Promotional Planning

Promotional Planning
11.1 Promotional Plans 11.2 Sponsorships and Endorsements 11.3 Promotional Events Chapter 11 1

Lesson 11.1Promotional Plans Goals List steps in developing a promotional plan. Discuss recent promotional trends and ways to stay current with trends. 2

PLANNING TO PROMOTE Knowing your target customers and having a plan to reach them are essential for effective promotions. 3

Developing a Promotional Plan promotional plan a written, detailed description of how the four elements of promotion will be used advertising sales promotion publicity personal selling Covers about a year at a time and reviewed/updated throughout the year. 4

Identify target customers. Set promotional goals. Develop a promotional budget. Select the promotional mix. Measure the results. The development of the promotional plan includes the following steps: 5

Develop a Promotional Plan Identify the Target Customers Large diverse audience – pays to have comprehensive plan with a clear understanding of the groups. Select appropriate media. Set Promotional Goals Specific Written Measurable Goals- so success promotion is defined and used. Increase ticket sales - that can be measured/evaluated.

Develop a Promotional Budget Tied to Promotional Goal. Percent of expected sales technique. Select the Promotional Mix: Blending of Advertising, Sales Promotion, Publicity & Personal Selling. Selected based on target group, goals & budget. Baby Boomer w/$$$ = Traditional Advertising Younger Markets = Advergames Advertising an electronic or online game that incorporates marketing content to promote a product or service

Measure the Results Data is collected and analyzed to determine if the promo plan was successful. If goals not met, the plan must be adjusted. quantitative measurement provides information in terms of numbers or percentages Increase market share by 5% qualitative measurement subjective and requires interpretation Assess brand loyalty trends A combination of both types of measurements is useful in determining the success of a promotional plan. 8

What are the steps in developing a promotional plan? Identify target customers. Set promotional goals. Develop a promotional budget. Select the promotional mix. Measure the results. 9

PROMOTIONAL TRENDS Technology has brought dramatic changes to how and where products and services are promoted. Social Media Movie Promotions Professional Plans 10

#1 ~ Social Networking social network: relationships among people (casual or close) 11

one of the strongest mediums for passing on messages about products or services Referral System- word of mouth, leveraging, buzz. viral campaign: the Internet is involved messages passed to others through e-mail instant messaging (AIM) chatrooms blogs Twitter, Pintrest, Facebook, FourSquare, Linkedin #1 ~ Social Networking (continued) 12

#2 ~ Movie Promotions trailers advertisements for new movies (theatre or DVD release) Aired before other movies in the theatre, TV, Internet. Critical to attracting attention before release Rated for audience 13

#3 ~ Professional Plans Businesses that develop and implement promotional plans for clients are referred to as: advertising agencies public relations agencies promotional communication agencies Trained staff –develops some or all promo plan aspects so company does not have to. 14

Books Magazine TV Radio Newsletters Internet Blogs Observations (people’s reactions) List sources of information for staying current with promotional trends. 15

Lesson 11.2Sponsorships and Endorsements Goals Explain the benefits of sponsorship to the sponsor. Define endorsements and discuss their restrictions. 16

GAME DAY Sponsors of college athletics want to be known for their loyalty to the local team and want to be associated with winners. By Association sponsorship “underwriting an event for the purpose of gaining positive association for a brand with the event, the participants, and/or the attendees” 17

Supporting Collegiate Sports Sponsorship of college athletics is about generating revenue for the college programs. media corporations buy the television broadcasting rights usually long term corporations donate apparel to teams highly visible during and after games 18

What is a Sponsor? sponsor person, organization, or business that gives money or donates products and services to another person, organization, or event in exchange for public recognition helps pay for the event helps keep ticket prices affordable 19

CSN Philly Game Sponsors for 2012 Phillies Games

Reasons for Sponsorship To increase sales & profit To introduce a new product/service to a large audience To be identified with an event in which the target market is interested 21

Reasons for Sponsorship To earn the goodwill of the audience by showing commitment to the community To entertain clients, employees or potential customers To enhance the company’s image To enter new markets or a niche market 22

What do sponsors expect in return for their investments? Positive Public Recognition Which can lead to financial gains through increased sales 23

WHAT IS AN ENDORSEMENT? endorsement a person’s public expression of approval or support for a product or service a promotional tool (not a form of sponsorship) Example Endorsements: Racecar Driver in Tire Commercial Public knows the person is a real professional driver Assumes comments are their personal opinions Assumes driver believes in the comments they make 24

