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Download Spread the Word (Nature of the Promotional Mix)
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SPREAD THE WORD (NATURE OF THE PROMOTIONAL MIX) Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center SO WHAT? To attract new customers, Katie needs to promote her business. Classified advertisement Newspaper story Door-to-door selling Free products Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center PROMOTION’S PURPOSE Tell or Inform Persuade Remind Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center MARKETING COMMUNICATION CHANNELS Advertising Personal selling Publicity Sales promotion Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center PROMOTIONAL MIX The specific combination, or blend, of marketing communication channels that a business uses to send its messages to customers Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center ADVERTISING What is it? How is it used? When does it work best? What are its advantages? What are its disadvantages? What are some examples of advertising? Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center PERSONAL SELLING What is it? What is one of its disadvantages? What are its advantages? Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center PUBLICITY What is it? What are its disadvantages? What are its advantages? What are some examples of publicity? Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center SALES PROMOTION What is it? What are some examples of sales promotion? What are its advantages? How is it used when promoting to intermediaries? What are its disadvantages? Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center IMPORTANCE OF THE PROMOTIONAL MIX Plays a key role in obtaining customers Enables businesses to communicate effectively with customers Drives sales Helps company to reach objectives and goals Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center FACTORS AFFECTING THE PROMOTIONAL MIX Product being sold Product’s target market Channels of distribution Product’s company Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center PRODUCT CONSIDERATIONS Type of product Stage of the product life cycle Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center TARGET MARKET CONSIDERATIONS Type of customer Number of customers Geographic location of customers Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center DISTRIBUTION CHANNEL CONSIDERATIONS Multiple intermediaries Direct to ultimate consumer Promotional strategies Push Pull Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center COMPANY CONSIDERATIONS Historical perspective Available funds Competition Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center MAKE IT PAY! Think of three products: Convenience Shopping Specialty How are they promoted? How are their promotional mixes similar and different? Why? Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center THE GRAY ZONE Is it ethical for businesses to track Foursquare users and offer sales promotions via smartphones to everyone who checks in nearby? Should firms target their specials solely at their own customers? Why? Draft: For Discussion Only PR LAP 1 © 2011, MBA Research and Curriculum Center
