Chapter 16 Today’s Promotional Techniques
Learning Goals • Promotion and the Promotion Mix • Advertising • Personal Selling • Public Relations • Sales Promotion • Overall Marketing Strategy
1) Promotion and Promotion Mix • Promotion- an effort by marketers to inform and remind people in the target market about products and to persuade them to participate in an exchange • Promotion Mix- The combination of promotional tools an organization uses: • Advertising, • Personal Selling, • Sales Promotion, • Public Relations
2) Advertising • Advertising- paid non-personal communication through various media by organizations and individuals who are some way identified in the advertising message • Most important media by money spent by companies (TV, Direct Mail, Newspapers…) • Advantages of: • T.V. for Mass marketing • Direct mail for accurate targeting of specific consumers
3) Personal Selling • Personal Selling- the face to face presentation and promotion of goods and services
Personal selling process • Prospect/Qualify • Pre-approach • Approach • Presentation • Objections • Close • Follow up
Consultative selling • Consultative Selling- Analyzing customer needs then coming up with solutions to fit those needs
4) Public Relations (PR) • Public Relations- The management function that evaluates public attitudes, changes policies and procedures in response to the public’s requests, and executes a program of action and information to earn public understanding and acceptance.
Publicity • Publicity- Any information about an individual, product or organization that’s distributed to the public through the media and that’s not paid for or controlled by the seller • Press Releases- Publicity release about the product
5) Sales Promotion • Sales Promotion : Stimulates consumer and dealer interest by means of short-term activities (for example, displays, free samples, coupons, special events) • Viral Marketing: making your customers your sales force and advertisers
6) Overall Marketing Strategy • Push Strategy- Promotional strategy in which the product uses advertising, personal selling, sales promotion, and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise. • Pull Strategy- Promotional Strategy in which heavy advertising and sales promotion efforts are directed toward consumers so that they’ll request the products from retailers.
Overall Marketing Strategy • Integrated Marketing Communication System- a formal mechanism for uniting all the promotional efforts in an organization to make them more consistent with each other and more responsive to that organization’s customers and other stakeholders. • Interactive Marketing Program- a system in which consumers can access company information on their own and supply information about themselves in an ongoing dialogue.