Question

Examine the markets elements that are used to promote marketing activities.
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Answer 1

Elements those are used to promote marketing activities are:

1) Advertising

Under this approach the goods or services of an entity are made known to the people through various media such as newspapers, television etc. It is the most common way used by the entities to reach out to large number of people thereby promoting their marketing activities. This approach is considered to be costly as the entity giving the advertisement has to be paid. These advertisements can be reproduced as and when it is needed.

2) Sales Promotion

Under this approach efforts are made to attract the customers. The customers are provided with discounts, offers, gifts etc. The entity displays its product in shows and exhibitions. Sales promotion activities are usually done for a short period of time. Excessive sales promotions could have a negative impact on the entity.

3) Personal Selling

The possibilites of selling an entity's product is very high under this approach as it involves face to face communication with the buyers. Thus, the sellers would be able to persuade the buyers to buy the product. This approach is considered to be costly but is effective.

4) Strong relationship with public

The entities make every effort to build a strong public image so as to attract and retain not only the customers but also the suppliers , investors, employees, stakeholders and others.

5) Giving Publicity

Under this approach, the entity providing its goods or services try to gain attention by giving interviews, speeches , donations etc. It is considered to be less expensive than advertising approach.