‘KUL’, an eco-friendly stationery brand is expanding its business in three different markets. For this, it uses different promotional strategies in each market.
In the corporate gifting market, the company appoints salespersons to contact prospective corporate clients and create awareness about its eco-friendly stationery with the aim of making a sale. In the international market, the company focuses on managing public opinion and building a positive image for its product. It disseminates information and builds goodwill about the business. In the domestic retail market, the company offers cash discounts, free gifts, etc. to encourage the buyers to make immediate purchase of its product.
Identify and state three different promotion tools used by ‘KUL’ to expand its business in each of the markets.
‘KUL’, an eco-friendly stationery brand is expanding its business in three different markets. For this, it uses different promotional strategies in each market.
In the corporate gifting market, the company appoints salespersons to contact prospective corporate clients and create awareness about its eco-friendly stationery with the aim of making a sale. In the international market, the company focuses on managing public opinion and building a positive image for its product. It disseminates information and builds goodwill about the business. In the domestic retail market, the company offers cash discounts, free gifts, etc. to encourage the buyers to make immediate purchase of its product.
Identify and state three different promotion tools used by ‘KUL’ to expand its business in each of the markets.
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Solution and Explanation
Each market in the case uses a different tool of promotion. We match the words of the case to the tool.
The tools are advertising, personal selling, sales promotion and publicity or public relations.
Step 2: Corporate gifting market: Personal selling:
The case says the company appoints salespersons to contact prospective corporate clients and create awareness with the aim of making a sale.
A salesperson speaking to the buyer directly is personal selling.
It is an oral presentation to make a sale.
Step 3: International market: Public relations:
The case says the company focuses on managing public opinion and building a positive image. It disseminates information and builds goodwill.
This is public relations, which promotes or protects the image of the company and its products.
Step 4: Domestic retail market: Sales promotion:
The case says the company offers cash discounts and free gifts to encourage immediate purchase.
These are short term incentives. They are called sales promotion.
Final Answer:
KUL uses personal selling in the corporate gifting market, public relations in the international market, and sales promotion in the domestic retail market.
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