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Promotion Planning And Techniques
BRAND AwARENESS: The buyer is aware of the brand’s existence but has little specific information
about it and no emotional attachment to it. He may or may not risk purchasing the brand.
BRAND REJECTION: The buyer knows of the brand but refuses to buy it even if it means doing without
the product.
BRAND IGNORANCE: The buyer is unaware of the existence of the brand.
A producer, seller or a manufacturer has a brand franchise when customers show brand insistence, brand
loyalty, or brand preference for his product. In order to increase a brand franchise, the producer must
move buyers from brand ignorance, through awareness or acceptance to brand preference, loyalty and
insistence. Proper promotion and advertising can achieve the objective of converting negative customer’s
attitude to positive one.
MARKET SEGMENTATION
MARKET SEGMENTATION is the process of dividing the total heterogeneous market for a product into
several sub-markets or segments, each of which tends to be homogeneous in all significant aspects. The
concept of market segmentation is used to isolate segments or targets of market that offer the greatest
potential for marketing success or effectiveness so that adequate resources and efforts are directed towards
most promising targets. The advertisement messages are targeted to the same markets segmented for
a product.
IDENTIFIED DECISION FACTORS FOR MARKET SEGMENTATION
- IDENTIFICATION: marketing research is used to identify various market segments.
- MEASURABILITY: it involves the effective size of a segment as estimated through research
objectives, quantitatively and qualitatively. - ACCESSIBILITY: this aspect concerns the ability with which a company may be able to direct
its marketing efforts at a particular segment of the market and it requires careful analysis,
planning and control to ensure that marketing objectives are achieved. - APPROPRIATENESS: it relates to the needs of a particular company. For example, some
companies require huge or large markets for satisfactory operation. Market opportunities
identified in any segment should always be related to company’s resources and needs. - SUBSTANTIALITY: refers to the degree to which the resulting segments are large and
or profitable enough to be worth pursuing. A segment should be the largest possible
homogeneous group of buyers that it pays to target and go after with a specially designed
marketing programme, segmental marketing is very expensive.