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23654914-TO-FIND-OUT-THE-EFFECTIVENESS-OF-PROMOTIONAL-STRATEGIES-FOR-ORGANISATIONAL-SUCCESS.doc

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TO FIND OUT THE EFFECTIVENESS OF PROMOTIONAL STRATEGIES FOR ORGANISATIONAL SUCCESS Shruti INC Shimla Abstract Promotional strategies are means of attracting new and retaining old customers. Organizations chalk out various strategies from time to time to grab greater market share which in turn leads to profit which is the whole sole aim of the companies. The study was conducted for the telecommunication
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  TO FIND OUT THE EFFECTIVENESS OF PROMOTIONALSTRATEGIES FOR ORGANISATIONAL SUCCESS Shruti INC Shimla Abstract Promotional strategies are means of attracting new and retaining old customers.Organizations chalk out various strategies from time to time to grab greater market sharewhich in turn leads to profit which is the whole sole aim of the companies. The stud wasconducted for the telecommunication compan. Objectives  Primar! To know the best promotional mi# for promoting services.$ To divide the resources effectivel among various sources of promotionalactivities.% To device the most effective wa of communication. Intro!ction The Indian telecom industr is one of the fastest growing industries and facing a toughcompetition to succeed and retain their position but with so man different companiesoffering similar products& it is ver difficult for the companies to differentiate themselvesfrom others to create an identifiable image which potential customers will easilrecognise. This aim is accomplished using promotional campaigns. These strategiesconcentrate on 'I(' model. The model is based on the hpothesis that to grab marketshare the first need that arises is to capture the attention of population which would arose  an interest about the service in available market which in it turn leads to desire to ownthat service and finall will lead to buing which is termed as action. Fi !re #$# Organisations can make use of blend of promotional mi# which comprises of advertisement& public relations& sales promotion& personal selling& direct mail& internetmarketing. )or spreading awareness about the organization& its product and services amedium has to be selected and this selection depend upon the market being targeted. Itsver important for an organization to be ver particular and ob*ective while making their decision regarding the choice of medium. 'll marketing activities are a mone game andif not plaed well ma force the plaer to +uit the market. If it can provide ou withscope of e#pansion then on the other side of the coin it can also ruin the business for onceand for all& if the compan fail to get their ideolog in rhthm with their customers. ,elldesigned advertising campaigns describe& in a creative wa& the features of the product or service being offered and the benefits customers will receive when the purchase it. Choosing which promotional strateg to follow is critical. Organisations have to selectone or blend of these based on purpose& price& coverage and suitabilit. The compan hasto look at the costs and the benefits of each strateg. Revie% o& 'iterat!re 'ccording to Shimp -$% & sales promotion refers to an incentive used b amanufacturer to induce the trade -wholesalers& retailers or other channel members and/or consumers to bu a brand to encourage aggressive sales. It has been suggested that billions of dollars are wasted on ineffective promotion annuall -'mbler 0 1akratsas&!223 . Therefore& formulating more effective promotion strategies is important for alltpes of organizations. 4eithaml and 5itner -$ suggested that one of the steps in  developing effective promotion is determining the communication ob*ectives. Theseob*ectives include awareness& knowledge& liking& preference& conviction& and purchase.'ccording to 6aureen 7. 6c(onough and 8ar '. 'ckert9 Promotion is the activities people use to communicate with others about their product or service and to convincethem to use it. :verthing ou do communicates something about our business. Thisincludes a wide variet of activities including brochures& billboards& and newspaper ads.  Nelson Ol Ndusibi stud evaluated the effectiveness of sales promotional strategiesnamel& coupon& price discount& free sample& bonus pack& and in9store displa in the purchase of low involvement products. The stud also revealed that certain demographicfactors such as education and income of consumers could potentiall confound theobserved relationships hence& these factors were controlled. ' total of %!$ consumerswere surveed using structured +uestionnaire. The results show that price discounts& freesamples& bonus packs& and in9store displa are associated with product trial. Coupon doesnot have an significant effect on product trial.In the stud of Nelson the framework provides new insights into the understanding of sales promotional strategies and their impacts on customers; behavioural responses in lowinvolvement product setting. In addition& it helps to e#plain the role of familiarit withsales promotion tools. Consumers respond more to free sample& price discount& in9storedispla& and bonus pack than coupon. This is an important contribution to the bod of knowledge in this field.Totten 0 5lock -!22< stated that the term sales promotion refers to man kinds of selling incentives and techni+ues intended to produce immediate or short9term saleseffects. Tpical sales promotion includes coupons& samples& in9pack premiums& price9offs&displas& and so on.Coupons have been used to produce trial -=obinson 0 Carmack !22> . 'ccording toCook -$% & coupons are easil understood b the consumer and can be highl useful for trial purchase. 8ilbert and ?ackaria -$$ concurring to the popularit of couponreported that coupon is ranked last as the promotional least widel used b consumersand least influence on product trial. Other studies -e.g. Peter 0 Olson !223@ 8ardener 0  Trivedi !22A@ (arks $@ )ill $$ have reported the importance of coupons as a salestool.Price promotion does influence new product trial -5randweek& !22< . Shimp -$% and)ill -$$ are other e#tant researchers who have documented a link between price promotion and product trial. Product trial involves actuall tring or using a product-Bardes& !222 . 'ccording to Peter and Olson -!223 & trial abilit refers to the degree towhich a product can be tried on a limited basis or divided into small +uantities for anine#pensive trial. Chandon& et al. -$ indicated that sales promotion ma be attractiveto highl promotion prone consumers for reasons beond price savings. The concludedthat highl promotion prone consumers might tr a new product that has promotion.Thomas -!22% argued that the magnitude of planned distribution and promotione#penditures -advertising& sales promotions& sales force& and so on could affect initialtrial of the brand. Met(oo'o )    RESEARCH METHOD In order to investigate the ob*ectives of this stud and answer the hpotheses& that promotional strategies are effective and concrete pillar of organisational success thedescriptive and e#planator research method was emploed. The +uestionnaire survetechni+ue was used to collect data and the +uestions were self constructed. The choices of +uestions for this investigation include +uestions on personal background@ age9 lowestrange was !3 and above@ occupation9emploed& student& service& businessman andunemploed@ and area of residence. The other +uestions were on variables used to assessthe customer buing decision. The rating scale varied from to a great e#tent to notmuchD.  RESEARCH FRAMEWORK  This stud investigates the impact of promotional activities in spreading the awarenessabout the compan then relating the satisfaction of customers and finall estimating thesuccess rate for the same. The stud starts with the following hpothesisE

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Apr 16, 2018

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Apr 16, 2018
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