PROMOTION LECTURE FOR LINKED IN
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This document provides an overview of marketing promotion concepts for a marketing class. It defines promotion as different from advertising and outlines various promotional strategies including advertising types, sales promotion techniques, and personal selling approaches. Key points covered include the different elements of the promotional mix, objectives of promotional strategies, and definitions of advertising, sales promotion, and personal selling.
PROMOTION LECTURE FOR LINKED IN
- 1. Sample slides for Prof.Shanks MKTG class • Welcome to the start • Lets start with a quick question
- 2. Promotion is the same as advertising. a. True b. False Answer: B Test Your Knowledge
- 3. Comparing the Elements of the Promotional Mix
- 5. Product placement: A form of promotion where marketers pay placement fees to have their products featured in various media, from newspapers and magazines to television and movies Guerilla marketing: Innovative, low-cost marketing efforts designed to get consumers’ attention in unusual ways. Promotional Planning
- 6. Advertising: Paid nonpersonal communication usually targeted at large numbers of potential buyers Advertising expenditures are great; automotive, retail, and telecommunications firms spend the most on advertising in North America Carmakers spend $20 billion on advertising yearly. Consumers are bombarded with many messages. Firms need to be more and more creative and efficient at attracting customers’ attention. Advertising
- 7. Product advertising: Messages designed to sell a particular good or service Institutional advertising: Messages that promote concepts, ideas, or philosophies. It can also promote goodwill toward industries, companies, organizations, or government entities Cause advertising: A form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the political process Avon Foundation Types of Advertising
- 8. Informative advertising is used to build initial demand for a product in its introductory phase. Persuasive advertising attempts to improve the competitive status of a product, institution, or concept, usually in its growth and maturity stages. Comparative advertising compares products directly with their competitors, either by name or by inference. Reminder-oriented advertising maintains awareness of the importance and usefulness of a product in its late maturity or decline stages. Advertising and the Product Life Cycle
- 10. Television Easiest way to reach a large number of consumers Leading, but most expensive, advertising medium Newspapers Dominate local advertising Relatively short life span Radio Commuters in cars are a captive audience Internet radio offers new opportunities Types of Advertising Magazines Consumer publications and trade journals Can customize message for different areas of the country (local ads, wraparounds) Direct Mail Average North American receives 550 pieces annually High per person cost, but can be carefully targeted and highly effective Outdoor Advertising Billions spent annually in North America Requires brief messages
- 11. Online and interactive advertising Widgets (or gadgets) are small television screen images carrying marketing messages; contain embedded links to home sites. Viral advertising creates a message that is novel or entertaining enough for consumers to forward it to others Sponsorship: Providing funds for a sporting or cultural event in exchange for a direct association with the event Exposure to target audience Association with image of the event Other media options Marketers look for novel ways to reach customers Infomercials: A form of broadcast direct marketing; 30-minute programs resemble regular TV programs, but sell goods or services ATM commercials/receipts Directory advertising Types of Advertising
- 12. Sales promotion: Forms of promotion such as coupons, product samples, and rebates that support advertising and personal selling Sales Promotion
- 13. Premiums, coupons, rebates, samples Marketers generally choose free/reduced price premiums likely to get consumers thinking and caring about a brand and product. Coupons attract new customers, but focus on price rather than brand loyalty. Rebates increase purchase rates, promote multiple purchases, and reward product users. Three of every four consumers who receive a sample will try it. Games, contests, sweepstakes Introduction of new products. Offer cash, merchandise, or travel as prizes to participating winners. Subject to legal restrictions. Specialty advertising Promotional items that prominently display a firm’s name, logo, or business slogan. Consumer-Oriented Promotions
- 14. Sales promotion geared to marketing intermediaries, note to final consumers Encourage retailers To stock new products To continue carrying existing ones To promote both new and existing products effectively to consumers Point-of-purchase (POP) advertising Trade shows Trade-Oriented Promotions
- 15. A person-to-person promotional presentation to a potential buyer Many companies consider personal selling the key to marketing effectiveness. A seller matches a firm’s goods or services to the needs of a particular client or customer. Businesses often spend five to 10 times as much on personal selling as on advertising. Firms focus on personal selling under four conditions: 1. Few, geographically concentrated customers 2. Product is technically complex, involves trade-ins, or requires special handling 3. Product carries a relatively high price 4. Product moves through direct-distribution channels Personal Selling
- 16. Order processing: A form of selling used mostly at the wholesale and retail levels; involves identifying customer needs, pointing out products that meet those needs, and completing orders Creative selling: A persuasive type of promotional presentation Promotes a good or service whose benefits are not readily apparent or whose purchase decision requires a close analysis of alternatives Missionary selling: An indirect form of selling in which the representative promotes goodwill for a company or provides technical or operational assistance to the customer Telemarketing: Personal selling by telephone, which provides a firm’s marketers with a high return on their expenditures, an immediate response, and an opportunity for personalized two-way conversation Sales Tasks