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1.Describe the communication model and the factors determining a promotional mix. 2.Explain methods of determining the appropriate level of promotional.

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Presentation on theme: "1.Describe the communication model and the factors determining a promotional mix. 2.Explain methods of determining the appropriate level of promotional."— Presentation transcript:

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2 1.Describe the communication model and the factors determining a promotional mix. 2.Explain methods of determining the appropriate level of promotional expenditures. 3.Explain how the Internet and social media are changing promotional practices. 4.Describe personal selling activities. 5.Identify advertising options for a small business. 6.Discuss the use of sales promotional tools. 17–2 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

3 The Communication Process in Promotion © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 17–3 Marketing communications that inform and persuade consumers Personal Selling Sales Promotional Tools Advertising

4 Promotion Is Communication PromotionPromotion Marketing communications that inform and persuade consumers Marketing communications that inform and persuade consumers Categories of Promotional CommunicationCategories of Promotional Communication Internet and social media Internet and social media Personal selling Personal selling Advertising Advertising Sales promotion tools Sales promotion tools 17–4 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

5 Promotional Communications Communication Process ComponentsCommunication Process Components Sourcethe message sender Sourcethe message sender Channelthe path the message travels Channelthe path the message travels Receiverthe recipient of the message Receiverthe recipient of the message Promotional MixPromotional Mix A blend of nonpersonal, personal, and special forms for communication techniques aimed at a target market. A blend of nonpersonal, personal, and special forms for communication techniques aimed at a target market. Makeup of the mix is determined by: Makeup of the mix is determined by: Geographical nature of target market Geographical nature of target market Size of promotional budget Size of promotional budget Products characteristics Products characteristics 17–5 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

6 Determining the Promotional Budget How much should a small business spend on promotion?How much should a small business spend on promotion? 1.Budgeting a fixed percentage of sales 2.Deciding how much is left over after other expenses are covered 3.Spending at the same level as competitors 4.Determining how much is needed to achieve objectives 17–6 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

7 Determining the Promotional Budget © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 17–7 Budgeting a fixed percentage of sales Determining how much is needed to achieve objectives Deciding how much is left over after other expenses are covered Approaches to Sales Promotion Budgets Spending at the same level as competitors

8 Determining the Promotional Budget © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 17–8 Budgeting a fixed percentage of sales Determining how much is needed to achieve objectives Deciding how much is left over after other expenses are covered Comparing Approaches to Sales Promotion Budgets Spending at the same level as competitors Choice of Promotional Budget Approach Setting of Promotional Spending Budget

9 Comparing Alternative Promotion Expense Estimates © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 17–9 Proceed to develop promotion at WTDJ level Compute WTDJ Is WTDJ equal to or less than others? Compute average of WTDJ, APS, WCS, and ACS Compare WCS with computed average Is WCS equal to or greater than average? Proceed to develop promotion at average level Seek additional funds to supplement promotion YES NO NOYES Key Terms: WTDJ: What it will take to do the job APS: A percentage of sales WCS: What can be spared ACS: As much as the competition spends START

10 Promotion Using the Internet and Social Media Developing a Small Business Web SiteDeveloping a Small Business Web Site Creating and registering a site name Creating and registering a site name Building a user-friendly Web site Building a user-friendly Web site Promoting the Web site Promoting the Web site Search Engine Optimization (SEO) Search Engine Optimization (SEO) Reasons for Website FailuresReasons for Website Failures Slow site page downloads Slow site page downloads Not meeting visitors information needs Not meeting visitors information needs Lack of integration with social media networks Lack of integration with social media networks 17–10 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

