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Liz Kim PROMOTION PROMOTION Definition of Promotion Promotion involves communication about the product or service The communication aims to inform, influence, and persuade customers to buy or use a particular product. It can increase sales, attract new customers, encourage customer loyalty, encourage trials, and many more. Promotion is an element in the marketing mix What does promotion do? - Makes your product known - Helps sell the product - Makes more people want the product Advertising - control of message - can be used to build brand loyalty Personal Selling Public relations -It can grab customers’ attention and , customize messages, interact with the customers - establishes credibility for a product - achieved at a very low cost Sales promotion Direct Marketing -It focuses limited resources on targeted promotion, personalize the marketing message, and easily measure responses and successes. - encourages customers to trial a product or switch brands - effective at achieving a quick boost to sales Merchandising -It can maximize the effectiveness of retail distribution Sponsorship - promotes a new products - builds a new image Branding Branding is establishing an identity for a product that distinguishes it from competitors. The adoption of values, image, awareness, recognition, quality, features, benefits and name for a product. It differentiates the product from competition Examples of Successful Branding Kleenex: Whenever we see tissues, we call it Kleenex. LEGO: Plastic toy bricks Frisbee: whenever we see a flying disk, we call it Frisbee nowadays. Chap Stick: everyone calls it lip balm or chapstick, even if its not chap stick DVD: Any disks that play movies or storage files Competitive Advertising: Communicates the unique benefits of a product, and differentiates it from the competition. Ex) Samsung galaxy vs. IPhone Persuasive: seeks to entice consumers into purchasing specific goods or services, often by appealing to their emotions and general sensibilities Ex ) They are happy when they drink Guinness Informative : A promotional effort at generating interest in a good, service, or organization by providing consumers with information 5 M’s Mission: objectives Money: to pay for the campaign Message: to be delivered Media: choice of advertising media Measure: measuring the impact of the campaign 6 Main Advertising Media Print Media (Newspaper and magazines) Advantages: Widely read and it can target specific market segments Disadvantages: Short life and has low impact on people Television Advantages: Large audience and low cost per exposure Disadvantages: High cost and limited time space Radio Advantages: cheap and relatively mobile Disadvantages: limited impact and no vision 6 Main Advertising Media Cinema Advantages: High impact and can be specifically targeted Disadvantages: limited audience and may only be seen once Outdoors (billboards) Advantages: Repeatedly seen and targets particular area Disadvantages: Message can be too short, and is difficult to measure effectiveness Internet Advantages: Cheap, and easy to set up Disadvantages: Limited audience, and technical problems Two TV Commercials http://www.youtube.com/watch?v=3tI4CbCniB I&feature=relmfu This Old Spice commercial is the definition of a good commercial because you can watch it more than once without getting bored. It’s funny and guaranteed every time you watch it, you will laugh. Two TV Commercials http://www.youtube.com/watch?v=EMo6o0BtFG8 This is a competitive type of advertising. It compares the product with other products to inform the consumers of its differential advantages.