Caps #6 - week 6 ASSIGNMENT- CAPSTONE PDF

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week 6 ASSIGNMENT- CAPSTONE...

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Week 6 assignment

Global Business Management Course Title: Global Business Management Capstone (BUS8350) Tania Dadhwal (8365215) Deepak Dhull (8338568) Saumya Mehta (8237281) Sumit Setia (8356172) Gaurav (8353187) Rajat (8383715) Tom Schell October 21, 2018 11:00pm

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Week 6 assignment

Objectives for promotion There are plenty of objectives behind the promotions as there are plethora of firms and they want to expand their business to acme level. The factors behind these are, increasing sales, profitability, to allure the customers, to aware people and so on. 1. Build Awareness: - One of the key factors of promotion is to build awareness among all the people about their brand plus, they make people aware about what they have in the market and how it differs from the other competitors. To add, they make masses aware about the launching products so, their sales would be increased. 2. Create interest: - By launching new products in the market, they allure the customer so, customer buy their products and they do have different strategies for that. For example, giving discount, offers, gift vouchers and many more. 3. Provide information: - One promotional objective is providing product information. They often distribute brochures, catalogs, sales letters, videos and many more things into the market about their products. Consumers want facts to evaluate various products and make buy choices. Advertisers use product information to educate customers on numerous product features and blessings. 4. Stimulate demand: - To increase the demand for the product they use promotion and this will increase their profitability. Even they believe so much in repeat sales and they do hard work on repeat sales because these buyers boomed their sales to higher level. To retain the customers they give perks, offers, discount to their regular customer to fascinate and to retain the consumer.

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5. Reinforce brand: - One of the main motives of the companies to make their brand name popular among the people not nearby but worldwide famous. The Brand Reinforce mainly emphasis on the popularity of Brand Equity by keeping the brand alive among both the existing and new consumers. This can be done through consistently conveying the meaning of brand in terms of: What are the goods below the emblem? What are its middle advantages and how it satisfies the decision for? How is the brand brilliant from other manufacturers? How it permits a patron to make a sturdy, unique and favorable affiliation in their minds?

Promotional mix AdvertisingAdvertising is one of the important key factors of promotional mix and with new innovation and latest technology promotion of product is now done in more advanced way for attracting customers. In highly competitive and consumer-oriented market a product whether its new or old need to be promoted for sale purpose in one or another manner. (Akrani, 2018)

Features of advertisingAdvertising product publicly- marketing the product publicly is another aspect for providing information regarding features and benefits regarding the product launched and this aspect is always about aware consumer about product which is launched in the market. (Akrani, 2018) 3

Week 6 assignment

Influencing potential consumers- with a attractive advertisement consumers get attracted and if they are influenced by product they purchase it. Advertisement have a lot of influence on consumer decision. (Akrani, 2018)

Benefits of advertisingBrand’s goodwill- a goodwill is built when the interest in the products and service provided is more among purchaser and in the market and the social welfare projects and network benefit exercises can get wide exposure through promotions which builds the notoriety for being admirably as brand's goodwill. (Akrani, 2018) Sales promotion- A producer can make his business advancement crusade fruitful by utilizing the help of publicizing. The deal advancement like advertisements crusade go about as immediate correspondence with shoppers. (Akrani, 2018) Personal selling

Personal offering is another choice which is similarly about one gathering building great association with another gathering by different strategies for getting the outcome in type of offer of item. Individual offering is finished by different strategies like up close and personal gathering, through telephone call, video call and numerous different ways.

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Personal offering is frequently utilized when deal is should be done in outside market and also manufactured individual connections and best limited time

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apparatus to achieve its client. ("What is Personal Selling? - KnowThis.com", 2018)

RAJAT Public relations: Public Relation is a procedure pursued by an individual, organization, association to speak with people in general and furthermore the media. A PR master speaks with the crowd straightforwardly or by implication through media with a plan to make and keep up a positive picture and make a solid association with the group of onlookers. It involves releasing official statements, pamphlets, annual reports, videos and in addition usage of the internet. A positive open picture makes a solid association with the clients which thus expands the deals. Ipr.org.uk. (2018). Crisis Communication: Crisis communication is an activity which goes for securing the reputation, goodwill of the association and keeping up its open picture. Different factors, for example, criminal assaults, government examinations, media enquiries can discolor the picture of an association. Crisis Communication masters battle against a few difficulties which tend to hurt the notoriety and picture of the association. Crisis can negatively affect the brand picture. The crisis communication specialists are employed to save the organization's image against different dangers and undesirable difficulties. Whenever oversaw well it can limit the harm and even increment the credibility. The most critical thing to recollect in an emergency is to be totally straightforward, come clean and do it 5