Federal Trade Commission Federal Trade Commission (FTC) a U.S. governmental agency whose principal mission is the promotion of consumer protection and competitive business practices FTC defines Endorsement 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.” 25

Legal Restrictions on Endorsements FTC endorsement guidelines include: The endorser’s opinions must be truthful. The endorser should have actual product experience. Deceptive or misleading statements are prohibited. 26

Endorsements cannot distort endorser’s opinion. The endorser must use and believe in the product for as long as the endorser is featured in ads. The endorser must be advised of product changes and must continue to use and believe in the product in its revised state. Legal Restrictions on Endorsements (continued) 27

Celebrity Endorsements Celebrity endorsements are expensive and are often surrounded by controversy. advantages endorsed products sell better viewers are less likely to turn off a commercial featuring a celebrity consumers believe celebrities 28

disadvantages expensive if an endorser is overexposed, consumers will start to doubt the endorser’s sincerity there is a negative publicity risk if the endorser commits a crime or social blunder Celebrity Endorsements 29

Drew Brees is featured in the 2010 NyQuilad campaign

Andy Roddick Lacoste Challenge Cologne (replacing Hayden Christensen in 2010)

Emma Stone Revlon Spring 2012

Lea Michele Candie's clothing line campaign Spring 2012

What Businesses Seek in an Endorser someone w/ positive, charismatic, trustworthy image a celebrity most consumers know a celebrity with a current career someone who presents few risks someone with a believable relationship with product 34

List advantages and disadvantagesof using celebrity endorsers. 35

Lesson 11.3Promotional Events Goals Explain the promotional value of involvement in seasonal themed events. Explain the promotional value of entertainment awards. 36

THE RIGHT EVENT themed events centered around a specific theme held annually 37

which events to participate in the extent of involvement There should be a correlation between the event and the sponsor’s customers. Sponsorship should result in new sales or customers for the sponsor. Sponsors need to make careful decisions about 38

Event Coordination event coordinator a person employed by the venue who works with the event’s sponsors to plan the event exhibit manager plans exhibit locations rents space to businesses ensure exhibitors’ needs are met 39

Trade Shows major events where people in a related industry meet to show their products exchange ideas learn about the latest trends Country Music Festivals American country music has a global appeal. 40

What is the difference between a trade show and a themed event? 41

AWARDING THE BEST The top four annual awards shows have a high marketing value. the Oscars the Grammys the Emmys the Tonys 42

Awards Influence Sales The Oscars a nomination is lucrative for everyone associated with the film in 2006, ABC charged between $1 and $1.5 million for each 30-second advertising spot during the Oscars a Best Picture award will likely result in an additional $100 million in ticket sales 43

http://www.oscars.org/ http://oscar.go.com/ The Oscars reward the previous year’s greatest cinema achievements as determined by some of the world’s most accomplished motion picture artists/professionals. The 83rd Academy Awards took place on February 27, 2011 at Hollywood's Kodak Theatre and aired on ABC. One billion viewers worldwide tuned in to the glitz and glamour of Oscar Night and now THE OSCARS(THE ACADEMY AWARDS) 44

http://www.grammy.com/ http://www.grammy.org The recording industry's most prestigious award Presented annually by The Recording Academy Honors excellence in the recording arts & sciences. It is truly a peer honor, awarded by and to artists and technical professionals for artistic or technical achievement, not sales or chart positions. THE GRAMMYS 45

http://www.emmys.tv/ http://www.emmys.com/ The Emmy Awards recognize excellence within various areas of television and emerging media. Emmys are bestowed by three sister organizations The Academy of Television Arts and Sciences The National Academy of Television Arts and Sciences The International Academy of Television Arts and Sciences THE EMMYS 46

THE TONYS http://www.tonyawards.com Tonys are given to professionals in live theater for distinguished achievement. June 12th 8:00 p.m. - The 2011 Tony Awards live on CBS and TonyAwards.com will offer multimedia coverage to complement your viewing experience. 47

International Showcase Cannes International Film Festival promotes the film industry worldwide producers and sellers of films come together with film buyers Cannes Awards are presented for both feature films and short films. 48

Name the four major entertainment awards. Why are entertainment awards important? 49

Promotional Planning