11 17–11 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Website Design Guidelines 17.1 o Select and register your domain name. Comply with registration rules, and choose a descriptive and user-friendly name. o Choose a Web host. Determine the primary purpose of your website, and then locate the host that best fits that purpose, such as e-commerce, blogging, business, or some other option. o Decide on the layout. Design a site that balances attractiveness with the ability to interact. o Provide easy navigation. Do not overload a page. Enable users to access any content with as few clicks as possible. o Stay consistent in style. Inconsistency in headings, fonts, page layouts, color schemes, and terms only confuses visitors and appears amateurish. o Make sure the website can be accessed by multiple devices. Users may also search for your company from smartphones and tablets, as well as desktops and laptops. o Engage in search engine optimization (SEO) to improve your websites visibility. o Keep the website fresh. Review your site frequently to remove outdated material, introduce new links, experiment with new formats, and make other changes. o Include a call to action. Think again about your purpose, and invite users to take the action you are seeking o Supply contact information for visitors to know who you are and how to get in touch with you. o Select and register your domain name. Comply with registration rules, and choose a descriptive and user-friendly name. o Choose a Web host. Determine the primary purpose of your website, and then locate the host that best fits that purpose, such as e-commerce, blogging, business, or some other option. o Decide on the layout. Design a site that balances attractiveness with the ability to interact. o Provide easy navigation. Do not overload a page. Enable users to access any content with as few clicks as possible. o Stay consistent in style. Inconsistency in headings, fonts, page layouts, color schemes, and terms only confuses visitors and appears amateurish. o Make sure the website can be accessed by multiple devices. Users may also search for your company from smartphones and tablets, as well as desktops and laptops. o Engage in search engine optimization (SEO) to improve your websites visibility. o Keep the website fresh. Review your site frequently to remove outdated material, introduce new links, experiment with new formats, and make other changes. o Include a call to action. Think again about your purpose, and invite users to take the action you are seeking o Supply contact information for visitors to know who you are and how to get in touch with you.

12 Website Essentials 1.A clear description of who you are 2.A simple, sensible Web address 3.An easily navigated site map 4.Easy-to-find contact information 5.Customer testimonials 6.An obvious call to action 7.Know the basics of Search Engine Optimization 8.Fresh, quality content 9.A secure hosting platform 10.A consistent design and style friendly to users 17–12 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

13 Social Media Social MediaSocial Media Social networking and microblogging websites, and other means of online communication, where users share personal messages, information, videos, and other content. Social networking and microblogging websites, and other means of online communication, where users share personal messages, information, videos, and other content. Social NetworkingSocial Networking Interacting online with other users who share common interests. Interacting online with other users who share common interests. MicrobloggingMicroblogging Posting short messages or photos on a blog or social networking site. Posting short messages or photos on a blog or social networking site. 17–13 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

14 17–14 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Dos and Donts of Social Media Marketing 17.2

15 Online Advertising Terms HyperlinkHyperlink A word, phrase, or image that a user may click on to go to another part of a document or website or to a new document or website. A word, phrase, or image that a user may click on to go to another part of a document or website or to a new document or website. BlogBlog An online journal that offers a writers experiences, opinions, etc. An online journal that offers a writers experiences, opinions, etc. Mobile DeviceMobile Device A variety of wireless handheld computing devices that allow people to access information from wherever they are. A variety of wireless handheld computing devices that allow people to access information from wherever they are. 17–15 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

16 Tips for Promoting Your Business on Smartphones Is your website mobile-friendlyIs your website mobile-friendly Can your website be found where mobile device users look?Can your website be found where mobile device users look? Have you started social networking communities?Have you started social networking communities? Do you chat with your customers and prospects?Do you chat with your customers and prospects? Are customers reviewing your business?Are customers reviewing your business? Are you giving your audience what they want?Are you giving your audience what they want? 17–16 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

17 Online Advertising Terms AppApp A software application for business or entertainment. A software application for business or entertainment. Quick Response (QR) CodeQuick Response (QR) Code A square bar code that connects to a website, a video, or some other web content. A square bar code that connects to a website, a video, or some other web content. QR code for the URL of the English Wikipedia Mobile main page, "http://en.m.wikipedia.org" QR code for the URL of the English Wikipedia Mobile main page, "http://en.m.wikipedia.org" 17–17 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

18 Web Advertising Basic Web PromotionsBasic Web Promotions Banner ads Banner ads Advertisements that appear across a Web page, often as moving rectangular strips Advertisements that appear across a Web page, often as moving rectangular strips Pop-up ads Pop-up ads Advertisements that burst open on computer screens Advertisements that burst open on computer screens Direct promotion Direct promotion Advertising delivered by means of electronic mail Advertising delivered by means of electronic mail Spam: unsolicited Spam: unsolicited 17–18 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

