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Promotion Mix
What is promotion?
Any form of communication a business or organization uses to inform, persuade, or remind people about its products.
Product Promotion
Type of promotion that a business uses to convince potential customers to buy products from them and not their competitors.
Institutional Promotion
Type of promotion that a business uses to create a favorable image for itself.
Promotion mix is also known as marketing communication mix Consists of 5 major tools
Personal Selling!
This type of promotion requires contact with potential buyers
Advertising.
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.
Five MS OF ADVERTISING
MISSION MONEY MESSAGE MEDIA MEASUREMENT
TYPES OF ADVERTISING
INFORMATIVE PERSUADE REMINDER REINFORCE
Product advertising
Sells a particular good or service Initiated by retailers and directed at consumers via papers, television Intended to promote a firms image rather than sell product
Retail advertising
Institutional advertising Trade advertising Industrial advertising Advocacy advertising
Media Newspaper Television Radio Magazines Outdoor Direct mail Yellow pages
Strengths
Good local coverage, broad acceptance, believable Mass coverage, high attention with sight, sound,& motion Low cost, high geographic & demographic selectivity Long life, quality reproduction, high demographic selectivity High repeat exposure, low cost, local market focus Very flexible, targets specific audience, complete information Low cost, excellent local coverage, wide consumer use
Weaknesses
Competition from other features, limited selectivity High cost, fleeting exposure, limited audience selectivity Fleeting exposure, audio presentation only Long ad-purchase lead time, lack of flexibility Brief exposure, limited audience selectivity High cost, junk mail image, need accurate mailing list Long ad-purchase lead time, high other-ad competition
Internet
Harcourt, Inc. items and derived items copyright 2001 by Harcourt, Inc.
Sales Promotion
All marketing activities, other than personal selling, advertising, and public relations is called.
Sales Promotion
2 for 1 Sale Buy One, Get One Free
20 Rs off after 8PM on Tuesday
stimulate purchases increase store traffic Are short term direct inducements to encourage the sales of the products and services
Premiums
Sales contests
Allowances
Consumer-oriented
Trade-oriented
Public Relations
Any activity designed to create a favorable image toward a business, its products or its policies. Marketers engage in public relations to develop a favorable image of their product or organization
Publicity
A specific kind of public relations that involves placing positive and newsworthy information about a business, its products, or its policies in the media is called.. Non personal stimulation of demand for a product or service by putting commercially significant news in media to create a favorable image, its not paid by the sponsor
Creating demand for a business or product by placing news about it in the media
Publicity
Advantage It is free! Disadvantage.. Its contents cannot be controlled by the business
Building an image
Advertising
Creates awareness of a businesss product
Public Relations
Creates a favorable image for the business itself
Sales Promotion
Efforts stimulate sales
Personal Selling
Builds on all of the other efforts by helping customers complete the sale
Strengths
Large audience, low cost per contact, can modify message Effective when using targeted and current mailing list Tailored to each buyer, immediate buyer response Immediate feedback and immediate buyer response Inexpensive, has high credibility Inexpensive, short-term sales increases Creates positive attitude about product/firm
Weaknesses
Overall expensive, difficult to measure effectiveness Reaches disinterested parties and considered junk Expensive Often seen as intrusive Difficult to manage Non-personal appeal Non-personal appeal, hard ot measure effectiveness
Public relations
Push Policy
Promotion policy used only with the next partner in the distribution channel.
Manufacturers PUSH a product to the retailers for sale.
Pull Policy
Push
Wholesalers
Retailers
Consumers
Pull