A product mix is the total number of product lines and individual products or services offered by a company.
Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company.
Some have multiple product lines with lots of products in each line.
What is the role of marketing
Marketing proactively identifies the products and services to focus on over the course of your sales cycle, and then produces materials and communications that get the word out.
Why is 7ps marketing mix important
Why are the 7 Ps important? The seven Ps are important because they can help you plan and lead discussions about a business’ marketing practices, whether the company sells products, services or both.
This means if you’re marketing a service or product, you can consider the seven Ps to help you sell it effectively.
What are the 4 types of promotion mix
There are four elements that make up the promotional mix. They are sales promotion, public relations, personal selling, and advertising.
What are the advantages of marketing
Some of the major advantages of marketing are as follows: (i) Importance to business organization (ii) Beneficial to consumers (iii) Contributes to economic development (iv) Necessary and worthwhile for service firms and non-profit organizations (v) Offers career opportunities.
Which of the following is an advantage of personal selling over advertising in the promotional mix
Personal selling is more effective than advertising when the customer base is small and widespread.
Small because the sales force cannot reach every individual and widespread so that multiple salesmen can cover different areas and sell their products or services to people of that area.
What important roles do marketing play in our economy
Marketing drives a consumer economy, promoting goods and services and targeting consumers most likely to become buyers.
Higher sales for a business that employs successful marketing strategies translate into expansion, job creation, higher tax revenue for governments and, eventually, overall economic growth.
What is 7ps of marketing mix PDF
Services marketing are dominated by the 7 Ps of marketing namely Product, Price, Place, Promotion, People, Process and Physical evidence.
What are the benefits of marketing?
- Growing your sales
- Using and managing your reputation
- Audience marketing benefits
- You earn trust
- Knowing what works
- Learning the marketplace
What are the 4 Ps of marketing and examples
The 4 Ps of marketing include product, price, place, and promotion. These are the key elements that must be united to effectively foster and promote a brand’s unique value, and help it stand out from the competition.
What is personal selling in promotion mix
Personal selling is face-to-face selling where one person who is the salesman tries to convince the customer to buy a product assigned by the company.
It is a promotional activity by which the salesperson uses his or her skills and abilities to persuade people to buy the product thereby in an attempt to make a sale.
What is the main objective of marketing management
The important objective of marketing management is to attract new customers to increase the sales of products.
What is the role of relationship marketing in personal selling
Relationship marketing is important for its ability to stay in close contact with customers.
By understanding how customers use a brand’s products and services and observing additional unmet needs, brands can create new features and offerings to meet those needs, further strengthening the relationship.
What is the difference between personal selling and direct marketing
Personal selling occurs when an employee or salesperson has a conversation with a potential customer.
Direct marketing involves using campaign materials like emails, text messages, fliers, catalogs, letters and postcards, and does not involve interacting directly with customers.
Why is marketing important in the insurance industry
Marketing plays a key role in insurance market to meet supply and demand, because insurance products are products that are not seen, not touched, but exist only in the form of pledges.
Selling a promise requires a confidence, a belief that the service provider will be realized if the loss will occur.
What is the marketing strategy of insurance product
By creating content that helps prospects and clients understand their options for coverage, such as blogs, guides, and tip sheets, you can deliver lasting value.
This makes content marketing one of the best insurance marketing ideas out there.
Why is personal selling usually much more important in industrial marketing than in consumer marketing explain with help of example
Personal selling is the primary demand stimulating force in the industrial marketer’s promotional mix.
Its role is very dominant in industrial markets because of less number of potential customers present compared to the consumer markets and the large amount of money purchases involved.
What is meant by insurance marketing
Insurance marketing is all about marketing the insurance service to attract more customers, which leads to profit generation.
An insurance organisation survives and thrives in the competitive market with innovative insurance marketing techniques.
What are the roles of personal selling in insurance company’s promotion mix
– Personal selling provides opportunities for potential insurance buyers to know about new insurance products in the market.
Thus, it informs and educates the clients about new products.
Which promotion medium is highly done by company in insurance service marketing
Telemarketing. It promote the product by using two communication device like telephone and television.
Foreign service provider of insurance and banks have find that this is one of the effective tool of promoting a product.
How do you create market strategies for insurance products in your area?
- Create a Referral System that works
- Create more pages on your website
- Establish a clear and concise lead nurturing strategy
- Cross-sell to current customers
- Establish partnerships
- Advertise online
- Adopt an insurance CRM
What are the marketing strategies of insurance companies in India?
- Define Your Target Audience
- Create The Digital Customer Journey
- Create High-Quality Content
- Devise And Implement An SEO Strategy
- Use PPC Advertising
- Summary
How companies use personal selling
Personal selling strategies involve meeting with the customer for a face-to-face interaction that serves to inform and persuade them into making a purchase.
By directly meeting with the customer, the salesperson confirms the product’s benefits by emphasizing details like price, characteristics or current market demand.
What is personal selling explain the role of personal selling in customer relationship management
Personal selling is a promotional method in which one party uses skills and techniques for building personal relationships with another party (e.g., those involved in a purchase decision) that results in both parties obtaining value.
What are various sales promotion methods used by insurance companies?
- CHAPTER 1:-INTRODUCTION
- Advertising
- Publicity
- Word of mouth promotion
- Sales promotion
- Personal selling
- Telemarketing
- World Wide Web
What promotion mix would you suggest attaining companies objectives
The promotion mix is an element of the marketing mix. It includes advertising, public relations, personal sales, and sales promotion.
Mediums used for promotion include: the Internet, television, advertisements, special events, endorsements, newspapers, and magazines.
Why is digital marketing important to insurance companies
Digital marketing is an effective instrument to demonstrate the insurer’s understanding of consumers’ individual needs and preferences and then deliver an experience that feels personalized to them—which can go a long way in building existing relationships and converting new customers.
What is the role of a marketer in an insurance company
Designing and implementing effective marketing strategies to sell new insurance contracts or adjust existing ones.
Contacting potential clients and creating rapport by networking, cold calling, using referrals etc.
What can increase customer value to the product?
- Improve the buying process
- Focus on brand perception
- Get customer feedback
- Make a unique product
- Provide a positive experience
- Prioritize quality over price
- Identify your strengths
- Adjust your marketing strategy
What is the structure of the insurance market
The insurance market has a structure that involves property and casualty insurers, life insurers as well as health insurers.
Each of these types of insurers have regulations that apply to the policies that they provide.
References
https://www.indeed.com/career-advice/career-development/marketing-promotional-mix
https://www.iffcotokio.co.in/other-insurance/4-different-types-of-general-insurance-in-india
https://www.collinsdictionary.com/dictionary/english/distribution-channel
https://www.ukessays.com/essays/business/current-promotional-strategies-in-general-insurance-companies-business-essay.php
