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Razzle Dazzle The Nature of Promotion Promotion LAP 2 Razzle Dazzle Objectives Explain the role of promotion in marketing. Describe types of promotional objectives. Objective Explain the role of promotion in marketing. need You’ve You created an exciting new iPhone application. promotion! You need potential customers to know: Your product exists What it will do for them Where they can purchase it How much it costs Promotion Basics Promotion— The element of marketing mix Can alsofunction bethe described as to marketing needed that encourages customers to goods, buy marketing communication because communicate information about to havesending certain or opinions it or involves aviews marketing message services, images, and/or ideas to a target audience to achieve a desired outcome Who Uses Promotion? Any organization with something to sell Large and small businessesExamples Who Uses Promotion? Any organization with something to sell Producers Government Special interest agencies groups Who Uses Promotion? Any organization with something to sell Intermediaries Individuals, (middlemen) such as political candidates Characteristics of Effective Promotion Persuasive—must convince customers that the product or company can satisfy specific needs Relevant—must be of interest to the target audience Appropriate—must “fit” the product Characteristics of Effective Promotion Factual—must not be misleading Repetitive—must create sustained interest Coordinated—must be in sync with other promotional messages Benefits of Promotion Increased Strong position Increased sales product/company customer loyalty awareness Improved Healthcare! Lower Taxes! Benefits of Promotion Increased Better informed, employment more satisfied customers opportunities • Jobs in promotion • Jobs in production Benefits of Promotion Increased media support—promotional dollars for: • Television • Radio • Newspapers • Magazines • Internet Promotion Costs Promotion costs can add up. Marketers plan ahead and create reasonable, appropriate budgets. Objective Describe types of promotional objectives. Promotion Objectives To inform Used to educate customers on how to use products How to be digital-ready: Usedused mostfor often Also older products for withnew newproducts uses Promotion Objectives To persuade Used to stimulate action Used most often with highly competitive products Often includes incentives Sometimes used to boost company image Promotion Objectives To remind Used most often to promote promotion a company A rather than an may aimproduct to achieve one, two, individual or all three of these Used to reinforce positive objectives. opinions that already exist Was it for a company or for a specific product? Choose one Did you find it relevant you’ve and appropriate? promotion seen in themeant pastto week. Was the promotion inform, to persuade, or to remind? How did it affect you as a consumer? Individuals such as political candidates use promotion to convince the public to agree with them or to vote for them. Sometimes, along with positive promotions about themselves, political candidates or parties include negative advertisements about their opponents in their promotional campaigns. These promotions aren’t illegal, but are they ethical? What do you think? Acknowledgments: Original Developers: Lelia Ventling and Sarah Bartlett Borich, MBAResearch Version 1.0 Copyright 2010 MBA Research and Curriculum Center Digital-based photography sources: Liquid Library Various images used in this presentation are ©2007 Liquid Library All rights reserved http://www.liquidlibrary.com Microsoft Clip Gallery Live Various clipart used in conjunction with PowerPoint 2003® Clip Art, Microsoft® All rights reserved. One Microsoft Way, Redmond, WA, USA http://dgl.microsoft.com Copyright: All photographic digital images on this CD are owned by the aforementioned photographic resources or their licensors and are protected by the United States copyright laws, international treaty provisions, and applicable laws. No title to or intellectual property rights to the images on this CD are transferred to you. These sources retain all rights and are not to be used, digitally copied, transferred, or manipulated in any way. To do so is a violation of federal copyright laws.