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Marketing Mix

Marketing Mix. PROMOTION. This is the attempt to draw attention to a product or business in order to gain new customers or to retain existing ones. It includes all of the tools available to the marketer to communicate with the public. Advertising.

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Marketing Mix

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  1. Marketing Mix

  2. PROMOTION This is the attempt to draw attention to a product or business in order to gain new customers or to retain existing ones. It includes all of the tools available to the marketer to communicate with the public.

  3. Advertising This is a form of communication that typically attempts to persuade potential customers to purchase or to consume more of a particular product or service.

  4. Main advertising media:

  5. Television Billboard

  6. Blimps

  7. Magazines Radio

  8. Brochures

  9. Promotional Items

  10. Types of Advertising:

  11. Informative advertising Informative advertising is designed to increase customer awareness providing any information that the customer may need.

  12. Examples of Informative Advertising: Medicine Laptops/Computers Electronics Cars Student Activity: Why do advertisements for the above products need to be informative?

  13. Persuasive advertising Persuasive advertising uses techniques to convince consumers to purchase products. It often stresses that the product is more desirable than others.

  14. Homework: (1) Find and cut out ONE informative advertisement and ONE persuasive advertisement from a newspaper or magazine

  15. Homework: (2) Construct a table showing the advantages and disadvantages of Advertising

  16. Sales Promotion This refers to all other techniques used to encourage sales such as: Buy one, Contests/ Get one free Competitions

  17. Free sample Coupons

  18. Introductory offers (Free installation) Discounts

  19. Loss leaders These are products that are sold below cost price. Losses are made but the greater advantage is that it draws customers to the store and they may also buy other products.

  20. This is a company’s attempt to communicate with groups that form its ‘public’. The aim is to increase sales by improving the image of the firm and its products. Public Relations

  21. Groups that are included in a company’s ‘public’: Customers Suppliers Distributors Shareholders Trade Unions Banks

  22. EXAMPLE: • A new restaurant may advertise themselves as an introduction to the public. However, if an article is done in a newspaper of the new restaurant, customers may take it more seriously.

  23. EXAMPLE: • Press Conferences involve inviting journalists to a company presentation. New products may be launched and samples may be given out

  24. Some companies appoint a Publicity Manager. This is done to promote favourable press stories and also to respond to criticism

  25. Sponsorship. • This is popular in the sporting world. There is a link between certain companies and sporting events or sports personalities.

  26. Word of mouth

  27. This is the passing of information from person to person. A satisfied customer who recommends a product to a potential customer acts as an advertisement for the company’s products or service. Word of mouth

  28. For every three people willing to spread positive word there are thirty-three who will spread the negative. When past customers tell other people how great a service is, it makes people feel secure and safe. Testimonies can be used as a marketing tool.

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