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Copyright © 2004 South-Western. All rights reserved.14–1 Learning Goals Explain promotion benefits. advertising personal selling sales promotion. public relations. select the optimal mix of promotion to use
Copyright © 2004 South-Western. All rights reserved.14–2 Promotion Promotion: Informing or reminding consumers about a specific product or brand Promotion Mix: Combination of promotion methods
Copyright © 2004 South-Western. All rights reserved.14–3 Advertising A nonpersonal sales presentation communicated through media or nonmedia forms to influence a large number of consumers Types of Advertising: Brand, Institutional, Industry Forms: Newspaper, Magazines, Radio, TV, Internet, SPAM, Direct Mail, Outdoor, Speciality
Copyright © 2004 South-Western. All rights reserved.14–4 Allocation of Advertising Expenditures Exhibit 14.2
Copyright © 2004 South-Western. All rights reserved.14–5 Personal Selling Personal sales presentation used to influence one or more consumers STEPS: Identify target market Contact potential customers Make the sales presentation Answer questions Close the sale Follow up
Copyright © 2004 South-Western. All rights reserved.14–6 Sales Promotion Activities intended to influence consumers’ purchase behavior –Rebates –Coupons –Sampling –Displays –Free Gifts (Premiums)
Copyright © 2004 South-Western. All rights reserved.14–7 Public Relations Actions taken with the goal of creating or maintaining a favorable public image –Special events (races, etc) –News releases (written) –Press conferences (oral) –PROBLEM????
Copyright © 2004 South-Western. All rights reserved.14–8 Develop a PR campaign for your company. –How can you get free air time or print inches for your business? –What “Stunt” can you do to get media attention? –What “news” can you announce about your business to attract attention?
Copyright © 2004 South-Western. All rights reserved.14–9 Summary of Methods That Make Up the Promotion Mix Exhibit 14.7
Copyright © 2004 South-Western. All rights reserved.14–10 Optimal Promotion Mix Factors Target market –Pull versus push strategy –Use marketing research to identify most favorable kinds of promotion Promotion budget depends on: –Phase of product life cycle –Competition –Economic conditions
Copyright © 2004 South-Western. All rights reserved.14–11 Comparison of Push and Pull Strategies Exhibit 14.8
Copyright © 2004 South-Western. All rights reserved.14–12 Group Time Rough Draft 2 Outline (Target Market, competitors, product, pricing, promo plan) Defined Target Market Promo Budget Library Research (10+ citations) Professionalism (grammar and detail)
Copyright © 2004 South-Western. All rights reserved.14–13 Target Market Gender Age Ethnicity Income Level Geographic Range Social Values Other
Copyright © 2004 South-Western. All rights reserved.14–14 Promotional Plan (Will go over next time) MediaCostFrequencyTotal per year Business Cards Signage Advertising Special Events Sales Promos Other TOTAL (Divide by 12 for monthly)
Copyright © 2004 South-Western. All rights reserved.14–15 Next Time Rough Draft 2 is due (Evaluation forms – on web site) NEXT: Chapter 6
Copyright © 2004 South-Western. All rights reserved.14–16 Quiz I 1. Name 2. Consumers purchasing connivance goods will shop around and compare quality and price of similar products. T/F 3. Demographic can be used to identify a target market, T/F 4. The size of a target market is most likely to change in response to a change in: a) Inflation b) consumer preferences c) interest rates d) the number of competitors e) the size of the largest competitor 5. (Fixed Cost) + (Quantity * Variable cost per unit describes: a) Total Cost b) Total Revenue c) Break-Even Point d) Profits e) Average Cost per Unit
Copyright © 2004 South-Western. All rights reserved.14–17 Quiz 1. Name 2. Retailers sell primarily to Wholesalers T/F 3. Distribution decisions do not affect the cost of delivering a product T/F 4. All of the following are examples of advertising except: a) direct mail b) outdoor ads c) personal selling d) online banner ads e) transportation ads 5. Which of the following is a public relations strategy in which an organization provides the media with a written statement: a) Special events b) press conference c) concert sponsorship d) direct mail e) news release
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Copyright © 2004 South-Western. All rights reserved.12–1 Rough Draft #2 Outline – Reference Sheet (works cited – to be CITED in the paper – footnote, or.
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