Presentation on theme: "Razzle Dazzle Promotion LAP 2 The Nature of Promotion."— Presentation transcript:
Razzle Dazzle Promotion LAP 2 The Nature of Promotion
Objectives Explain the role of promotion in marketing. Describe types of promotional objectives. Razzle Dazzle
Objective Explain the role of promotion in marketing.
You’ve created an exciting new iPhone application. You need potential customers to know: Your product exists Your product exists What it will do for them What it will do for them Where they can purchase it Where they can purchase it How much it costs How much it costs Your product exists Your product exists What it will do for them What it will do for them Where they can purchase it Where they can purchase it How much it costs How much it costs You need promotion!
Promotion Basics Promotion — marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome The element of the marketing mix that encourages customers to buy or to have certain views or opinions Can also be described as marketing communication because it involves sending a marketing message to a target audience
Any organization with something to sell Who Uses Promotion? Large and small businesses Examples
Any organization with something to sell Who Uses Promotion? Government agencies Special interest groups Producers
Any organization with something to sell Who Uses Promotion? Intermediaries (middlemen) Individuals, such as political candidates
Characteristics of Effective Promotion Persuasive —must convince customers that the product or company can satisfy specific needs Relevant —must be of interest to the target audience Appropriate —must “fit” the product
Characteristics of Effective Promotion Factual —must not be misleading Repetitive —must create sustained interest Coordinated —must be in sync with other promotional messages
Benefits of Promotion Increased sales Increased sales Strong position Strong position Increased customer loyalty Increased customer loyalty Improved Healthcare! Lower Taxes! Increased product/company awareness Increased product/company awareness
Benefits of Promotion Jobs in promotion Jobs in promotion Jobs in production Jobs in production Jobs in promotion Jobs in promotion Jobs in production Jobs in production Better informed, more satisfied customers Better informed, more satisfied customers Increased employment opportunities Increased employment opportunities
Benefits of Promotion Television Television Radio Radio Newspapers Newspapers Magazines Magazines Internet Internet Television Television Radio Radio Newspapers Newspapers Magazines Magazines Internet Internet Increased media support — promotional dollars for: Increased media support — promotional dollars for:
Promotion Costs Promotion costs can add up. Marketers plan ahead and create reasonable, appropriate budgets.
Objective Describe types of promotional objectives.
Promotion Objectives Used most often for new products Also used for older products with new uses New To inform Used to educate customers on how to use products How to be digital-ready:
Promotion Objectives Used most often with highly competitive products Often includes incentives To persuade Used to stimulate action Sometimes used to boost company image
Promotion Objectives Used to reinforce positive opinions that already exist To remind Used most often to promote a company rather than an individual product A promotion may aim to achieve one, two, or all three of these objectives.
Was it for a company or for a specific product? Did you find it relevant and appropriate? Was the promotion meant to inform, to persuade, or to remind? Was it for a company or for a specific product? Did you find it relevant and appropriate? Was the promotion meant to inform, to persuade, or to remind? Choose one promotion you’ve seen in the past week. How did it affect you as a consumer?
Individuals such as political candidates use promotion to convince the public to agree with them or to vote for them. Sometimes, along with positive promotions about themselves, political candidates or parties include negative advertisements about their opponents in their promotional campaigns. These promotions aren’t illegal, but are they ethical? What do you think?
Acknowledgments: Lelia Ventling and Sarah Bartlett Borich, MBA Research Version 1.0 Copyright 2010 MBA Research and Curriculum Center Original Developers:
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