The purpose of this learning challenge is to:
- Identify and analyze the use cost-effective marketing communications and promotional techniques and tools for this product, and throughout its lifecycle.
- Document and share your learning experience by posting a blog entry.
- Learn from your peers regarding effective promotional techniques they would use for this product.
Value of this exercise
You may have heard the phrase: “If a tree falls in the forest and no one was there to hear it, did it really make a noise? For marketers, it’s important to create awareness and visibility in the marketplace, that their product exists in the first place. Then, their job is to communicate and promote its existence, by driving customers with a ‘call to action’ that encourages them to buy. This could be a value-added promotion (i.e., buy $100, get a free pair of $20 socks; $25 off, in you spend $100; free shipping, etc.); a time-limited promotion; a price discount; or, a special offer only available through the website and more. Promotions are only limited by the marketer’s imagination and budget – and require ongoing monitoring and evaluation to ensure they are successful, generating sales revenues (minus the expense of the promotion), and a positive return on investment.
Challenge summary
During this challenge you will write a blog post on your WordPress blog, and respond substantively to at least two (2) of your peers.
Start here
Stimulus resources
Review the previously assigned readings and the following supplemental resources:
Purpose
The purpose of this learning challenge is to:
Value of this exercise
You may have heard the phrase: “If a tree falls in the forest and no one was there to hear it, did it really make a noise? For marketers, it’s important to create awareness and visibility in the marketplace, that their product exists in the first place. Then, their job is to communicate and promote its existence, by driving customers with a ‘call to action’ that encourages them to buy. This could be a value-added promotion (i.e., buy $100, get a free pair of $20 socks; $25 off, in you spend $100; free shipping, etc.); a time-limited promotion; a price discount; or, a special offer only available through the website and more. Promotions are only limited by the marketer’s imagination and budget – and require ongoing monitoring and evaluation to ensure they are successful, generating sales revenues (minus the expense of the promotion), and a positive return on investment.
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