Assignment 3: Promotional and Advertising Strategies Essay

1743 Words Aug 23rd, 2014 7 Pages
WEEK 9, Assignment 3: Promotional and Advertising Strategies

Course: Contemporary Business

Date: March 1, 2014

The automotive industry has had its share of high and low moments. As the economy takes a tumble, automobile manufacturers feel the impact of that tumble. However, when things are going good with the economy, the demand for a new, innovative, reliable, and efficient vehicle becomes a booming business. But a good economy doesn’t always guarantee success. What additional steps must a company take? The answer is simple. A company must scan its market and prepare a marketing strategy that appeals to that intended market. For some companies, it takes a tremendous amount of
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Coupons are great in the sense that it allows customers to get a discount on some of their favorite items from food, clothing, to other personal items. The downside to coupons is that customers will begin to rely on the amount of money that they are saving and not actually showing loyalty to the brand in which they are purchasing. Also, when a company is consistently putting their items on sale, a customer could begin to follow the trend and versus buying it the regular price, they would wait until the sale happens to get it at a cheaper price. This could potentially diminish the amount of cash flow coming into the actual company. To assist the company in the long run, I would definitely suggest using coupons around periods that are not holidays and doing more product samples to attract potential customers. These are my suggestions because more revenue is brought into the company around holidays so maximizing the profit of the company would be an excellent idea. As far as the samples are concerned, there is a potential to attract the customers if you provide them with a sample beforehand. “Three of every four consumers who receive samples with try them.”5 This gives companies a greater advantage and provides the potential to garner more revenue and a larger customer base. Pricing decisions are typically made using one or all of the four pricing

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