Week 6 assignment

rapidly.Managementstudyguide.com. (2018). The following steps should be followed in a crisis situation: Step 1- Plan Ahead of Time and Create Your Crisis Communication Plan: Every association is defenseless against emergencies. The old times doing nothing and trusting the issue would leave – are gone. In the event when you don't set the things up, then it will cause more harm. Associations shall foresee their emergency and be prepared with a suitable plan. Bernstein Crisis Management. (2018). Step 2- Set up your Crisis Communication Team: Crisis Management Team shall be framed who could react quickly to notice signs of emergency and execute important plans to conquer crisis circumstances. The group ought to incorporate at the very least the President, Public Relations Representative, Vice-president.

Bernstein Crisis

Management. (2018).

Step 3- Deal with the Message and the Media: Years of diligent work in building and molding the brand's notoriety can be hampered in minutes by an errant tweet, any product or service disappointments and claims. Dealing with the message and the media assumes an abnormal state job and the associations shouldn't get captured uninformed. Arranging to manage the media and keeping things clear is the best approach ahead and furthermore to address their issues and requests. Bernstein Crisis Management. (2018).

Step 4- Convey Early and Often: It's imperative in this circumstance to be proactive. Exact, opportune and important data is basic amid any emergency and crisis. It is proposed that emergency correspondence ought to be an essential piece of a powerful

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interchanges plan. A crisis communication plan is very important as it intend to guarantee that exact data is given in a crisis situation and helps to limit the problems caused by the misleading information. Bararia, R. (2018). The first important thing is to set up numerous methods for communication like utilizing instant messages and email, and the most recent being WhatsApp gatherings. Online networking stages can likewise be of incredible help. Setting up a Facebook page, where representatives can check to get data and can likewise have two-way intuitive communication is such a critical situation. Bararia, R. (2018). Step 5- Organize Your Audiences and Cater the Message: Distinctive gatherings of audience ought to be viewed and considered when communicating in an emergency situation in light of their relationship to the episode. All the associations audience searches for a particular message based on the crisis situation. Organizing the advancement of messages for every group of onlooker’s dependents on the level of their involvement assumes an indispensable job and tending to the groups of audience with particular data in regards to the emergency and addressing the audiences with specific information regarding the crisis and the plan of action that is being put into place is very relevant during a crisis situation. Orau.gov. (2018).

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References 1. The Objectives of Marketing Promotions. (2018). Retrieved https://yourbusiness.azcentral.com/objectives-marketing-promotions-4328.html

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2. (Akrani, G. (2018). Purpose, Features, Advantages, Role, and 5 M's of Advertising. Retrieved from http://kalyan-city.blogspot.com/2010/07/5-ms-of-advertising-advertising.html 3. What is Personal Selling? KnowThis.com. (2018). https://www.knowthis.com/personal-selling/what-is-personal-selling/

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4. Ipr.org.uk. (2018). Introduction to Public Relations. [online] Available at: http://www.ipr.org.uk/ [Accessed 19 Oct. 2018]. 5. Managementstudyguide.com. (2018). Crisis Communication - Meaning, Need and its Process. [online] Available at: https://www.managementstudyguide.com/crisis-communication.htm [Accessed 19 Oct. 2018]. 6. Bernstein Crisis Management. (2018). The 10 Steps of Crisis Communications » Bernstein Crisis Management. [online] Available at: https://www.bernsteincrisismanagement.com/the-10-stepsof-crisis-communications/ [Accessed 19 Oct. 2018]. 7. Bararia, R. (2018). Significance of Crisis Communications – Internal and External - Reputation Today. [online] Reputation Today. Available at: http://reputationtoday.in/little-joys/significanceof-crisis-communications-internal-and-external/ [Accessed 20 Oct. 2018]. 8. Orau.gov. (2018). Audiences and Messages - Thinking Them Through. [online] Available at: https://www.orau.gov/cdcynergy/erc/content/activeinformation/essential_principles/EPaudiences_content.htm [Accessed 20 Oct. 2018].

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