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Marketing Communications 1 Promotion Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response. 2 Differential Advantage High Product Quality Rapid Delivery Features that Provide Differential Advantage Low Prices Excellent Service Unique Features 3 Promotional Mix Combination of promotion tools used to reach the target market and fulfill Advertising the organization’s Public Relations overall goals. Sales Promotion Personal Selling Public Relations Word-of-Mouth 4 Advertising Impersonal, one-way mass communication about a product or organization that is paid for by a marketer. 5 Advertising Media Traditional Advertising Media Electronic Advertising Media Television Radio Newspapers Magazines Books Direct mail Billboards Transit cards Internet Electronic mail Interactive video 6 Advertising Advantages Reach large number of people Low cost per contact Can be microtargeted Disadvantages Total cost is high 7 Public Relations The marketing function that evaluates public attitudes, identifies areas within the organization that the public may be interested in, and executes a program of action to earn public understanding and acceptance. 8 Publicity Public information about a company, good, or service appearing in the mass media as a news item, which is free to the company. 9 Sales Promotion Free samples Contests Premiums Trade Shows Popular Tools for Consumer Sales Promotion Vacation Giveaways Coupons 10 Personal Selling Planned presentation to one or more prospective buyers for the purpose of making a sale. 11 Personal Selling Traditional Selling Relationship Selling 12 Characteristics of Advertising Advertising Communication Mode Indirect and non-personal Communication Control Low Feedback Amount Little Feedback Speed Delayed Message Flow Direction One-way Message Content Control Yes Sponsor Identification Yes Reaching Large Audience Message Flexibility Fast Same message to all audiences 13 Characteristics of Public Relations Public Relations Communication Mode Communication Control Feedback Amount Usually indirect, non-personal Moderate to low Little Feedback Speed Delayed Message Flow Direction One-way Message Content Control No Sponsor Identification No Reaching Large Audience Message Flexibility Usually fast Usually no direct control 14 Characteristics of Sales promotion Sales Promotion Communication Mode Communication Control Feedback Amount Feedback Speed Message Flow Direction Usually indirect and non-personal Moderate to low Little to moderate Varies Mostly one-way Message Content Control Yes Sponsor Identification Yes Reaching Large Audience Message Flexibility Fast Same message to varied target 15 Characteristics of Personal Selling Personal Selling Communication Mode Direct and face-to-face Communication Control High Feedback Amount Much Feedback Speed Message Flow Direction Immediate Two-way Message Content Control Yes Sponsor Identification Yes Reaching Large Audience Message Flexibility Slow Tailored to prospect 16 Goals and Tasks of Promotion Informing Reminding Target Audience Persuading 17 Product Life Cycle Growth Stage Maturity Stage Dollars Intro Stage Decline Stage Product Category Sales 0 18 Time Goals and Tasks of Promotion Informing PLC Stages: Introduction Early Growth PLC Stages: Growth Maturity Reminding PLC Stages: Maturity Target Audience Persuading 19 Goals and Tasks of Promotion Informative Objectives Increase awareness Explain how product works Suggest new uses Build company image 20 Goals and Tasks of Promotion Persuasion Objectives Encourage brand switching Change customers’ perception of product attributes Influence buying decision Persuade customers to call 21 Goals and Tasks of Promotion Reminder Objectives Remind customers that product may be needed Remind customers where to buy product Maintain customer awareness 22 Factors Affecting the Choice of Promotional Mix Nature of the Product Stage in PLC Target Market Factors Type of Buying Decision Promotion Funds Push or Pull Strategy 23 Sales ($) Product Life Cycle and the Promotional Mix Maturity Introduction Decline Growth Time -Light Advertising -Heavy Ads -PR for Awareness -PreIntroduction Publicity -Sales Promotion for Trial -Advertising and PR for brand Loyalty -Personal Selling for Distribution -Reminder Ads -Sales Promotion -Personal Selling -Ads & PR Decrease -Limited Sales Promotion -Personal Selling for 24 Distribution Target Market Characteristics FOR: Widely scattered market Informed buyers Repeat buyers Advertising Sales Promotion Less Personal Selling 25 Type of Buying Decision Routine Type of Buying Decision Affects Promotional Mix Choice Advertising Sales Promotion Advertising Not Routine or Complex Public Relations Complex Personal Selling 26 Push and Pull Strategies PUSH STRATEGY (Office Depot and Office Max) Manufacturer promotes to wholesaler Wholesaler promotes to retailer Retailer promotes to consumer Consumer buys from retailer Orders to manufacturer PULL STRATEGY (Coke and Pepsi) Manufacturer promotes to consumer Consumer demands product from retailer Retailer demands product from wholesaler Wholesaler demands product from manufacturer Orders to manufacturer 27