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A firms promotion or communication strategy informs, persuades and reminds target markets, including customers, employees and stockholders about the firms goods and services.
The term communication mix describes the array of communication tools available to marketers that deliver the firms communication strategy. Like products, managers of service firms need to select the appropriate communication tool to convey their message.
Communication tools
Tools Effect Personal selling Two-way communication Advertising Faster, greater reach Publicity Credible as communicated by third party, cheap
Sales Promotion Ensures short-term gains Sponsorship Allows to target narrow, desired target audience and provides option to adapt to customers changing media habits
Objectives
Target Markets
Growth Potential
Bottom-up/ Top-down Budgeting Budget set by product-level or brand manager and revised by upper management Top-down / Bottom-up Budgeting Percentage of Sales Technique Incremental Technique Affordable Technique Competitive Parity Technique Objectives and Tasks Techniques Budget set by upper management and revised by product-level or brand manager Budget is set as a % of Sales Budget is increased by a fixed % every year Budget is set on what you can afford Budget is set on the basis of competitive behaviour Budget is set on the amount necessary to achieve a set of tasks