19 Web Advertising (contd) Basic Web Promotions (contd)Basic Web Promotions (contd) Web sponsorships Web sponsorships A type of advertising in which the firm pays another organization for the right to be part of that organizations Web page. A type of advertising in which the firm pays another organization for the right to be part of that organizations Web page. Linkages Linkages One firm pays another to include a click- on (click-through) advertising link on its Web site. One firm pays another to include a click- on (click-through) advertising link on its Web site. 17–19 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

20 Personal Selling in the Small Firm Personal SellingPersonal Selling A face-to-face meeting with a customer A face-to-face meeting with a customer A sales presentation (promotion) delivered in a one-on-one manner. A sales presentation (promotion) delivered in a one-on-one manner. Requires: Requires: Product knowledge Product knowledge Well-prepared sales presentation Well-prepared sales presentation Ability to build good will Ability to build good will 17–20 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

21 Importance of Product Knowledge Salespersons use product knowledge to:Salespersons use product knowledge to: Successfully educate customers about the products advantages, uses, and limitations. Successfully educate customers about the products advantages, uses, and limitations. Answer customer questions and counter customer objections. Answer customer questions and counter customer objections. Personal selling becomes order-taking when a salesperson lacks product knowledge.Personal selling becomes order-taking when a salesperson lacks product knowledge. 17–21 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

22 Personal Selling: Prospecting ProspectingProspecting A systematic process of continually looking for new customers A systematic process of continually looking for new customers Prospecting TechniquesProspecting Techniques Personal referrals Personal referrals Salesperson initiates customer contact through referral by another party known to the customer. Salesperson initiates customer contact through referral by another party known to the customer. Impersonal referrals Impersonal referrals Information on potential new customers developed from public records and published sources. Information on potential new customers developed from public records and published sources. Using social media websites to target niche circles of users Using social media websites to target niche circles of users 17–22 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

23 Personal Selling: Prospecting (contd) Prospecting Techniques (contd)Prospecting Techniques (contd) Marketer-initiated contacts Marketer-initiated contacts Market surveys are used to identify prospects Market surveys are used to identify prospects Customer-initiated contacts Customer-initiated contacts Potential customers are identified through their contacts with the firm. Potential customers are identified through their contacts with the firm. 17–23 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

24 17–24 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Successful Sales Techniques 17.3 o Be honest. Your prospect has to discover only one misrepresentation to lose all trust and confidence in you. You want customers who will come back to you and tell others how good you are. o Know your audience. Are you talking with the decision maker, or does this person need approval from someone else? How is your product or service used by this customer? o Know how much time you have, and get to the point. Many people recognize that time is their most valuable asset. Be sure to respect that. If you cant make clear in the first sentence or two why youre there, youll lose your prospects interest. o Prepare an outline, and rehearse. Be sure to cover all critical issues and logically order your presentation. Then test your ideas on others. Do they understand your message? o Be relevant, and engage the customer. Ask questions to know what is important to your prospective customers and how you can help them. Think of your presentation as a conversation. Be a better listener than a speaker. o Believe in what you are selling, and be enthusiastic. Be able to genuinely convey what makes your product or service better for the customer than anyone elses. But recognize that the worlds best salespeople still hear no more than yes. Do not let that burn you out. o Use visuals. Size, technology requirements, safety and other issues might limit your ability to show your product. Nevertheless, visual representations help project customers into a situation where they better understand what the product will do for them. o Get reactions from the prospect. If the prospect does not ask questions, it is a sign that you have not communicated your message successfully. Be ready with questions of your own, questions that will solicit more than yes-or-no answers. You want to know what is preventing you from getting the results that you seek. You want to know how to make the prospect happy.

