CUET Entrepreneurship-Chapter-Promotion

(c)

Exp: The marketers use various tools of communication in order to inform and persuade customers about their firm’s products. The combination of these tools, such as advertising, sales promotion, personal selling and publicity is referred as Promotion mix.

(a)

Exp: With the help of advertising, sellers provide adequate information about their products to the consumers. Such information motivates the potential consumers, as a result of which the sale increases.

(a)

Exp: One of the most powerful and popular modes of advertisement is television. It combines the sight and the sound and thus makes a direct impact on the minds of the viewers.

(c)

Exp: One of the recent modes of advertising is through the web network. It is interactive and multimedia based, but is not as powerful and popular as the television. Also, as it is a new medium, its users are very few in number.

(a)

Exp: The lifespan of the newspapers is very short as once the newspaper is read, its value is over. If the advertisement is not seen or overlooked, the entire value of the advertisement is lost.

(b)

Exp: This medium of advertising was very popular till the middle of last century. It facilitates the repetition of the advertisements so that the image and concept of the product is stabilized in the minds of the listeners. This however, does not have the same appeal value as that of the television.

(a)

Exp: Some enterprises adopt direct mailing and passing on the communication to the customers directly. This mode of advertisement is possible only when the customer range is limited and it cannot be applied to a large sector of population.

(c)

Exp: Advertising is aimed at providing information, developing attitudes and inducing action beneficial to sponsors. The primary goal of advertising is to improve the likelihood of the customers buying the advertised product. It helps in making announcement of the sales promotion schemes.

(a)

Exp: Outdoor advertising is a common mode of advertising adopted by all types of enterprises in view of its cost and longer duration of time. This is possible for a limited area and is usually adopted for consumable goods.

(c)

Exp: The importance of advertising for business cannot be underrated. It helps the enterprises in accomplishing a lot of objectives such as minimizing marketing cost, creating need, as well as, stimulating demand, creating goodwill of the company and the entrepreneur.

(a)

Exp: Sales promotion refers to those marketing activities, other than personal selling, advertising and publicity that stimulates consumer’s purchasing and dealer’s effectiveness, such as displays, shows, exhibitions, demonstration etc.

(c)

Exp: While advertising provides the customer an impetus to buy, the sales promotion provides an incentive to buy. The sales promotion aims at introducing a new product into the market, clearing the stock in case of off-season goods and building a bridge between the entrepreneur and the customer.

(b)

Exp: There are a large number of sales promotion tools and techniques. These may be either directed towards the customer or the trader itself. Some of these techniques are price off, samples, premiums, quantity plus, buying allowances etc.

(a)

Exp: Under this technique of sales promotion, the product is sold and money is received in installments at 0% rate of interest. The seller undertakes these activities in order to promote its product as well as to increase sales.

(b)

Exp: It has been observed that advertisements show all types of products irrespective of their quality. Nowadays, with the help of advertising anything can be sold in the market. Thus, it encourages the sale of even inferior goods and motivates the producer to primarily focus on promoting the goods.

(a)

Exp: Personal selling is a medium of sales increase wherein both buyer and seller directly face each other. Seller presents his product before the buyer. He describes its features and fully satisfies the probable buyer by removing all his doubts.

(c)

Exp: Personal selling consists of contacting prospective buyers of product personally. Under this technique, seller provides oral presentation of the message in the form of conversation with prospective customers for the purpose of making sales.

(a)

Exp: Under the personal selling method of promotion, the personal contact between buyers and salesman is established. In other words, both seller and buyer directly face each other.

(c)

Exp: Since the personal selling happens to be more effective, it creates more possibility of sales during the effort making process. Generally, the efforts of the seller do not go waste.

(b)

Exp: The cost incurred in using personal selling as a medium of promotion is always more than advertising. It requires building personal rapport with the target consumers as well as creating lasting relationship. This needs more efforts, resources, time and money making it more expensive.

(a)

Exp: As personal selling requires a lot of people. Therefore, it creates employment opportunities in society as well as raises the standard of living of people.

(b)

Exp: Publicity is a medium of providing information about a particular product to the customer for which no effort is made by the producer. It is a non-paid non-personal presentation of ideas, goods and services through a mass media in the form of news item.

(a)

Exp: Publicity of products is done through a non-paid non-personal presentation through a mass media in the form of news item. The producer is not required to put in any effort.

(c)

Exp: A good salesman creates confidence in the minds of the buyer through his fair dealings. He stakes no false claims or gives no false assurances. He has helpful attitude and honors his commitments.

(b)

Exp: The sale of a product or service takes place when the interest of the buyer matches with that of the seller. Only after matching of the corresponding interests, the real sale can take place.

(a)

Exp: Under this form of promotion, companies appoint salespersons to contact prospective buyers and create awareness about the product and develop product preferences with the aim of making sale. It allows a salesperson to develop personal relationship with the prospective customer, which in turn provides company a regular or permanent customer.

(a)

Exp: Sales promotion bridges the gap between advertising and personal selling and makes these methods more effective. As a result, consumers are motivated to purchase that product.

(b)

Exp: Promotion mix refers to the use of communication with twin objectives, such as informing potential customers about a product as well as persuading them to buy it. An organisation uses it to achieve its objectives regarding appropriate communication of its products and services.

(a)

Exp: It is an example of ‘quantity gift’ technique of sales promotion in which extra quantity of the main product is offered as a gift to the consumers in order to increase sales and publicize the product in a short duration.

(b)

Exp: Promotion mix refers to combination of promotional tools used by business to inform and persuade customers about the products. This is done through the medium of advertisement, personal selling, sales promotion and publicity.