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Submitted by szerpe on March 31, 2006
Category: Business
Words: 4994 | Pages: 20
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MARKETING HOME ASSIGNMENT
By: Szeremlei Péter
Seminar Leader: Kapitány József
Module Leader: Dr. Tom Owens
Topic:
Communication Tools
Abercrombie & Fitch Co.
1 Introduction
In terms of the general perception of all of the marketing mix elements that a firm may employ, it is perhaps promotion' that is the most prominent P' in the 4 P's'. In fact to many people promotion is marketing. Promotion is a part of a firm's overall effort to communicate with consumers and others about its product or service offering'. Both the company and the consumer have needs which they aim to fulfill; the profit making company wishes to improve or maintain profits and market share, and gain a better reputation than its competitors, and the consumer aims to reach his or her personal goals. The total product offering allows each party to move towards these goals, offering a bundle of satisfactions' which fulfill needs in an instrumental and a psychological sense. The phrase Marketing Communications' is generally preferred to the term promotion', this term being reserved for a branch of communications called below-the-line sales promotion'.
2 Promotion or Marketing Communication
In a sense all marketing communication activity is a form of promotion, that is in one way or another is attempting to promote the interest of the brand, product range and/or company. What differentiates above the line' activity from below the line activity' is a somewhat arbitrary division. There is no universally accepted definition of either. Below the line activity is loosely classed as non-media advertising. Basically if an advertisement is submitted to a publication and a commission is paid to the advertising agency to feature the piece then this is deemed to be above the line' communication. If no commission has...
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