Download Promotional Strategies

Promotional Strategies
Developing a Promotional Mix
Know these key terms
Image
News Releases
Pre-selling
Campaign
Sweepstakes
Promotional Mix
Advertising
Specialty Items
Incentives to buy
Media or Median
Publicity
Public Relations
Premiums
Rebates
Industry Averages
Cooperative Advertising
Agencies
Consumer Pre-tests
Prime Time
Image
Ideas, beliefs and impressions, (feelings)
that people have regarding a business or
product.
Image is important
Because consumers buy products for
rational and irrational reasons.
Pre-selling
Is promotional activity before consumers make a
decision. (Advertising & Public Relations)
Pre-selling / Advertising
through couponing, low price advertising,
rebates, sweepstakes, specialty items or
any giveaways, for customers, creates
“incentives to buy” .
A Campaign is
A series of promotional activities with one
particular theme.
Advertising is
A paid form of communication through a
median.
Prime Time
Refers to broadcast time, TV & Radio, when there
are usually the most viewers or listeners, TV:
8pm-10pm, Radio: 4pm-6pm (drive time) .
Public Relations is
Unpaid promotional activities in an effort to
create a positive image and goodwill.
Publicity is:
Placement of news releases in the media in
an effort to create a favorable image. 6080% of all news is created by PR people.
News releases are
Articles created by publicity or public
relations people sent to the media.
Sweepstakes are:
Games and contests in an effort to promote
attention about a business or product.
Rebates are:
Monetary incentives, after a purchase, sent
to a customer, returning part of the price.
Specialty Items are:
Items such as coffee cups, pens and t-shirts
displaying a company logo, telephone # or
address. This promotional business is
sometimes called the Trinkets and Trash
Trade.
A Promotional Mix is:
Advertising, Public Relations, Personal Selling,
Internet Marketing or any other Promotional
activity directed at a Target Market (TM).
When selecting a promotional mix,
businesses should consider:
The target market, type of business, cost,
product value, and time frames.
Industry Averages
% of advertising and promotion used in a particular
industry. This is often used as a determination
on how much to spend in promotion
Cooperative Advertising
Money supplied by producers to retailers to
promote their products.
Consumer Pre-tests
Businesses pre-view advertising to
consumers before running an ad
Agencies, advertising / public
relations
Charge by fee or charge a % of ad $ placed.
Standard advertising commission is 15%. Public
relation firms usually charge a fee on how many
news articles or broadcasts were created. Many
businesses choose an in-house approach.
Premiums are
Additions to a sale or a product. These can
be coupons, services or gifts: designed to
attract new customers or to build loyalty
among existing customers.
Media is the plural form of
Median
TV & Radio are Broadcast media,
Newspapers, Direct Mail and Magazines
are print media, Billboards and posters are
outdoor media.