don't think it's that great." But then again, America loves Ben & Jerry Ice cream and I personally do not think there is one flavor on their line of products that I would not devour in a second. People love Ben & Jerry Ice Cream so much that simply having our product in their stores tells customers, "This is Ben & Jerry, it has to be good." "In most co-branding situations, one company licenses another company’s well-known brand to use in combination with its own. Co-branding offers many advantages. Because each brand dominates in a different category, the combined brands create broader consumer appeal and greater brand equity. Co-branding also allows a company to expand its existing brand into a category it might otherwise have difficulty entering alone." Marketing: An Intro, Armstrong/Kotler, page 234.

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