Present strategies There is the use of the pull of push strategies. Where the resellers require cooperation to accomplish the strategy of Keyman’s, in pull strategy there is a direction of efforts to ensure consumer strategy. The strategy entails the use of coupons, rebates and contest to attract customers. Use of consumer premiums is also necessary. There are promotional efforts to create demand of consumers by encouraging consumers to buy from retailers who buy from wholesalers and manufacturer. For this guard strategy, the product should have high demand; there should be high brand loyalty, and there should be many choices for the customer to choose from. The push strategy involves manufacturers selling to the customers directly rather than through retailers. For the guard strategy, the product categories should have a loyalty that is low towards the brand. The substitutes in the market should be acceptable by the customers. This is a strategy by Keyman’s and Guard. Launching of new products is efficient using the push strategy. The plan is essential where there is no planning of the product to purchase. The customer needs to be knowledgeable about the product.
2) The considerations of sales promotion include
There is consideration of the current situation of the business in terms of working and business scenario. There is also consideration of the sales figure of past periods, where more money is given for promotion for projects that show high sales figure from the past so as to increase sales. Department that build many products should be given more promotion money than small product departments to enable them tab the whole market. Promotion money is given depending on the level of competition the product in question is facing. Thus, the more the competition, the more the money given to ensure the product competes favorably. In the introduction of new products, there is allocating promotion money on the bases of all it can afford. This is to avoid losses that arise due the product, not picking up in the market. In case of short term sales, there is less promotion money to that product. To increase distribution, more promotion money should be given to ensure that the product is able to get customers and maintain the current customers. In giving cash for promotion, there is a reduction in the budget of other products so as to favor other products, which require promotion. To stimulate trial, money should be given. This is because the product requires money for promotion because it is already in the market.
3) Market testing
It is essential to first test the market before introducing a product. This is because test market ensures there is duplication of distribution and promotion. There is monitoring of the results thus the company can establish the right market for the product. Market testing is essential to ensure evasion of the risk involved in the introduction of a new product, which may cause losses due to lack of acceptance by customers. Market testing helps to ensure the product goes to the right consumers thus able to target a large number of consumers leading to massive sales.
Works Cited
Perreault, Cannon and MCarthy. Essentials of Marketing. New York, NY: Mcgraw Hill Higher Education, 2008.
