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I have two parts in my work:
The first Part: answer the essay questions directly: Q1, Q2 and Q3
About Q2: I posted another document about my group project to help you to answer Q2.
second Part: about my group project I need to cover my part(Director of Sales/Customer Channel) in this project, I need 7 slides.
If you need the slides of this book tell me now.
Marketing of High-Technology Products and Innovations by Jakki J. Mohr, Sanjit Sengupta, Stanley Slater
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What is sufficient when it comes to driving demand? Provide insights with real world examples?
Driving demand means using different marketing mix variables to increase the demand for the product. Typically, markers use the promotion variables do drive up the demand. For example, company may use a sales promotion campaign, a public relations campaign, or an advertising campaign to drive up its sales. The purpose of this campaign is to drive up the sales of the company. However, the objective of every campaign is to increase the profits of the company. Intuitively, one might feel that the demand should be driven up infinitely. However, this is not the case.
Let us consider an advertising budget. A company wants to increase its advertising to drive up the demand. What is the "sufficient" budget for advertising? The objective of the company is obviously to maximize its profits, so the optimal level of advertising is the point where the marginal revenue from advertising is equal to the marginal cost of advertising. This is the point where "driving demand is just sufficient". Any additional advertising will mean a movement away from the marginal revenue equals marginal cost point and so will not lead to profit maximization. Similarly, in case of sales promotion, the budget should be increased to a point where the marginal revenue from sales promotion equals the marginal cost of sales revenue.
One real world example is that of the Motorola's moto campaign. In 2002 when the campaign was launched the company increased its spending on advertisements by $75 million. It launched hello moto spots, alpha-moto campaigns, and buddy moto advertisements. The company increased its advertising expenditure striving to match its marginal revenue from advertisements to the marginal cost.
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This solution gives you a detailed discussion on driving demand