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Chapter 15 – AssignmentDue Thursday, November 13Must be typedWhat is a promotional strategy? Explain the concept of a competitive advantage in relation to promotional strategy.A promotional strategy is a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, sales promotion, and social media. Having a competitive advantage is having a unique aspect of an organization that causes target consumers to patronize that firm rather than competitors. Having a competitive advantage means being able to promote your product over your competitors and being one step ahead in what makes your product different from others, how will it better benefit a consumer, and why they should ultimately purchase from you.Why is understanding the target market a crucial aspect of the communication process?Understanding the target market is important because you need to know who to sell to, how to convince your buyers, and how to improve. Throughout the communication process everything that is done is to create a product, build a product, and sell you on the idea of buying the product. Communication from consumers is important because they will give you feedback on whether or not they like your product and what you need to change. The communication process includes internal and external communication. You of course have to internally communicate with your staff about creating a descent product but you externally communicate with consumers to get them to buy and give constructive feedback.Discuss the AIDA concept. How do these different stages of consumer involvement affect the promotional mix? ................
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