MGMT670 week 6 Conference Assignment Example | Topics and Well Written Essays - 500 words

MGMT670 week 6 Conference - Assignment Example If you have yet to generate a company icon online, social media sites are the places to do it. There are innumerable principal benefits to carrying out marketing and promotional practices on global products. Foremost, the most significant merit is attached to brand recognition. Marketing and promotion of a global product assists in imprinting the product’s brand in the minds of the potential customers (Zimmerman & Blythe, 2005). Accordingly, the customers tend to seek a pre-identified brand rather than the product brand seeking for its users. In addition, once a brand has expanded its ground and founded its customer base, promotion enables it to keep hold of the potential customers. Another merit linked to promotion is the identification of potential customers rather than forcing a product on unenthusiastic purchasers (Marquardt, 2012). Furthermore, direct marketing enables companies to target specific customers by personalizing the meaning of the advert to have the best possible effect. The downside is that such promotions can be expensive. Companies have to spend on adverts as well as employing sales and marketing professionals (Stonehouse & Purdie, 2004). If a firm fails to conduct a proper market research then it might end up making unnecessary advertisement and marketing expenses. Some companies waste efforts in targeting unwilling customers using unsuitable media. Small businesses owners must, therefore, weigh the merits of conducting such marketing practices against the respective costs incurred. As well as the financial expenses, promotion requires sacrifice of time. The sales experts are expected to research on the most proper marketing approaches design the adverts and deal with customer reactions to the products. An example of how to market global products and services is by use of funny video clips. YouTube and other social network videos could be used to