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Promotion Chapter 15. The Role of Promotion in Marketing Inform Persuade Remind.

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Presentation on theme: "Promotion Chapter 15. The Role of Promotion in Marketing Inform Persuade Remind."— Presentation transcript:

1 Promotion Chapter 15

2 The Role of Promotion in Marketing Inform Persuade Remind

3 Promotion Is a Communication Process Sender Encoding by the sender Message channel Decoding by the receiver Receiver Noise Feedback

4 Types of Communication Interpersonal communication Two-way communication Involves two or more people in some kind of person-to-person exchange Mass communication One-way communication Involves communicating to huge audiences, usually through mass media, such as magazines, radio, television, or newspapers

5 * Advantages of advertising * Disadvantages of advertising

6 Examples of Mass Media Advertising Direct mail Internet Magazines Newspaper Outdoor Radio Television SOCIAL

7 * Advantages of publicity * Disadvantages of publicity

8 * Advantages of personal selling * Disadvantages of personal selling

9 * Advantages of sales promotion * Disadvantages of sales promotion

10 Elements of a Promotional Mix Advertising Personal selling Publicity Sales promotion

11 © South-Western Publishing Factors that Affect the Promotional Mix Financial Resources Policy and Objectives Marketing Mix Target Market PromotionalMix

12 Promotional Planning promotional planThe promotional plan is a carefully arranged sequence of promotions designed around a common theme responsive to specific objectives.

13 The Steps in Promotional Planning Analyze the market Identify the target market Develop promotional objectives Develop a promotional budget Select the promotional mix Implement the promotional plan Evaluate the results

14 Promotion Chapter 16

15 Steps in Developing an Advertising Plan 1. Set objectives 2. Determine the budget 3. Develop the theme 4. Select media 5. Create the advertisements 6. Develop an advertising schedule 7. Evaluate the plan ’ s effectiveness

16 Laying Out the Parameters Set objectives Determine the budget –What you can afford –Percentage of sales –Competition matching –Objectives and task Developing the theme

17 Setting Objectives Families who spend one week or more at the beach every year Target market Make reservations early to assure availability and save $100 off the weekly rate Message Increase reserved summer rentals by 10 percent by February 15 Desired results Plan for Seaside ResortsElements

18 Selecting Media Cost Reach Frequency Lead time

19 Questions to Consider When Selecting Media Cost What is the total cost of the medium? What is the cost per viewer? Does the cost fit into the advertising budget? Is it the most effective use of advertising dollars?

20 Questions to Consider When Selecting Media Reach What is the circulation? What is the viewership? Will it reach the target audience? Is there a strong pass-along rate?

21 Questions to Consider When Selecting Media Frequency How often will the target audience receive the advertising message? How many times will the ad run?

22 Questions to Consider When Selecting Media Lead Time How quickly can the audience be reached? How flexible is this medium? How close to print or air time can the ad be changed?

23 Gauging Advertising Effectiveness Choosing evaluation techniques –Focus groups –Recall testing –Recognition testing Using advertising agencies

24 Using Personal Selling Advantages Information Flexibility Feedback Persuasion Follow-upDisadvantages Cost per customer Time Control Skill

25 Choosing Personal Selling Complex or expensive products Markets made up of a few large customers New or very unique products with which customers are unfamiliar Customers located in a limited area Complicated or long decision-making process Customers who expect personal attention and help with decision-making

26 Mental Stages of Consumer Decision-Making Attention Interest Desire Conviction Action

27 Understanding the Product Product knowledge Communicating product information –Features –Benefits

28 Understanding the Competition Salespeople need to understand the differences between their product and the competition ’ s product. Salespeople need to explain the differences to help customers make the comparison.

29 Steps of the Selling Process Approach Determining needs Demonstration Answering questions Closing Suggestion selling Follow-up

30 Providing Sales Support Marketing information management Financing Pricing Promotion Product/Service Management Distribution

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