Part one we’ve learned and talked about so much as it pertains to product placement. Its simple definition is, the appearance of products in television programs or movies paid for by the manufacturer or a company. In other words to place a product in a market setting, you must undertake a series of processes e.g. the channels through which a product passes before reaching the final customer. Our product i.e. candy bars passes trough these channels of distribution. Among the many distribution channels our company employs is the use of catalogues, Hershey’s uses fundraising catalogues to reach its wide range of customers. This method has gone along way to not only informing prospective customers of brands of candies in offer but also reminding those who seem to have forgotten.
Hershey’s uses internet very much, this is in line with the companies objectives i.e. to use every means at its disposal so as to reach a wider range of customers. Through the internet Hershey’s gets to interact with customers though indirectly. This distribution channel though selective has continued to be used because of its potential nature.bacause more and more people are accessing the internet nowadays.
Our company also employs the use of intermediaries to reach to reach its final buyers. The normal wholesale-retail channel is the one which is widely used as compared to other methods. This method is very much cost effective since it saves the manufacturer the agony of reaching the final consumers. It is the intermediaries who incur these extra costs, and hence the company concentrates on other areas of improving the quality of the product
Our company is always keen to maintaining a close link with its customers through participating in trade fairs and exhibitions. Through these fairs and exhibitions a wide range of new and old customers get to know new brands in market and also the improvement of the already existing ones.
Another one of the four P’s in marketing is promotion. This encompasses of all the tools available to the marketer for marketing communication. Think of it putting in mind a cake mix, the basic ingredients are always the same. However if you vary the amounts of one of the ingredients, the final outcome is different. It is the same with promotions. You can integrate different aspects of the promotions to deliver a unique campaign. Our company therefore cannot afford to be left back; it has put in place the following promotional methods. Our products are packaged in very attractive and appealing packets this has helped a lot especially in young buyers who form the greatest percentage of our customer base.
Another method of promotion employed by our company is the giving out of gifts and free samples to loyal customers. Customers naturally will go for goods whose manufacturer dishes out gifts regularly. The price of a commodity affects a great deal its volumes of sales, the lower the price the higher the higher the sales and vise versa.
The above methods of sales promotion are facilitated by the following elements of promotion. Personal Selling is the first one and it is always a very effective way to manage personal customer relationships. Personal sellers sell on behalf of the company; they make good sales since they work on commission basis. Sales promotion the other element of promotion encompasses both promotions and advertising; our company has continued to invest heavily on product advertisement through the internet, and also out door advertisements. Our Public Relations department is well refined, and planned to sustain and maintain a rapport with the public .Trade Fairs and Exhibitions have been very much helpful, in keeping our esteemed customers informed about our dynamic range of products. Such approaches have been very good for making new contacts and renewing old ones.
The above analysis of place and promotion about Hershey’s candy bar has been researched from various sources and chapters given as part of instructions of this order, and as I researched I found out that our product has got a stable place in the market. This has been occasioned by the various channels of distribution. Although I would recommend the following;1)the company should try to use less intermediaries, this will ensure that the end retailer does not charge more than recommended in trying to make up for extra expenses incurred.2)the company should venture more in online pacing of its products.
On the area of promotion the company should improve n the following; 1) more sponsorship is encouraged on local activities e.g. football tournaments, races or even awareness campaigns on environmental conservations. This will make the public to fell tied closely to the company.2) the practice of personal sellers should be reduced in slowly especially after products have been fully exposed in the market since personal selling is mostly expensive. Finally the placing and promoting of a product is inconsequential if the quality of a product is wanting.
Work cited:
- http://www.marketingteacher.com/Lessons/lesson_promotion.htm accessed on April 16, 2008
- http://placeforproducts.blogspot.com accessed on April 16, 2008
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