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FIGURE 14-1 The communication process shows that the only thing in common is the channel. 14-2 Communication: Meaning is transferred from one person to another Source Encoding Noise Message: the physical form of a communication Medium: communication vehicle TV Radio Internet Magazines Newspape Mail Billboards Flyers Person-to-person Decoding Promotion What are the objectives of promotion? Promotion Objectives 1. Create Awareness Promotion Objectives: 1. Create Awareness 2. Stimulate Demand Promotion Objectives: 1. Create Awareness 2. Stimulate Demand 3. Encourage Product Choice Promotion Objectives: 1. Create Awareness 2. Stimulate Demand 3. Encourage Product Choice 4. Identify Prospects (Customers) Promotion Objectives: 5. Retain Customers Promotion Objectives: 5. Retain Customers 6. Counter Competition Promotion Objectives: 5. Retain Customers 6. Counter Competition 7. Reduce Sale Fluctuations Promotion Objectives: 5. 6. 7. 8. Retain Customers Counter Competition Reduce Sale Fluctuations Persuade Promotion Objectives: 5. 6. 7. 8. 9. Retain Customers Counter Competition Reduce Sale Fluctuations Persuade Change Attitudes Promotion Objectives: 5. 6. 7. 8. 9. Counter Competition Reduce Sale Fluctuations Persuade Change Attitudes Educate Promotion Objectives: 5. Retain Customers 6. Counter Competition 7. Reduce Sale Fluctuations 8. Persuade 9. Change Attitudes 10. Educate 11. Facilitate Channels Promotional Mix The promotional mix: is the combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product, (2) persuade them to try it, and (3) remind them later about the benefits they enjoyed by using the product. 14-16 Promotional Mix FIGURE 14-2 The five elements of the promotional mix 14-18 Advertising Advertising: is any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor. 14-19 Advertising: Paid massed non-personal communication Personal Selling Personal selling: consists of the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision. 14-21 Personal Selling: Person-to-person communication Sales Promotion Sales promotion: is a short-term inducement of value offered to arouse interest in buying a good or service. 14-23 Sales Promotion: Short-term incentives and programs to encourage interest and the purchase of a product or service Public Relations Public relations: is a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockholders, suppliers, employees, and other publics about a company and its products or services. 14-25 Publicity Publicity: is a nonpersonal, indirectly paid presentation of an organization, good, or service. 14-26 Publicity (PR): Promotion through commercially significant vehicles of mass media, not paid for directly by sponsor Direct Marketing Direct marketing: is a promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. 14-28 Direct Marketing: Direct communications with targeted customers by phone, e-mail, mail, etc. Direct Marketing: Direct communications with targeted customers by phone, e-mail, mail, etc. eMarketing Promotional Mix How do we put all the parts of promotion together to obtain our goals? Integrated Marketing Communications (IMC) Integrated marketing communications (IMC) is the concept of designing marketing communications programs that coordinate all promotional activities— advertising, personal selling, sales promotion, public relations, and direct marketing—to provide a consistent message across all audiences. 14-35 Selecting the Promotional Mix Elements 1. Internal factors Resources Objectives of the firm or campaign Policies Selecting the Promotional Mix Elements 2. Market Characteristics Size Location Demographics http://www.census.gov/2010census/ Selecting the Promotional Mix Elements 3. Product Characteristics Life cycle Good/Service/Ideas Competition & Intensity of Coverage Product Usage Selecting the Promotional Mix Elements 4. Cost and Availability of Methods Social Media CPM Effective Hits Promotion goes through a life cycle just like products Introduction Stage Growth Stage Maturity Stage Decline Stage 14-40 FIGURE 14-3 Promotional tools used over the product life cycle of Purina Dog Chow 14-41 Push and Pull Push: Push product (or awareness) from production to customer Push Strategy A push strategy involves directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product. 14-43 Push and Pull Pull: Pull product (or awareness) up to customer (customer driven) Pull Strategy A pull strategy involves directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product. 14-45 FIGURE 14-4 A comparison of push and pull promotional strategies 14-46 FIGURE 14-5 The promotion decision process includes planning, implementation, and evaluation 14-47 DEVELOPING AN IMC PROGRAM 1. Who is the Target Audience? 14-48 DEVELOPING AN IMC PROGRAM 1. Who is the Target Audience? 2. What are the promotion objectives? Hierarchy of effects Awareness Interest Evaluation Trail Adoption 14-49 DEVELOPING AN IMC PROGRAM 3. Setting the Promotion Budget Percentage of Sales Budgeting Competitive Parity Budgeting • Matching Competitors • Share of Market All-You-Can-Afford Budgeting Objective and Task Budgeting 14-50 DEVELOPING AN IMC PROGRAM 4. Selecting the Promotional Mix 5. Designing the Promotion 14-51 DEVELOPING AN IMC PROGRAM 6. Scheduling the promotion 7. Executing the plan Pretesting Post testing IMC audit 14-52