25 Practicing the Sales Presentation Improves the salespersons success rate.Improves the salespersons success rate. Prepares salesperson for objections:Prepares salesperson for objections: Price, product, timing, source, service, or need. Price, product, timing, source, service, or need. Techniques for dealing with objections:Techniques for dealing with objections: Direct denial Direct denial Indirect denial Indirect denial Empathetic response Empathetic response Compensation method Compensation method Pass-up method Pass-up method Find true objection Find true objection Follow up and follow through Follow up and follow through 17–25 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

26 Overcoming Customer Objections © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. 17–26 I had problems with a similar product before and dont want to go through that again! Im too busy. I like what you have said, but I need to wait. Yes, I understand your concerns, but have you considered... ? Thats why I want to explain how I can save you time by... Lets figure how much you can save by acting now. Your product sounds just like your competitors. There are similarities, but we have... at a better price. Im not sure I can risk a changeover to your product. Let me tell you how a competitor decided to buy from me.

27 Making the Sales Presentation Adapting sales approach to customers needs:Adapting sales approach to customers needs: Avoid a canned sales talk. Avoid a canned sales talk. Speak the customers language. Speak the customers language. Answer every objection explicitly and adequately. Answer every objection explicitly and adequately. Be enthusiastic, friendly, and persistent. Be enthusiastic, friendly, and persistent. Be personally supportive of the customer. Be personally supportive of the customer. 17–27 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

28 Customer Goodwill and Relationship Selling Relationship SellingRelationship Selling Building customer goodwill for future sales to satisfied customers through: Building customer goodwill for future sales to satisfied customers through: Maintaining a good personal appearance. Maintaining a good personal appearance. Having a pleasant personality. Having a pleasant personality. Using professional etiquette in customer contacts. Using professional etiquette in customer contacts. Understanding the customers point of view. Understanding the customers point of view. Maintaining ethical standards in the relationship. Maintaining ethical standards in the relationship. 17–28 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

29 Cost Control in Personal Selling Reducing Selling CostsReducing Selling Costs Efficiently and economically schedule sales calls Efficiently and economically schedule sales calls Push products that contribute to sellers cost economies Push products that contribute to sellers cost economies Emphasize sales of high-margin products Emphasize sales of high-margin products Partner with outside sales and marketing representatives Partner with outside sales and marketing representatives 17–29 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

30 Compensation for Salespeople Nonfinancial RewardsNonfinancial Rewards Personal recognition of employees by the firm Personal recognition of employees by the firm Plaques and Employee of the Month awards Plaques and Employee of the Month awards Providing perks to superior performers. Providing perks to superior performers. Personal satisfaction drawn by salespersons from doing their work well. Personal satisfaction drawn by salespersons from doing their work well. 17–30 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

31 Compensating Salespeople Financial RewardsFinancial Rewards Commissions Commissions Compensation paid as percentage of sales productivity. Compensation paid as percentage of sales productivity. Strong sales motivator Strong sales motivator Straight salary Straight salary Compensation paid regardless of sales made. Compensation paid regardless of sales made. Combination of commissions and salary Combination of commissions and salary Balance of two compensation forms is adjusted to provide an increasing proportion of commission as salesperson gains experience. Balance of two compensation forms is adjusted to provide an increasing proportion of commission as salesperson gains experience. 17–31 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

32 Advertising Practices for Small Firms AdvertisingAdvertising The impersonal presentation of a business idea through mass media. The impersonal presentation of a business idea through mass media. Advertising ObjectivesAdvertising Objectives To sell by informing, persuading, and reminding. To sell by informing, persuading, and reminding. To serve as a complement to product quality and efficient service. To serve as a complement to product quality and efficient service. To properly reflect changes in customer needs and preferences. To properly reflect changes in customer needs and preferences. 17–32 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

33 Types of Advertising Product AdvertisingProduct Advertising The presentation of a business idea designed to make potential customers aware of a specific product or service and create a desire for it. The presentation of a business idea designed to make potential customers aware of a specific product or service and create a desire for it. Institutional AdvertisingInstitutional Advertising The presentation of information about a particular firm, designed to enhance the firms image in order to make its product advertising more credible and effective.. The presentation of information about a particular firm, designed to enhance the firms image in order to make its product advertising more credible and effective.. 17–33 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

