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Business & Marketing

Business & Marketing. Unit 6: Promotion. Business and Marketing. Unit 6: PROMOTION 2 nd Semester Mr. Schurig. Transition 17-1. With groups of 2 to 4 : Share and list the most interesting or outrageous stories you have witnessed or heard from a company promoting a new product.

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Business & Marketing

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  1. Business & Marketing Unit 6: Promotion

  2. Business and Marketing Unit 6: PROMOTION 2nd Semester Mr. Schurig

  3. Transition 17-1 • With groups of 2 to 4: • Share and list the most interesting or outrageous stories you have witnessed or heard from a company promoting a new product. • In your opinion, did the technique work? • Explain your answers • Title: Marketing Transition 17-1 • Save Word document as: Marketing-transition 17-1-filastname • Be prepared to share with the class

  4. Promotional Concepts and Strategies Chapter 17

  5. Sec. 17.1 – Promotion and the Promotion Mix • The role of promotion in marketing • The concept of promotional mix • The characteristics of personal selling and advertising • The nature and scope of publicity What you’ll learn

  6. Promotional Concepts & Strategies

  7. Promotion • Any form of communication a business or organization uses to inform, persuade, or remind people about its products

  8. Product Promotion • Used to convince customers to buy your products instead of those of the competition

  9. Institutional Promotion • Used by a business to create a favorable image for itself

  10. Promotional Mix – a combination of the different types of promotion • Personal Selling • Advertising • Direct marketing • Sales promotion • Public relations

  11. Personal Selling • Any form of direct contact occurring between a salesperson and a customer

  12. Advertising • Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor • Nationally, businesses spend about $200 billion annually on various types of advertising

  13. Direct Marketing • A type of advertising directed to a targeted group of prospects and customers rather than to a mass audience. • Printed direct mail, sent via regular mail to a home or business • Electronic direct mail • It’s goal is to generate sales or leads for sales representatives to pursue

  14. Sales Promotion • All marketing activities, other than personal selling, advertising, and public relations, that are used to stimulate consumer purchasing and sales effectiveness

  15. Public Relations and Publicity • Public Relations – any activity designed to create a favorable image toward a business, its products, or its policies

  16. PR Specialists • Write News Releases -- a prewritten story about a company that is sent to the various media

  17. Writing News Releases • First paragraph should answer Who, What, When, Where, and Why questions. • Develop important facts in next few paragraphs. • Less important information can follow but should be edited. • Include the full name and position of any people mentioned. • Include the name, address, and phone number of the contact person. • Be brief – only one or two pages. “###” at the bottom of the last page signifies the end.

  18. Public Relations and Publicity • Publicity – a specific kind of public relations that involves placing positive and newsworthy information about a business, its products, or its policies in the media.

  19. Because it is free, business often has the least control over publicity http://www.signonsandiego.com/uniontrib/20050503/news_1m3wankie.html To see negative publicity abut Hogle Zoo, click on the elephant To see positive publicity about Hogle Zoo, click on the baby Orangutan. http://www.deseretnews.com/article/600132516/Zoo-goes-ape-over-baby.html

  20. Coordination of Promotional Mix • Most businesses use more than one type • All types of promotion must be coordinated • Must consider the promotional budget

  21. Class Work: 17-1 • Textbook: • Page 368, 1 – 4 • Page 377, 20 – 21 • Save as: Marketing-CW 17-1-filastname • Researching Publicity • Page 378, #29 • Save as: Publicity-Research-filastname • Next Class: Finish Chapter 17

  22. Promotion Chapter 17

  23. Transition 17-2 755 • With groups of 2 – 4: • Brainstorm and list some of the types of promotions you encounter: • Discounts, coupons, gifts, free offers, etc. • How do these affect your buying decision? • How does the promotion affect your feelings toward the business? • Would you be likely to buy from that business without a promotion? • Save as: Marketing-promotions 17-2-filastname

  24. Types of Promotions: • Coupons • Premiums (Free offers) • Limited price discounts • Rebates • Product Samples

  25. Sec. 17.2 – Types of Promotion What you’ll learn • The characteristics of sales promotion • The concept of trade promotions • The different kinds of consumer sales promotions

  26. Sales Promotion Incentives that encourage customers to buy products or services

  27. Trade Promotions – Designed to gain manufacturers’, wholesalers’, and retailers’ support for a product

  28. Types of Trade Promotions • Promotional Allowances – a cash payment or discounts given by manufacturers to wholesalers or retailers for performing activities to encourage sales.

  29. Types of Trade Promotions • Cooperative Advertising – A manufacturer supports the retailer by helping to pay for the cost of advertising its product locally.

  30. Types of Trade Promotions • Slotting Allowances – a cash premium paid for placing a product on a retailer’s shelves

  31. Types of Trade Promotions • Sales Force Promotions – awards given to managers and employees who successfully meet or exceed a sales quota.

  32. Types of Trade Promotions • Trade Shows and Conventions The Consumer Electronics Show is held annually in Las Vegas. Check it out by clicking on the image.

  33. Consumer Sales Promotions – designed to encourage customers to buy a product

  34. Types of Consumer Promotion • Coupons – certificates that entitle customers to cash discounts on goods or services.

  35. Types of Consumer Promotion • Premiums – low-cost items given to consumers at a discount or for free – Should: • be low-cost • provide added value • negate the target audience’s price issue • effectively differentiate the product from the competition • create an immediate need to buy

  36. Types of Premiums • Factory packs (in-packs) – free gifts placed in product packages

  37. Types of Premiums • Traffic builders – pen, calendar, key-chain given free for visiting or attending event

  38. Types of Premiums • Coupon plans – ongoing program offering a premium in exchange for labels, coupons or other tokens from one or more purchases.

  39. Incentives – generally higher-priced products earned and given through contests, sweepstakes, and rebates • Contests – activities that require demonstration of a skill • Sweepstakes – game of chance

  40. Incentives • Rebates – discounts offered to customers who purchase

  41. Product Samples • Free, trial-size sample • Distributed through mail, door-to-door, or at a retail or trade show • Especially important with new products

  42. Sponsorship • The sponsoring company pays a fee for the right to promote itself and its products or services at or on a set location • May negotiate the right to use logos and names on retail products

  43. Promotional Tie-In • Involves arrangements between one or more retailers or manufacturers. Ex: McDonald’s and Fisher-Price Toys

  44. Product Placement • Featuring a product at a special event, on television, or in the movies Click on the “Pieces Icon” to learn about the history of product placement.

  45. Loyalty Marketing Programs • Frequent buyer programs • Reward customers for making multiple purchases

  46. Point-of-Purchase Displays • Placed in high-traffic areas and promote impulse purchases.

  47. Class Work & Home Work 17-2 • Textbook: • Page 375, 1 – 4 • Page 377, 22 – 24 • Workbook: • Page 141 - 142 • Save as: Marketing-CW 17-2-filastname • Chapter 17 Activity Packet and Quiz

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