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Chapter 4.3

Chapter 4.3. promotion. Promotion. Selling is the exchange of a product or service for another item of equal or greater value. Different items can be sold. A physical or tangible item or product, such as a soccer ball, can be sold.

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Chapter 4.3

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  1. Chapter 4.3 promotion

  2. Promotion Selling is the exchange of a product or service for another item of equal or greater value. Different items can be sold. A physical or tangible item or product, such as a soccer ball, can be sold. So can the right to attend an event in the form of a ticket to a game. Selling with respect to marketing includes a number of other activities. Selling can involve determining the needs of customers and responding to those needs. Selling is also concerned with enhancing future business opportunities.

  3. Promotion is publicizing or advertising a product, service, or event with the goal of selling it. Promotion is information about the product, service, or event that is given to the consumer. The purpose of the information is to make the consumer want the product. People must know about something in order to want to buy it. Promotion leads to selling.

  4. Promotion Targets Attracting new markets and keeping old ones are equally important. The primary goal of promotion is to increase sales or attendance, either by finding new customers or persuading regular consumers to buy more. Promotion is a critical stage in winning new customers. Public image and community outreach are top priorities for professional sports. Professional sports leagues frequently conduct research to determine what type of impact they are making in the community.

  5. Maintaining customer satisfaction, loyalty, and repeat business is also a crucial goal of promotion. A related goal is increasing customers’ usage. Sporting event promoters often offer special prices for different groups, such as a half-price ticket for the first 500 people who show up wearing a team cap. For long-time supporters, promoters might offer an upgrade in season tickets or discounted parking.

  6. Promotional Objectives • Before spending money on a promotional campaign, the company must know exactly what it wants to accomplish. • First – the target market must be decided. • The company should choose the target market then research the five elements of market segmentation. • Demographic • Psychographic • Geographic • Product usage • Benefits derived

  7. Next – the company must decide on the message it wants to send with its campaign. Does the company want to persuade the customers to try a new product? Inform the customers about new or special features of an existing product? Create a new attitude about an existing product? or just broader awareness of a product?

  8. Finally – the company must determine what it wants consumers to do, whether that involves trying a new product, coming to a certain store or event, or buying more of something they already buy. Once these decisions are made, the company can go forward with its promotional plan.

  9. Promotional Tools A promotion plan has four elements: Personal Selling Advertising Publicity Sales Promotion

  10. Personal Selling Personal selling is an in-person, face-to-face communication between a seller and a customer It can be between a vendor and a business buyer, such as the representative of a sportswear manufacturer and the manager of a college bookstore, or between a retail store clerk and a customer. Personal selling is also illustrated by telemarketers. Personal selling has, as an advantage, the opportunity for the seller to overcome any hesitation on the part of the consumer, but, the seller must be familiar with the product and must want to sell it.

  11. Advertising Advertising is paid communication between the product maker or seller and the audience or customer. This should clearly explain the benefits of the product. Effective advertising should clearly explain the benefits of a good product. Advertising can occur almost anywhere and can reach millions of people quickly in both diversified and target markets.

  12. Publicity Publicity is any free notice about a product, service, or event. Examples would be articles in newspapers or magazines or “sound bites” on television or radio Publicity also means just keeping your name, event, or organization in public view through press releases, speeches, volunteer work, donations other than sponsorship, and letters to the editor.

  13. Sales Promotion • Sales Promotion includes any action of communication that will encourage a consumer to buy a product. • Usually, sales promotions are short-term “specials.” • Examples include: • Limited-time memberships to health clubs • Giveaways, • Coupons • Items with the company’s name printed on them • Free samples of a product

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