Market Led Strategic Changes

“Pretend for a moment that you are the only supplier of yarn and fabric in the world and that every potential customer knows where to find them, and is motivated to purchase. In this ideal world, you probably wouldn’t need promotion. But here, in the real world, it’s a different story. You have ferocious competitors. Many of your prospects don’t like them. Many of your potential customer’s don’t know where to buy your yarn and fabrics and others aren’t motivated enough to turn off the TV and take up surfing for your fabric. Now you need promotion.”
- Nigel Piercy – ‘Market Led Strategic Changes’
Marketers use promotion for a number of reasons, like –
· Providing information
· Stimulating Demand
· Differentiating products
· Reminding current customers
· Countering competitors
· Responding to negative news
· Smoothing demand fluctuations
· Persuading decision makers
· Influencing public behavior Actually, the ultimate goal of all promotion activities is to influence customer behavior.