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Principles of Marketing

Principles of Marketing

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Principles of Marketing

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Presentation Transcript

  1. Principles of Marketing Lecture-34

  2. Summaryof Lecture-33

  3. Advertising

  4. The Five M’s of Advertising

  5. Message Message generation Message evaluation and selection Message execution Social-responsibility review Money Factors to consider: Stage in PLC Market share and con- sumer base Competition and clutter Advertising frequency Product substituta- bility Mission Sales goals Adver- tising objectives Measure- ment Communi- cation impact Sales impact Media Reach, frequency, impact Major media types Specific media vehicles Media timing Geographical media allocation

  6. Major Advertising Decisions

  7. Objectives Setting Budget Decisions Message Decisions Media Decisions Campaign Evaluation

  8. Choose the Media

  9. Television Yellow Pages Newspaper Magazine Major Kinds of Media Direct Mail Outdoor Radio Internet

  10. Today’s Topics

  11. Advertising (cont..)Sales Promotion

  12. Media Scheduling

  13. Step 1. Decide on Reach, Frequency, and Impact Step 2. Choosing Among Major Media Types Step 3. Selecting Specific Media Vehicles Step 4. Deciding on Media Timing

  14. Setting the timing and sequence of a series of advertisements. • Sales patterns (seasonal), repurchase cycles, and competitors’ activities are the most important variables. • Advertisers use the concepts of reach, frequency, and gross rating points to measure the effectiveness of media scheduling plans.

  15. Reach: the number of different people or households exposed to an advertisement at least one during a certain time period. • Frequency: the number of times an individual person is exposed to an advertisement in a certain time. • Gross rating point: reach times frequency.

  16. Evaluating Advertising Effectiveness

  17. Pretesting Tools: Posttesting • Focus Groups • Screening • Persuasion Scores Tools: Sales Effectiveness Evaluations • Unaided Recall Tests • Aided Recall Tests • Inquiry Evaluations Tools: • Monitor Sales • Brand-to-Sales Effects

  18. Advertising Program Evaluation Communication Effects Is the Ad Communicating Well? Sales Effects Is the Ad Increasing Sales?

  19. Get Attention Hold Interest Arouse Desire Obtain Action What to communicate?

  20. Ways to Handle Advertising

  21. Sales Departments in Small Companies Advertising Departments in Larger Companies Advertising Agency

  22. Sales Promotion

  23. Sales Promotion is a Mass Communication Technique That Offers Short-Term Incentives to Encourage Purchase or Sales of a Product or Service. Offers Reasons to Buy Now.

  24. Sales Promotion Objectives

  25. Increase short-term sales or help build long-term market share. • Get retailers to: • carry new items and more inventory, • advertise products, • give products more shelf space, and • buy product ahead.

  26. In general, sales promotion should focus on consumer relationship building.

  27. Reasons for Increase inSales Promotion

  28. Growing Power of Retailers • Declining Brand Loyalty • Increased Promotional Sensitivity • Fragmentation of Consumer Markets • Short-Term Focus • Pressure from inside organization • Competition • Clutter

  29. Major Consumer Sales Promotion Tools

  30. Sample Trial amount of a product Savings when purchasing specified products Coupons Refund of part of the purchase price Cash Refunds Reduced prices marked on the label or package Price Packs Goods offered free or low cost as an incentive to buy a product Premiums Articles imprinted with an advertiser’s name given as gifts Advertising Specialties

  31. Price Deals Advertising Specialties Coupons Rebates Sampling Premiums Cross- Promotions Contests, Games, Sweepstakes Consumer Sales Promotion Techniques

  32. Price Deals Bargain! Value! Sale! Price-Pack Deals Cents-Off Deals

  33. Major Trade Sales Promotion Tools

  34. Discount • Allowance

  35. Objectives of Trade Promotions

  36. Avoid Price Reductions Gain/Maintain Distribution Avoid Price Reductions Gain/Maintain Distribution Influence Reseller Promotion Defend Against Competitors Influence Reseller Promotion Defend Against Competitors Influence Price Discount Increase Reseller Inventory Influence Price Discount Increase Reseller Inventory

  37. Trade Sales Promotion Techniques

  38. Trade Allowances Dealer Loaders Trade Contests Point-of-Purchase Displays Trade Shows Training Programs Push Money

  39. Developing the Sales Promotion Program

  40. Decide on the Size of the Incentive Set Conditions for Participation Determine How to Promote and Distribute the Promotion Program Determine the Length of the Program Evaluate the Program

  41. Sales Promotion Uses

  42. Introduce new products • Get existing customers to buy more • Attract new customers • Combat competition • Maintain sales in off season • Increase retail inventories • Tie in advertising and personal selling • Enhance personal selling efforts

  43. Limitations of Sales Promotion

  44. Cannot Reverse Declining Sales Trend Cannot Overcome Inferior Product May Encourage Competitive Retaliation May Hurt Profit

  45. Enough for today. . .

  46. Summary

  47. Media Scheduling

  48. Step 1. Decide on Reach, Frequency, and Impact Step 2. Choosing Among Major Media Types Step 3. Selecting Specific Media Vehicles Step 4. Deciding on Media Timing

  49. Evaluating Advertising Effectiveness

  50. Advertising Program Evaluation Communication Effects Is the Ad Communicating Well? Sales Effects Is the Ad Increasing Sales?