Haider and its group presentation.ppt
- 3. Promotion is the function of informing, persuading, and influencing a purchase decision. Integrated marketing communications (IMC) is the coordination of all promotional activities— media advertising, direct mail, personal selling, sales promotion, and public relations—to produce a unified customer-focused message.
- 4. Promotional mix - combination of personal and nonpersonal selling techniques designed to achieve promotional objectives. Personal selling - interpersonal promotional process involving a seller’s face-to-face presentation to a prospective buyer. Nonpersonal selling - advertising, sales promotion, direct marketing, and public relations.
- 5. • Product placement - marketers pay placement fees to have their products showcased in various media, ranging from newspapers and magazines to television and movies. • Guerilla marketing - innovative, low-cost marketing efforts designed to get consumers’ attention in unusual ways.
- 6. Advertising - paid nonpersonal communication delivered through various media and designed to inform, persuade, or remind members of a particular audience. Consumers receive 5,000 marketing messages each day. Firms need to be more and more creative and efficient at getting consumers’ attention.
- 7. Product advertising - messages designed to sell a particular good or service. Institutional advertising - messages that promote concepts, ideas, philosophies, or goodwill for industries, companies, organizations, or government entities. Cause advertising - institutional messaging that promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process.
- 8. Informative advertising - used to build initial demand for a product in the introductory phase. Persuasive advertising - attempts to improve the competitive status of a product, institution, or concept, usually in the growth and maturity stages. Comparative advertising - compares products directly with their competitors either by name or by inference. Reminder-oriented advertising - appears in the late maturity or decline stages to maintain awareness of the importance and usefulness of a product.
- 9. Television • Easiest way to reach a large number of consumers. • Most expensive advertising medium. Newspapers • Dominate local advertising. • Relatively short life span. Radio • Commuters in cars are a captive audience. • Satellite radio offers new opportunities. Magazines • Consumer publications and trade journals. • Can customize message for different areas of the country. Direct Mail • Average American receives 550 pieces annually • High per person cost, but can be carefully targeted and highly effective. Outdoor Advertising • $3.2 billion annually • Requires brief messages.
- 10. Online and Interactive Advertising • Viral advertising creates a message that is novel or entertaining enough for consumers to forward it to others, spreading it like a virus. • Many consumers resent the intrusion of pop-up ads that suddenly appear on their computer screen. Sponsorship • Providing funds for a sporting or cultural event in exchange for a direct association with the event. • Benefits: exposure to target audience and association with image of the event. Other Media Options • Marketers look for novel ways to reach customers: infomercials, ATM receipts, directory advertising.
- 11. Sales promotion - nonpersonal marketing activities other than advertising, personal selling, and public relations that stimulate consumer purchasing and dealer effectiveness.
- 12. • A person-to-person promotional presentation to a potential buyer. – Customers are relatively few in number and geographically concentrated. – The product is technically complex, involves trade- ins, and requires special handling. – The product carries a relatively high price. – It moves through direct-distribution channels. • Example: Selling to the government or military.
- 13. Pushing strategy - relies on personal selling to market an item to wholesalers and retailers in a company’s distribution channels. • Companies promote the product to members of the marketing channel, not to end users. Pulling strategy - promote a product by generating consumer demand for it, primarily through advertising and sales promotion appeals. • Potential buyers will request that their suppliers—retailers or local distributors—carry the product, thereby pulling it through the distribution channel. Most marketing situations require combinations of push and pull strategies
- 14. Pricing Pricing is one of the major elements of the marketing plan It enables to differentiate a product or service from am other one of similar characteristics . The elements of pricing objective includes profit maximization revenue maximization quality leadership quantity maximization on and survival .
- 15. Profitability Objectives • Maximize profits by reducing costs. • Maintain price while reducing package size. Volume Objectives • Base pricing decisions on market share goals. Pricing to Meet Competition • Meeting competitors’ price. • Competitors cannot legally work together to set prices. • Competition can result in a price war.
- 16. Prestige Objectives • Establishing a relatively high price to develop and maintain an image of quality and exclusiveness. • Recognition of the role of price in communicating an overall image for the firm and its products. • Pricing is influenced by people in different areas of a company.
- 17. Breakeven analysis -pricing technique used to determine the minimum sales volume a product must generate at a certain price level to cover all costs.
- 19. Skimming Pricing • Setting an intentionally high price relative to the prices of competing products. • Helps marketers set a price that distinguishes a firm’s high-end product from those of competitors. Penetration Pricing • Setting a low price as a major marketing weapon. • Often used with new products. Everyday Low Pricing and Discount Pricing • Maintaining continuous low prices. • Discount pricing - attracting customers by dropping prices for a set period of time. Competitive Pricing • Reducing the emphasis on price competition by matching other firms’ prices. • Concentrating marketing efforts on the product, distribution, and promotional elements of the marketing mix.
- 20. Price-Quality Relationships • Consumers’ perceptions of quality closely tied to price. • High price = prestige and higher quality. • Low price = less prestige and lower quality. Odd Pricing • Setting prices in uneven amounts or amounts that sound less than they really are. – Example: $1.99 or $299.
- 21. Thanks you so much from ALI HAIDER