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retailpromotion-230205060946-8f6d5950

content on retail promotion strategies

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retailpromotion-230205060946-8f6d5950

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  1. Retail Communication and Promotion Dr. Gopal Thapa Tribhuvan University

  2. Retail Promotion  Retailers communicate to their customers on a continuous basis through the store atmosphere, the products and services, promotional literature, advertising and other promotional means  Retail promotion is the descriptive term for the mix of communication activities which retail companies carry out in order to influence those publics on whom their sales depend. Prepared by Dr. Gopal Thapa 2 2/5/2023

  3. Retail Promotion  Retailing promotion will have the main objective of influencing consumer perceptions, attitudes and behaviour in order to increase store loyalty, store visits and product purchase.  There is a need to influence trade contacts such as agents and suppliers as well as opinion formers such as journalists and writers. Prepared by Dr. Gopal Thapa 3 2/5/2023

  4. Objectives of Retail Promotion  The marketing objectives need to be clearly defined so that the most effective types of promotion can be utilized.  The mix strategies could specify a need to achieve awareness; to inform; to educate; create purchase action; improve loyalty; change the perception of the customer, etc. Prepared by Dr. Gopal Thapa 4 2/5/2023

  5. Objectives of Retail Promotion  The promotional objectives should have some precise terms for the purposes of carrying out the promotion and then monitoring the results  – so-called SMARRTT objectives Prepared by Dr. Gopal Thapa 5 2/5/2023

  6. SMARRTT objectives  Specific : Objectives have to be precise and clear enough to offer direction as to the expected outcome.  Measurable: Objectives need a quantifiable outcome measurement statement against which an evaluation can take place.  Achievable: Objectives should be achieved and therefore budgets/resources need to be adequate. Staffing or supply problems may restrict achievements.  l Prepared by Dr. Gopal Thapa 6 2/5/2023

  7. SMARRTT objectives  Realistic : The expectations of what the promotion can achieve have to be realistic. Promotion can only achieve so much and therefore expected changes in attitude to a brand, or demand for a retail offer, may not be realistic.  Relevant: Objectives have to be appropriate to the task set.  Targeted: All objectives need to be tied in with statements related to achieving results in the target audience(s). Different target audiences may need separate objectives.  Timed: Objectives have to be written with consideration of effect or change within a time frame of achievement. Prepared by Dr. Gopal Thapa 7 2/5/2023

  8. Promotional Budget Approaches  Objectives and task method  Affordable method  Percentage of sales method  Competitive parity method Prepared by Dr. Gopal Thapa 8 2/5/2023

  9. Communication Effects Prepared by Dr. Gopal Thapa 9 2/5/2023

  10. Prepared by Dr. Gopal Thapa 10 2/5/2023

  11. Advertising  The term advertising includes any paid form of non-personal communication through the media about a product that has an identified sponsor.  Advertising is used to achieve a whole range of objectives that may include changing attitudes or building image as well as achieving sales.  Advertising is often described as above-the-line promotion Prepared by Dr. Gopal Thapa 11 2/5/2023

  12. DAGMAR Model  Defining Advertising Goals for Measured Advertising Results  unawareness;  awareness;  comprehension of the offer;  conviction;  action or inaction Prepared by Dr. Gopal Thapa 12 2/5/2023

  13. Types of Advertising  Product advertising  Markdown event advertising  Institutional advertising  Co-operative advertising Prepared by Dr. Gopal Thapa 13 2/5/2023

  14. Pull vs Push Strategies Prepared by Dr. Gopal Thapa 14 2/5/2023

  15. Sales Promotion  Sales promotion involves any paid non-personal marketing communication activity, other than advertising, which offers an incentive to induce a desired result from potential customers, trade intermediaries, or the sales force.  This is sometimes referred to by the term sales incentive.  It is usual for a sales promotion campaign to be used as a temporary offer to the customer in order to stimulate an immediate response. Prepared by Dr. Gopal Thapa 15 2/5/2023

  16. Examples  displays,  contests,  sweepstakes,  coupons,  frequent user (loyalty) programmes,  prizes,  samples,  demonstrations,  referral gifts Prepared by Dr. Gopal Thapa 16 2/5/2023

  17. Relationship Marketing and Loyalty Schemes  Retailers are adopting relationship marketing (RM) schemes which aim to:  build greater customer loyalty and retention;  develop methods of creating longer-term relationships;  lead ultimately to increased sales and profits. Prepared by Dr. Gopal Thapa 17 2/5/2023

  18. The Relationship Marketing Ladder Prepared by Dr. Gopal Thapa 18 2/5/2023

  19. Personal Selling  Personal selling is the personal communication of information to persuade somebody to buy something. (Santon)  Personal selling is face to face interaction with one or more perspective purchasers for the purpose of making presentations, answering questions and procuring orders. (Kotler) Copy right reserved 19 2/5/2023

  20. Importance of Personal Selling  Two-way communication  Persuasion  Relationship building  Non-selling functions Copy right reserved 20 2/5/2023

  21. Personal Selling Process (Indoor Selling)  Draw attention  Ascertain needs  Presentation  Meeting objections  Closing the sale  Additional sales Copy right reserved 21 2/5/2023

  22. Public Relations  Public relations involve a variety of programs designed to promote and or protect a company’s image or its individual products. (Kotler)  Public relations is a management tool designed to favorably influence attitudes towards an organization, its products and its policies. (Stanton) Copy right reserved 22 2/5/2023

  23. Objectives of Public Relations  Announce new products  Build interest in established products  Announce policies and performance  Announce technological development  Maintain good relations with community  Counter negative publicity Copy right reserved 23 2/5/2023

  24. Nature of Public Relations  Media relations • Personal communication • News releases • Feature articles • Publications  Public service activities  Sponsorship of events  Lobbying  Exhibits and displays  Problem solving Copy right reserved 24 2/5/2023

  25. Public Relations Activities  Media information releases / contact / speeches  Production of PR materials (video, CDs, Web information, press kits, corporate identity materials, etc.)  PR events, media conferences and newsworthy ‘stunts’  Advertorials (which require PR copy along with an advertisement)  In-house and customer magazines  Facility visits to store etc.  Sponsorship and donations  Lobbying Prepared by Dr. Gopal Thapa 25

  26. Effectiveness of the Four Major Methods of Promotion Prepared by Dr. Gopal Thapa 26 2/5/2023

  27. Any Queries? Thank You Prepared by Dr. Gopal Thapa 27 2/5/2023

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