* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Retail Promotion
Survey
Document related concepts
Neuromarketing wikipedia , lookup
Direct marketing wikipedia , lookup
Digital marketing wikipedia , lookup
Target audience wikipedia , lookup
Ambush marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Television advertisement wikipedia , lookup
Social media and television wikipedia , lookup
Social media marketing wikipedia , lookup
Marketing communications wikipedia , lookup
Audience measurement wikipedia , lookup
Marketing channel wikipedia , lookup
Advertising campaign wikipedia , lookup
Advertising management wikipedia , lookup
Ad blocking wikipedia , lookup
Advertising wikipedia , lookup
Transcript
Promotion The final “right” Six “rights” of merchandising Refers to the planning required to get the: Right product To the right place At the right time In the right quantity At the right price With the right promotions Promotion The element of the marketing mix that involves communicating with our customers Retail promotion includes any communication by a retailer that informs, persuades, and/or reminds the target market about any aspect of the firm Elements of the Retail promotional Mix Advertising Public Relations and Publicity Personal Selling Sales Promotions Visual merchandising Advertising Paid, non-personal communication transmitted through out-of-store mass media by an identified sponsor Differences between retailer and manufacturing advertising strategies Geographically concentrated target market Less able to utilize national media Advertising stresses immediacy Advertising stresses prices Ads display many products Media rates tend to be lower for retailers Typical retail advertising objectives Boost short term sales Increase customer traffic Developing/ reinforcing a store image Informing customers about goods and services or customer attributes Easing the job of sales personnel Develop demand for private brands Retail advertising advantages A large audience is attracted Low CPM A number of alternative media are available; retailer can match a medium to the target market Control over message content, graphics, timing, and size, so a standardized message in a chosen format can be delivered to the target audience. In print media, a message can be studied and restudied by the target market. Editorial content often surrounds an ad, possibly increasing its credibility or the probability it will be read. Self-service or reduced-service operations are possible. Retailer advertising disadvantages Standardized messages= no flexibility Some media require large investments Media may reach large geographic areas, leading to waste Long lead time of some media High throwaway rate of some media Brief/small commercials= little detail Media What different mediums do retailers use for advertising? Newspapers Daily Weekly Shopper papers Newspapers Telephone Directory “The yellow pages” Suitable for all types of goods and service-oriented retailers Direct mail Send ads to customers by mail or private delivery firms Radio Suitable for reaching the market area surrounding the retailer Suitable if market segments can be identified Television advertising Reach a definable market area surrounding the station Retailers of goods and services with wide appeal The internet Reaches a global audience Appropriate for all goods and services retailers Transit advertising Used in areas with mass transit systems Used by retailers near transit routes, especially those appealing to consumers Magazines Magazines Used by retailers with a national or regional presence Exceptional for image advertising Circulars and flyers Distributed in parking lots or to consumer homes Single neighborhood Restaurants, dry cleaners, service stations Types of Advertising Retailers can be classified by content and payment method Pioneer ads Competitive ads Reminder ads Institutional ads Payment method Pay own way Vertical cooperative advertising Horizontal cooperative advertising Planning cooperative advertising strategies What ads qualify, in terms of merchandise and special requirements? What percentage of advertising is paid by each party When an ads be run? In what media? Are there special provisions regarding message content? What documentation is required for reimbursement? Public Relations Any communication that fosters a favorable image for the retailer among its publics Publics include: consumers, investors, government, channel members, employees, and the general public Publicity A specific type of public relations A non-personal form of public relations whereby messages are transmitted through mass media, the time or space provided by the media is not paid for, and there is no paid sponsor Public relations objectives Increase awareness of the retailer and its strategy Maintain/improve cp