Presentation on theme: "PROMOTION AND PROMOTIONAL MIX Review for Advanced Marketing."— Presentation transcript:
PROMOTION AND PROMOTIONAL MIX Review for Advanced Marketing
DEFINITION OF PROMOTION Communication used to inform, persuade and educate prospective customers about a product, service or company.
PROMOTION Persuasive communication Inform prospective customers about products and services Enhance public image and reputation Enhance image of product or service as valuable Educate public about an issue or trend (mostly used by non- profits)
PRODUCT PROMOTION Convince customers to buy a product or service instead of the competitor brand Promotional activities explain the major features and benefits of the product or service Identify where it is sold, advertise sales, answer customer questions Introduce new offerings Helps companies foster good relationships with existing customers and increase loyalty
INSTITUTIONAL PROMOTION Activities and advertising that creates a positive image of a company or product Product features and benefits are NOT used in this form of promotion Examples: Holiday Budweiser commercial Sponsorship of charity events- Komen for the Cure
PROMOTIONAL MIX Strategy used by companies to inform and persuade a target market “Any combination of Advertising, Selling, Publicity, and Sales Promotion and Direct Marketing”
PROMOTIONAL MIX ADVERTISING SELLING PUBLICITY SALES PROMOTION Direct Marketing
ADVERTISING Paid communication One-way communication Broadcast (TV, Internet, Radio) Print (Newspaper, Magazines, Direct Mail) Outdoor (Billboards, Marquis) Transit (Busses) Social Media
SELLING Face-to-face interaction with customer Persuasive approach – educate and inform about the product/service The goal is to lead the customer to a correct buying decision for their needs Business-to-business selling Business-to-consumer selling
PUBLICITY and PUBLIC RELATIONS Activities that influence a target audience Creates a favorable image for the company, it’s products, or policies Cultivate media relations IMAGE! http://www.youtube.com/watch?v=SKL254Y_jtc
SALES PROMOTION Stimulation of sales through contests, demonstrations, discounts, trade shows, games, giveaways, point of sale special offers and similar activities that drive product sales Aimed at consumer OR distribution channel
Direct Marketing Making direct contact with existing and potential customers about a product or business Enables to target specific customer with personalized message Types of direct marketing include: e-mail, direct mail, mobile marketing, and telemarketing.
Assignment: Identify Promotional Mix of An Existing Product/Service Students work independently or with a partner to complete this assignment Select a company and a product or service that is marketed by that company Research the promotional activities for that specific product/service using the Internet Prepare a PPT presentation to deliver to class that identifies the promotional mix of that product/service