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Marketing Mix

Marketing Mix. Promotion Strategy. Basic Communication Model. Sender. Encodes. Message. Media. Decodes. Receiver. Noise. Response. Feedback. Integrated Marketing Communication (IMC)

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Marketing Mix

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  1. Marketing Mix Promotion Strategy

  2. Basic Communication Model Sender Encodes Message Media Decodes Receiver Noise Response Feedback

  3. Integrated Marketing Communication (IMC) “…the strategic, coordinated use of promotional elements to ensure maximum persuasive impact on the firm’s current and potential customers.” Reasons that IMC is important: Fosters long-term relationships Reduces or eliminates promotional redundancies Cost benefits Technology allows better targeting of customers Direct mail, e-mail, online promotion Integrated Marketing Communication

  4. Promotional Elements Used in IMC

  5. Roles of IMC • Inform, Persuade, Remind, Reassure, Stimulate Action

  6. Developing Effective Marketing Communications Cost-Effectiveness of Different Promotional Tools at Different Buyer-Readiness Stages

  7. IMC must have clear promotional goals and objectives The AIDA Model Attention Interest Desire Action Strategic Issues in IMC

  8. Push vs Pull Strategies • Push – integrated marketing communication directed at members of the supply chain; “push” the product through the channel • Pull – integrated marketing communication directed at final customers; “pull” customers in to request the product

  9. Promotion Strategy Over the PLC

  10. Types of Advertising Institutional advertising Advocacy advertising Product advertising Pioneer, Competitive, Reminder, Reinforcement Determining the Advertising Budget Objectives and task approach Percentage of sales approach Competitive matching approach Arbitrary approach Advertising

  11. Advertising Budget

  12. Methods Evaluating the achievement of advertising objectives Assessing the effectiveness of advertising copy, illustrations, and layouts Evaluating the effectiveness of various media REMEMBER: R.F.I Timing of Evaluation Pretest During campaign Posttest Evaluating Advertising Effectiveness

  13. Public Relations Methods Negative Public Relations Tylenol, Ford Explorer-Firestone, Martha Stewart, Microsoft, Enron Public Relations

  14. The Sales Management Process Developing Sales Force Objectives Determining Sales Force Size Recruiting Salespeople Training the Sales Force Controlling and Evaluating the Sales Force The Impact of Technology on Personal Selling Personal Selling andSales Management

  15. Comparison of Sales ForceCompensation Methods

  16. Coupons Rebates Samples Loyalty programs Point-of-purchase promotion Premiums Contests and sweepstakes Sales Promotion in Consumer Markets

  17. Trade allowances Free merchandise Training assistance Cooperative advertising Selling incentives Display assistance Sales Promotion in Business Markets

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