34 Obtaining Assistance with Advertising Advertising AgenciesAdvertising Agencies Furnish design, artwork, and copy for ads Furnish design, artwork, and copy for ads Evaluate/recommend media with pulling power Evaluate/recommend media with pulling power Evaluate the effectiveness of advertising appeals Evaluate the effectiveness of advertising appeals Advise on promotion and merchandise displays Advise on promotion and merchandise displays Conduct market sampling studies Conduct market sampling studies Furnish mailing lists Furnish mailing lists Other SourcesOther Sources Suppliers Suppliers Trade Associations Trade Associations 17–34 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

35 Advertising Decision Factors Frequency of AdvertisingFrequency of Advertising With regularity for effectiveness and continuity With regularity for effectiveness and continuity Introduction of new uses for established products Introduction of new uses for established products Introduction of new products and services Introduction of new products and services Where to AdvertiseWhere to Advertise Appropriate media mix determined by: Appropriate media mix determined by: Geographical area for target market coverage Geographical area for target market coverage Customer type targeted by advertising campaign Customer type targeted by advertising campaign Advertising media customarily used by industry Advertising media customarily used by industry Type of business Type of business Web advertising on the World Wide Web (Internet) Web advertising on the World Wide Web (Internet) 17–35 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

36 17–36 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Advantages and Disadvantages of Major Advertising Media 17.4

37 Sales Promotional Tools Sales PromotionSales Promotion An inclusive term for any promotional technique other than personal selling or advertising that stimulates the purchase of a particular product or service. An inclusive term for any promotional technique other than personal selling or advertising that stimulates the purchase of a particular product or service. Used in combination with personal selling and advertising. Used in combination with personal selling and advertising. SpecialtiesSpecialties Tangible and enduring functional items of worth distributed personally to recipients that serve as reminders of the firm. Tangible and enduring functional items of worth distributed personally to recipients that serve as reminders of the firm. Pens, key chains, magnets, and clothing imprinted with the name, logo, or slogan of the firm. Pens, key chains, magnets, and clothing imprinted with the name, logo, or slogan of the firm. 17–37 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

38 Sales Promotion Tools (contd) Trade Show ExhibitsTrade Show Exhibits Provide hands-on experience with products at less cost than personal selling. Provide hands-on experience with products at less cost than personal selling. Making Trade Show Exhibits EffectiveMaking Trade Show Exhibits Effective Check out the trade shows history. Check out the trade shows history. Apply for a speaking opportunity. Apply for a speaking opportunity. Pick a good location for the booth. Pick a good location for the booth. Prepare a professional-looking display. Prepare a professional-looking display. Have plenty of literature on hand. Have plenty of literature on hand. Bring the right staff. Bring the right staff. Have the right giveaways and/or coupons. Have the right giveaways and/or coupons. Follow up! Follow up! 17–38 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. Millionaire by Morning Twofer Tool Sells Itself Guaranteed $$$

39 Sales Promotion Tools (contd) PublicityPublicity Is a promotional strategy that provides visibility for a business at little or no cost. Is a promotional strategy that provides visibility for a business at little or no cost. Requires regular contacts with the news media. Requires regular contacts with the news media. Can be used to promote both a product and a firms image. Can be used to promote both a product and a firms image. Is a vital part of public relations for the small business. Is a vital part of public relations for the small business. 17–39 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

40 Sales Promotion Tools (contd) When to Use Sales PromotionWhen to Use Sales Promotion For manufacturers For manufacturers To stimulate channel membersretailers and wholesalersto market a firms products. To stimulate channel membersretailers and wholesalersto market a firms products. For wholesalers For wholesalers To induce retailers to buy inventories earlier than they normally would. To induce retailers to buy inventories earlier than they normally would. For retailers For retailers To persuade customers to make a purchase. To persuade customers to make a purchase. 17–40 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.

41 Key Terms advertising app blog promotion hyperlink institutional advertising microblogging mobile device personal selling product advertising promotion promotional mix prospecting publicity quick response (QR) code sales promotion social media social networking 17–41 © 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.


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