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Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Trade Promotion refers to marketing activities that are executed in retail between these two partners. Trade Promotion is a marketing technique aimed at increasing demand for products in retail stores based on special pricing, display fixtures, demonstrations, value-added bonuses, no-obligation gifts, and more. [2]
To stimulate the growth of sales/revenue, use of advertising may be high, in order to heighten awareness of the product in question. During the growth stage, the product's sales/revenue is increasing, which may stimulate more marketing communications to sustain sales. More entrants enter into the market, to reap the apparent high profits that ...
Revenue management uses data-driven tactics and strategy to answer these questions in order to increase revenue. [1] The discipline of revenue management (RM) is also known as also known as Yield Management (YM), and is a cross-disciplinary field.
The aim of promotion is to increase brand awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion. [1] Promotion is also one of the elements in the promotional mix or promotional plan.
Curve of sales as a function of the time of the product on the market. After a plateau in sales at product maturity, a steep decline can follow. Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation ...