The Promotion Potion I can understand the tools and objectives of promotion Pssst…. That looks like Mrs. D

Selling Generally selling is the exchange of a product or service for another item of equal value (money) In marketing selling is determining the needs of the customer and responding to those needs. It is planned, personal communication

Promotion is: -publicizing a product, service, or event with the goal of selling it. -information about the p.s.e. given to the consumer The purpose of the information is to get people to want to buy the product Promotion leads to selling

Examples of Promo

Promotional Targets Increase sales (duh!) Increase sales (duh!) Attract new markets and keep old ones (satisifaction) Attract new markets and keep old ones (satisifaction) Increase usage Increase usage Public image/ community outreach Public image/ community outreach

Promo Objectives Before spending money a company must: Before spending money a company must: 1. Know what it wants to accomplish 2. Decide on a target market and research the 5 elements of market segmentation (demographics, psychographics, geographics, benefits derived, product usage) 3. Decide on the message it wants to send (persuade, inform, create an attitude, broaden awareness) 4. Determine what it wants the customers to do (try it out, buy more, come to an event) (try it out, buy more, come to an event)

Promotional Tools Promotion plan/ promotion mix (or Mrs. D would say The Promotion Potion ) Has four elements: 1. Personal selling 2. Advertising 3. Publicity 4. Sales Promotion

Personal Selling Face-to-face communication between a seller and a customer Face-to-face communication between a seller and a customer Advantage: seller has the opportunity to overcome customer hesitation Advantage: human interaction helps make the sale (customers may return for future sales) A seller must: have info on the product and want to sell it

Advertising Paid communication between seller and the customer Paid communication between seller and the customer Effective ads should clearly explain the benefits of the product Effective ads should clearly explain the benefits of the product Advantage: reaches millions of people quickly in diverse markets Warning: even the best ads won’t bring customers back to buy a bad product

Publicity Free notice about a p/s or event Free notice about a p/s or event Example: newspapers, magazines, tv/ radio mentions Also: keeping your name in view through press releases/ volunteer work

Sales Promotion Any action that will encourage consumers to buy a product Usually short-term specials Examples: limited-time memberships, coupons, give-a-ways, free samples PS. Mrs. D loves the free samples at the cookie co.