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MARKETING 4.01 Acquire a foundational knowledge of promotion to understand its nature and scope. 1 Discussion??? • What is the most memorable advertisement you’ve seen recently? • Discuss with table mates; be ready to discuss with class. 2 What is this commercial promoting??? 3 http://www.youtube.com/watch?v=mI0ff3iO3n0 The Role of Promotion • Promotion- any form of communication a business or organization uses to inform, persuade, or remind people about its products and improve its public image. • Product promotion - used to convince potential customers to buy products from it instead of from a competitor. – Explains major _________ and benefits of its products – Tells where those products are sold – Advertises sales on those products – Answers customer questions – Introduces new products Example? 4 The Role of Promotion • In which stage of a product’s life cycle do promotional activities focus on differences between competing products? – Growth 5 The Role of Promotion • What is an example of an external factor that affects promotion? – Government regulation of ads • Zoning laws determine billboard locations • Can’t lie about product – fraud • Restrict advertising to children – Children are impressionable, and the wrong kinds of advertising can affect their development • Stereotype - A generalization, usually exaggerated or oversimplified and often offensive, that is used to describe or distinguish a group. Example? 6 The Role of Promotion • Materialism is interest in and desire for money, possessions, etc, rather than spiritual or ethical values – Example? 7 The Role of Promotion • Institutional Promotion- used to create a favorable image for the business. Does not directly sell a certain product. However, may ultimately result in increased sales of a company’s products. • An objective of institutional promotion is to demonstrate the organization’s role in community affairs. 8 ACTIVITY 1 • Get with your 7 o’clock appointment • Fill in the blanks for 6-11 - 4 types of promotion. • You have 10 minutes! 9 Four Types of Promotion 1. Advertising - any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. Example? 10 Four Types of Promotion 2. Publicity - placing newsworthy information about a company, product, or person in the media. Form of Public Relations – Can be used to promote particular events and promote particular products. – The main purpose of publicity is to build an image. Image - the way a business or organization is defined in people’s minds. Example? 11 Four Types of Promotion 3. Sales Promotion - All marketing activities, other than personal selling, advertising, and publicity, that are used to stimulate consumer purchasing and sales effectiveness. • Objectives of Sales Promotion – Increase sales – Inform customers about new products – Create a positive store or corporate image • 3 Characteristics of Sales Promotion – Short term activities – Offers some type of incentive 12 – Can be successfully used in all channels of distribution Four Types of Promotion 4. Personal Selling - making an oral sales presentation to one or more potential buyers. On a per contact basis, personal selling is the most expensive form of promotion. – Order-taking personnel – Order-getting personnel – Personal selling is generally emphasized for complex, technical products sold to industrial users. 13 Four Types of Promotion • Promotional Mix - a combination of different types of promotion. A business decides on a promotional mix that will be most effective in persuading customers or other businesses to purchase and support the business’s products. – Competition- Competing businesses within the same industry usually react to each other’s promotional mixes by playing follow the leader. 14 ACTIVITY 2 • Get with your 11 o’clock • Complete 4.01 promotional mix match up • You have 5-10 minutes! 15 Public Relations • Any activity designed to create goodwill toward a business. • Benefits of PR – Increasing sales – Increasing firm’s good reputation – Increasing customers reception of advertising messages – Spreading accurate information to the public – Conditioning customers to expect quality products from the company – Reducing the impact of problems – Helping to obtain better treatment from government 16 Public Relations • News Release - a pre-written story about the company that is sent to various media for publication. – Hard News - information that should be announced right away because the public will want to know about it immediately – Soft News - information that does not need to be announced immediately because it will be of as much interest to the public later as it is now 17 Public Relations Press Kit - a folder containing articles, news releases, feature stories, and photographs about a company, product, or person. Press Conference - a meeting in which media members are invited by the business or organization to hear an announcement about a newsworthy event. 18 Technology in Promotion • New technology enables businesses to create individualized messages that impact their promotional mix. • Information can be communicated by more venues and messages can be customized. – Example? 19 International promotional activities • A business must understand that the laws governing promotional activities vary by country. 20 ACTIVITY 3 Get into groups of 4 • Pick a company of your choice and a country you want to promote them in that is not English speaking. Develop a mini international promotional mix plan for the business. Include the following: • What are 3 promotional laws that your int’l country has? How does your promotion fit within those laws? • Describe at least one way you will use each of the following promotion types. • Come up with a sample international advertisement that will appeal to your target audience. • Put all your findings in powerpoint form and print out as handouts – 6 to a paper. 21