The Growth Challenges of Small and Medium Food Enterprise through Promotional Warfare
Dr. Jose Mari S. Uy
Promotion attributes such as strategies, tactics and the like are very useful in business. They lessen transaction costs in the firm's marketing and offering of its products or services to the market. These business identifiers include the techniques of the trader as used in his commerce, be it called firm, corporate name or business name, tag lines. It also includes the innovative ways and Internet domain name. All of these business identifiers serve to soften the search and patronage whether it is through the traditional transactions or through the internet by clearly pointing out the identity and allowing for the assessment of the business (Buffa, 2015).
Promotion Mix strategies that can be used by a company in promoting a product are numerous. Companies just have to choose the applicable promotion strategies for their customers. There are eight components of the promotion mix that companies may use. These are word of the mouth marketing, interactive marketing, events and experiences, personal selling, direct marketing, public relation, sales promotions, and advertising. These attributes should be chosen carefully because they would be attached to the business in the long run, to be.
In 2012, there were 2,673 outlets in the 100% home delivery/ takeaway subsector, and just fewer than 63 million transactions. However, outlets and transactions grew at robust compound annual rates of 18.6% and 7.0% respectively, between 2008 and 2012. This subsector is expected to remain the leading area of outlet and transaction growth within Philippine consumer foodservice until 2017. A typical outlet earned US$117,246 in 2012, or US$4.98 per transaction.
Locations. The majority of the Philippine's foodservice sector is represented by retail and standalone locations in terms of sales (US44.1 billion and US$3.9 billion, respectively) and outlets in 2012. The retail format has supported overall outlet growth in the industry, due to the expansion of shopping malls. However, travel locations saw the greatest expansion in terms of value sales and outlet growth from 2008 to 2012.
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