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| Promotion | communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response |
| Promotional Strategy | a plan for the optimal use of the elements of promotion: advertising, public relations, personal selling, and sales promotion |
| Competitive Advantage | one or more unique aspects of an organization that cause target consumers to patronize that firm rather than competitors |
| What are the 3 Tasks of Promotion? | Informing, Reminding, and Persuading the target audience |
| Promotional Mix | the combination of promotional tools - including advertising, public relations, personal selling, and sales promotion- used to reach the target market and fulfill the organization's overall goals |
| Advertising | impersonal, one-way communication about a product or organization that is paid for by a marketer |
| Public Relations | the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public acceptance and understanding |
| Publicity | Public information about a company, product, service, or issue appearing in the mass media as a news item |
| Sales Promotion | marketing activities - other than personal selling, advertising, and public relations - that stimulate consumer buyer and dealer effectiveness. Examples: free samples, contests, premiums, trade shows, vacation giveaways, and coupons. |
| Premium (In terms of Sales Promotion) | A freebie such as a trial size of shampoo included with the larger bottle |
| Personal Selling | a purchase situation involving a personal paid-for communication between two people in an attempt to influence each other. A dyadic relationship |
| Win-Lose Outcome in Personal Selling | The objectives of the seller (maximize revenue and profits) are at the expense of the buyer (minimize cost while assuring quality) (Traditional View) |
| Win-Win Outcome in Personal Selling | By using Relationship Selling, a salesman attempts to create a long-term, committed relationship with the customer or business based on trust, increased customer loyalty, and a continuation of business (This is becoming more dependent on the internet) |
| AIDA Concept | a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action |
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Presentation on theme: "1 Marketing Communications. 2 Promotion Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence."— Presentation transcript:
1 1 Marketing Communications
2 2 Promotion Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response.
3 3 Differential Advantage Unique Features Excellent Service Low Prices Rapid Delivery High Product Quality Features that Provide Differential Advantage Advantage Features that
Provide Differential Advantage Advantage
4 4 Promotional Mix Combination of promotion tools used to reach the target market and fulfill the organization’s overall goals. Advertising Public Relations Sales Promotion Personal Selling Public
Relations Word-of-Mouth
5 5 Advertising Impersonal, one-way mass communication about a product or organization that is paid for by a marketer.
6 6 Advertising Media Traditional Advertising Media Traditional Advertising Media Electronic Advertising Media Television Radio
Newspapers Magazines Books Direct mail Billboards Transit cards Internet Electronic mail Interactive video
7 7 Advertising Advantages Reach large number of people Low cost per contact Can be micro- targeted
Disadvantages Total cost is high
8 8 Public Relations The marketing function that evaluates public attitudes, identifies areas within the
organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance.
9 9 Publicity Public information about a company, good, or service appearing in the mass media as a news
item, which is free to the company.
10 10 Sales Promotion Free samples Contests Premiums Trade Shows Vacation Giveaways Coupons Popular Tools for Consumer Sales Promotion Popular Tools for Consumer
Sales Promotion
11 11 Personal Selling Planned presentation to one or more prospective buyers for the purpose of making a sale.
12 12 Personal SellingTraditionalSellingTraditionalSellingRelationshipSellingRelationshipSelling
13 13 Characteristics of Advertising Communication Mode
Communication Control Feedback Amount Feedback Speed Message Flow Direction Message Content Control Sponsor Identification Reaching Large Audience Message Flexibility AdvertisingAdvertising Indirect and non-personal Low Little Delayed One-way Yes Fast Same message to all audiences
14 14 Characteristics of Public
Relations Communication Mode Communication Control Feedback Amount Feedback Speed Message Flow Direction Message Content Control Sponsor Identification Reaching Large Audience Message Flexibility Public Relations Usually indirect, non-personal Moderate to low Little Delayed One-way No Usually fast Usually no direct control
15 15 Characteristics
of Sales promotion Communication Mode Communication Control Feedback Amount Feedback Speed Message Flow Direction Message Content Control Sponsor Identification Reaching Large Audience Message Flexibility Sales Promotion Usually indirect and non-personal Moderate to low Little to moderate Varies Mostly one-way Yes Fast Same message to varied target
16 16 Characteristics of Personal Selling Communication Mode
Communication Control Feedback Amount Feedback Speed Message Flow Direction Message Content Control Sponsor Identification Reaching Large Audience Message Flexibility Personal Selling Direct and face-to-face High Much Immediate Two-way Yes Slow Tailored to prospect
17 17 Goals
and Tasks of Promotion Informing Reminding Persuading Target Audience Target Audience
18 18 Product Life Cycle Time Dollars Product Category Sales Intro Intro Stage StageGrowth Maturity Decline Decline Stage Stage 0
19 19 Goals and Tasks of Promotion Informing Reminding Persuading Target Audience Target Audience PLC Stages PLC Stages: Introduction Early Growth PLC Stages: Growth Maturity PLC Stages: Maturity
20 20 Goals and Tasks of Promotion Informative Objectives Increase awareness Explain how product works Suggest new uses Build company image
21 21 Goals and Tasks of Promotion Persuasion Objectives Encourage brand switching Change customers’ perception of product attributes Influence buying decision Persuade customers to call
22 22 Goals and Tasks of Promotion Reminder Objectives Remind customers that product may be needed Remind customers where to buy product Maintain customer awareness
23 23 Factors Affecting the Choice of Promotional Mix Nature of the Product Stage in PLC Target Market Factors Type of Buying Decision Promotion Funds Push or Pull Strategy
24 24 Product Life Cycle and the Promotional Mix -Light Advertising -Pre- Introduction Publicity -Heavy Ads -PR for Awareness -Sales Promotion for Trial -Ads & PR Decrease -Limited Sales Promotion -Personal Selling for Distribution -Reminder Ads -Sales Promotion -Personal Selling -Advertising and PR for brand Loyalty -Personal Selling for Distribution Introduction Growth Maturity Decline Sales ($) Time
25 25 Target Market Characteristics FOR: Widely scattered market Informed buyers Repeat buyers Advertising Sales Promotion Less Personal Selling
26 26 Type of Buying Decision Advertising Sales Promotion Type of Buying Decision AffectsPromotional Mix Choice Type of Buying Decision AffectsPromotional Mix Choice
ComplexComplex RoutineRoutine Personal Selling Not Routine or Complex Not Routine or Complex Advertising Public Relations
27 27 Push and Pull Strategies Manufacturer promotes to wholesalerManufacturer wholesalerWholesaler retailerWholesaler retailerRetailer consumerRetailer consumerConsumer buys from
retailerConsumer retailer PUSH STRATEGY (Office Depot and Office Max) Orders to manufacturer Manufacturer promotes to consumerManufacturer consumerConsumerdemandsproduct from retailer Consumerdemandsproduct Retailerdemandsproduct from wholesaler Retailerdemandsproduct Wholesalerdemands product from manufacturerWholesalerdemands manufacturer Orders to manufacturer PULL STRATEGY (Coke and Pepsi)