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All products have a product life cycle and the composition of the
promotional mix changes over the four life-cycle stages
Introduction Stage-informing consumers in an effort to increase their
level of awareness is the primary promotional objective in the
introduction stage of the product life cycle
Growth Stage- the primary promotional objective of the growth stage is
to persuade the consumer to buy the product rather than substitutes,
so the marketing manager seeks to gain brand preference and solidify
distribution
Maturity Stage- in this stage the need is to maintain existing buyers,
and advertisings role is to remind buyers of the products existence
Decline Stage- usually a period of phaseout for the product, and littler
money is spent in the promotional mix
Product Characteristics
The proper blend of elements in the promotional mix also depends on the
type of product
Three specific characteristics should be considered
Complexity-refers to the technical sophistication of the product and
hence the amount of understanding required to use it
Risk- can be assessed in terms of financial risk, social risk, and
physical risk
Ancillary services- pertain to the degree of service or support
required after the sale
Stages of the Buying Decision
Knowing the stage of decision making can also affect the promotional mix
Pre-purchase Stage- in this stage, advertising is more helpful than
personal selling because advertising informs the potential customer of
the existence of the product and the seller
Purchase Stage- the importance of personal selling is highest, whereas
the impact of advertising is the lowest
Post-Purchase Stage- the salesperson is still important, in fact the more
personal contact after the sale, the more the buyer is satisfied
Channel Strategies
Achieving the control of the channel is often difficult for the manufacturer,
and promotional strategies can assist in moving a product through the
channel of distribution
Push Strategy-directing the promotional mix to channel members to
gain their cooperation in ordering and stocking the product
Pull Strategy- implement this by directing its promotional mix at
ultimate consumers to encourage them to ask the retailer for a product
( ex. Pharmaceutical companies encourage consumers to ask their
doctor for a specific drug by name-pulling it through the channel)
Developing an IMC Program
Identifying the Target Audience