Project
Report
Sales Promotion: An Effective Tool for Marketing of
Petroleum Products in Ghana.
Marketing:
- Is a popular continuous change of a distinguish products in excellent
relationships with a stylish innovations for clients and customers.
Sales promotion:
- Is a tactical and strategic concept to add value to brands and makes them
stands out in a crowd by being unique.
Sales promotion intends
to deliver an effective and integrated consumer messages that directs customers
to where and how to get their products and the benefits derived including
favorable pricing.
Unlike advertising
where the specific behavioral effects are difficult to measure, sales promotion
is immediate on the spot of promotion.
For example: In the
case of petroleum products the target group can be offered a competitive brand
testing where customers are made to be aware of brand (Z) going for a certain
price percentage for superior performance while unlike brand (X) same pricing
less superior in performance and a higher cost of maintenance over a period of
time.
So there is always
price comparison and product superiority over time.
Establish a new market:
- During sales promotion when company goes to defined target audience or
prospective customers to explain the difference that come along with better
pricing and performance of product, one thing has to be in mind that customers
cares so much about pricing before even thinks of how good and serviceable the
product might be of great help to them.
Having this aid,
presentation has to dwell around special price deals free giveaways and
sometimes celebrity guests giving out the free giveaways at the event.
Strategies like this
will be effective introduction of products and the company is likely going to
penetrate the prospective market.
Strengthen brand
loyalty: - In a free market economy the consumers usually
have many choices of different manufacturers for the same product. For example
Shell Petroleum Company sells petroleum products but there are so many other
competitive sellers competing in the same market.
Only sales promotion
can be used to help establish Shell brand loyalty with customers that buy based
on price and strengthen Shell’s brand loyalty for customers that tend to buy
top brands but have no set manufacturer preference.
A retail store can also
hold a sales promotion to strengthen brand loyalty the brand in this case is
the store itself.
Promotions such as free
product giveaways and special price deals can work to get the consumers to buy
from Shell stores.
From here additional
promotions has to be in place that will continue to show consumers why they
should always choose the Shell store in regular basis when buying.
Introduce a new product
line:
- If Shell Petroleum Company is known for selling only petrol but nothing else
then it might be difficult to convince customers to accept other petroleum
products during expansion into other product lines.
To help hesitant
customers to accept these new products the best method to apply is use existing
product to help push the new product lines by offering special price deals on
bundled products.
Also coupons can be
given out to win special deals like cars, fridges, sound systems and television
sets or price discount on product or free accessories along with the purchase
of the main product.
To conclude sales
promotion is an effective tool for marketing when principal objective like
creating awareness on special price deals, discounts, coupon awards and top
branding is negotiated with customers to accept the product brand among many other
competitive brands in the market.
Thanks.
MDPI-GIG-OIL&GAS TRAINING.
Name:
Richard Grant-Afari.
Course: Marketing Management.
Zone:
Accra.
I.D. No: TC-OT-0753.
Group Member
Frederick Ayitey Attoh
Email: ayiteylover@yahoo.com
