Lecture Session 4
- 2. What Is Promotion? Aspect of the marketing mix concerned with the most effective techniques for selling a product
- 3. Information and Exchange Values Promotions seek to accomplish four goals: Make potential customers aware of products Make them knowledgeable about products Persuade them to like products Persuade them to purchase products
- 4. Promotional Objectives Communicating Information Positioning Products Positioning is the process of establishing an identifiable product image in the minds of consumers Adding Value Controlling Sales Volume
- 5. Promotional Strategies Pull strategy appeals directly to consumers who will demand the product form retailers Push strategy encourages wholesalers or retailers to market products to consumers
- 6. The Promotional Mix Four types of promotional tools: Advertising Personal Selling Sales Promotions Publicity and Public Relations
- 7. The Target Audience: Promotion and the Buyer Decision Process Five stages in the buyer decision process: Buyers must recognize the need to make a purchase. Buyers want to learn more about available products. Buyers compare competing products. Buyers choose products and purchase them. Buyers evaluate products after purchase.
- 8. The Consumer Buying Process and the Promotional Mix
- 9. What Is Advertising? Promotional tool consisting of paid, nonpersonal communication used by an identified sponsor to inform an audience about a product
- 10. Advertising Strategies Awareness advertising aims to make consumer aware and knowledgeable about the Brand Persuasive advertising seeks to influence consumers to buy a company’s products rather than its rivals’ Such as Comparative advertising directly compares two or more products Reminder advertising helps to keep the product name in the consumer’s mind
- 11. What Is Advertising Media? Variety of communication devices for carrying a seller’s message to potential customers
- 12. Advertising Media Television Newspapers Direct Mail Radio Magazines Outdoor Advertising Internet Advertising Data Mining and Date Warehousing for Internet Advertising
- 13. What Is an Advertising Campaign? Arrangement of ads in selected media to reach targeted audiences
- 14. What Is an Advertising Agency? Independent company that provides some or all of a client firm’s advertising needs
- 15. What Is Personal Selling? Promotional tool in which a salesperson communicates one-on-one with potential customers
- 16. What Is Telemarketing? Use of telephone solicitations to conduct the personal selling process
- 17. Sales Force Management Sales force management means: Setting goals at the top levels of an organization Setting practical objectives for salespeople Organizing a sales force that can meet sales objectives Implementing and evaluating the success of the overall sales plan
- 18. Personal Selling Situations Retail selling is selling a consumer product for the buyer’s personal or household use Industrial selling is selling products to other businesses, either for the purpose of manufacturing other products or for resale
- 19. What Is a Sales Promotion? Short-term promotional activity designed to stimulate consumer buying or cooperation from distributors, sales agents or other members of the trade
- 20. Types of Sales Promotions Coupons are certificates entitling bearers to savings off regular prices Point-of-Purchase (POP) displays are used to grab customers’ attention as they move through stores Premiums are gifts given to consumers in return for buying a specified product Trade shows are sponsored by industries for members and customers Contests are used to induce sales among customers, distributors and sales representatives
- 22. What Is Publicity? Promotional tool in which information about a company or product that is transmitted by general mass media
- 23. What Is Public Relations? Company-influenced publicity directed at building goodwill with the public or dealing with unfavorable events