What are the five steps of developing a promotional plan? Bell Ringer

Bell Ringer Answer 1.Identify the target market 2.Set a measurable goal 3.Develop a budget 4.Select the promotional mix. 5.Measure the results

Agenda Attendance / Announcements Chapter 11.2 Vocabulary Words 11.2 Lecture and Discussion

Table of Contents TopicPage # Promotions in Sports and Entertainment 20 Virtual Business Lesson 3 Vocabulary and Questions21 Bell Ringers – 12/16 – 12/2022 Chapter 10.2 Vocabulary Words, Notes, and Marketing Math 23 Virtual Business Lesson 4 Questions24 Virtual Business Lesson 4 Vocabulary25 Chapter 10.3 Vocabulary Words, Notes, and Marketing Math 27 Virtual Business Lesson 5 Questions28 Virtual Business Lesson 5 Vocabulary29 20 Most Unforgettable Ads30 Chapter 11.1 Vocabulary Words and Notes31 Virtual Business Lesson 6 Questions32 Virtual Business Lesson 6 Vocabulary Words33 Cereal Box Sketch34 Chapter 11.2 Vocabulary Words and Notes35

34 31 Chapter 11.2 Vocabulary and Notes Page 288 Sponsorship Sponsor Federal Trade Commission Endorsement Chapter 11.2 Notes Notes Cereal Box Sketch Sketch

Opening Act O’Reily Auto Parts has grown from a single store to more than 1,500 stores in 25 states and is still adding multiple stores each year. The company generated more than $2 billion in revenues last year. It has a dual marketing strategy, serving both wholesale and retail automotive parts businesses. O’Reilly’s promotional plans include radio, print, and television ads and national sponsorships of the National Hot Rod Association and Nascar. O’Reilly participates in more than 1,200 racetrack events each year. O’Reily also sponsors college sports as a corporate partner of the Texas Tech Red Raiders. Coaches wear a shirt with O’Reilly’s logo during the games.

Sponsors A sponsor is a person, organization, or business that gives money or donates products and services to another person, organization, or event in exchange for public recognition. Sponsors help pay the cost of providing events to the fans and help keep ticket prices affordable.

Examples of Sponsors

Reasons for Sponsorships Increase sales and profits Introduce a new product or service to a large audience Be identified with an event in which the target market is interested Earn the goodwill of the audience by showing a commitment to the community Entertain clients, employees, or potential customers Enhance the company’s image Enter new markets or a niche market

Endorsements An endorsement is a person’s public expression of approval or support for a product or service. – The FTC defines endorsements as ‘any advertising message that consumers are likely to believe reflects the opinions, beliefs, findings, or experience of a party other than the sponsoring advertiser.’

Endorsement Example

Endorsement Examples Most Expensive Celebrity Endorsements Top 10 Athlete Endorsements

Legal Restrictions on Endorsements 1.The truthful opinions and beliefs of the endorser must be expressed in the endorsement. 2.The endorser must have real experience with the product. 3.The endorsements may not contain any deceptive or misleading statements. 4.Endorsements may not be presented out of context or reworded so to distort the endorser’s opinion. 5.The endorser must use, continue to use, and believe in the product. 6.If the product changes in any way, the company must notify the endorser, and the endorser must continue to use and believe in the product in its new or revised state.

What Businesses Seek in an Endorser Someone with a positive, charismatic, trustworthy image A celebrity most consumers know A celebrity whose career is in process Someone who presents few risks Someone who has a believable relationship with the product.

Celebrity Endorsements Advantages Studies have proven that consumers will buy products endorsed by celebrities. Viewers are less likely to turn off a commercial featuring a celebrity. Consumers tend to believe celebrities. Disadvantages Endorsements are expensive. If an endorser is perceived to be accepting every opportunity, they may lack sincerity. Risk of negative publicity if the endorser commits a crime or a serious social blunder.

Your Task: Using the Microsoft Publisher document on Edmodo you will create and design a cereal box. You will need to choose the name of your cereal and choose an athlete or celebrity to endorse your cereal. – This person will be on the front cover of your cereal box.

Cereal Boxes cereal-brands-if-they-were-sponsored-by- rappers cereal-brands-if-they-were-sponsored-by- rappers