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Promotion. “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself .” Peter Drucker. Unit 3. Promotional Mix. Promotional in Marketing. Promotion-one of the 4 P’s

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promotion

Promotion

“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”

Peter Drucker

Unit 3

promotional in marketing
Promotional in Marketing
  • Promotion-one of the 4 P’s
  • Product promotion – promotional method used by businesses to convince prospects to select their goods or services instead of the competitor
  • Institutional promotion – promotional method used to create a favorable image for a business, help to advocate for change or take a stand on a community issue.
types of promotion in the promotional mix
Types of Promotion in the Promotional Mix

Promotional Mix is the cost-effective combination of personal selling, advertising, direct marketing, sales promotion and public relations.

promotional mix1
Promotional Mix
  • Personal Selling – requires a sales representative to generate and maintain direct contact with prospects and customers
  • Advertising – a form of non-personal promotion in which companies pay to promote ideas, good or services
  • Direct Marketing – type of promotion that companies use to address individuals directly and not through a third party.
promotional mix cont
Promotional Mix, cont.
  • Sales promotion – represents all marketing activities that are directed at business or retail customers to boost sales.
  • Public relations – activities help an organization to influence a target audience.
sales promotion
Sales Promotion
  • Incentives that encourage customers to buy products or services.
types of sales promotions
Types of Sales Promotions
  • Trade promotions
  • Consumer Promotions
    • Coupons – certificates that entitle customer to cash discounts
    • Premiums – giveaways are lost cost items given to consumer at a discount or for free.
    • Deal – price packs offer short-term price reductions that are marketed directly on the label or package.(For example: T-shirts are $10.50 each or for two or more $6)
types of promotions cont
Types of Promotions, cont.
  • Incentives – generally higher-priced products, awards or gift cards given away through contest, sweepstakes, special offers or rebates. (For example: McDonalds monopoly game)
  • Product samples – a free trial size of a product is given away
  • Sponsorship – Sponsors offer negotiate the right to use their logo and names on retail products to enhance their corporate image. (For example: Earnhardt Gnassi Racing Team – NASCAR)
types of promotions cont1
Types of Promotions, cont.
  • Promotional Tie-Ins, Cross-Promotion, Cross Selling: sales promotions between or more retails or manufactures (For example: When a new animated feature is about to hit theaters, a movie studio will offer ticket discounts in cereal boxes.
  • Product Placement – consumer promotion that involves the verbal mention or appearance of a band name product in a TV series, move or sporting event. (For example: There is always a Diet Coke by each judge on American Idol).
types of promotions cont2
Types of Promotions, cont.
  • Loyalty Marketing Program – also known as frequent buyer programs (For example: ShopRite customers sign up for a loyalty program for discounts)
  • Online Loyalty Program – Online version of a Loyalty Marketing Program
  • Point-of-Purchase – displays primarily by manufactures to hold and display their products and are usually in high traffic area to promote impulse purchases.
purpose of advertising
Purpose of Advertising
  • Advertising – non-personal promotion which promotes ideas, good or services by using a variety of media.
slide16

Promotional and Institutional Advertising:

    • Promotional Advertising – advertising designed to increase sales
    • Institutional Advertising – advertising designed to create a favorable image for a company and foster goodwill in the marketplace.
  • Mass Advertising
    • enables companies to reach large numbers of people with their message. TV and radio are often used.
types of media
Types of Media

Media – agencies, means, or instruments used to convey advertising to the public.

Four types of media:

  • Print
  • Broadcast
  • Internet
  • Specialty
print media
Print Media

Advertising in newspapers, magazines, direct mail, signs, and billboards

types of print media
Types of Print Media
  • Newspaper
    • Daily and weekly newspapers
    • Shoppers and Alternative Newspapers – shoppers contain minimal editorial content, often delivered to specific areas.
    • National Newspapers
  • Advantages:
    • Can target to people living in a certain area
    • Ads and coupon sales are dated and easily tracked
  • Disadvantages:
    • Limited shelf live
    • Printed in Black and white, less visually appealing,
    • Circulation and daily readership is declining
types of print media1
Types of Print Media
  • Magazine
    • Consumer Magazines – Car and Track, Sports Illustrated, Seventeen, Entertainment Weekly
    • Business-to-Business Magazines – (trade publications): interest professional in specific fields. Ex: Advertising Age
  • Advantages:
    • People tend to keep magazines longer
    • Digital color and photography
    • Create powerful more memorable images
    • Variety of presentation (full page, half page, etc.)
  • Disadvantages:
    • More expensive than newspapers
    • Deadline for submission is weeks or months before print
    • No flexibility if market changes
types of print media2
Types of Print Media
  • Direct Mail
    • Printed direct mail
    • Electronic direct mail
  • Advantages:
    • Highly selective to who receives it
    • Tries to reach new customers
    • Most effective with current customers
  • Disadvantages:
    • Yields a low level of response
    • Redemption rate is 1% - 3%
    • Image problems- most people consider it junk mail
    • Printing and distributing can be costly
types of print media3
Types of Print Media
  • Directory Advertising
    • White Pages
    • Yellow Pages
  • Advantages:
    • Inexpensive
    • Target all demographic groups
  • Disadvantages:
    • Printed only yearly
types of print media4
Types of Print Media
  • Outdoor Advertising
    • Billboards
    • Digital billboards
  • Advantages:
    • Highly visible
    • Relatively inexpensive
    • 24/7 message
    • Located to reach a specific area
  • Disadvantages:
    • Limited viewing time
    • Increasing government regulations
types of print media5
Types of Print Media
  • Transit Advertising – on public transportation
    • Busses
    • Taxi
    • Bus stops
    • Public Benches
  • Advantages:
    • Reaches a wide and captive audience
broadcast media
Broadcast Media
  • Radio
    • Can be heard anywhere
    • Update and change ads daily or hourly
    • Ability to reach a wide audience
  • TV
    • Ultimate advertising
    • Highly compelling: sight, sound, action and color
    • Highest production cost
    • Expensive
internet advertising
Internet Advertising

Uses web or email

  • Opt-in email
  • Banner and Search Engine Ads
  • Video Ads
  • Social-media advertising
specialty media
Specialty Media
  • Known as giveaways
  • Inexpensive
  • Imprinted with logo
  • Limited distribution,
other advertising
Other Advertising
  • In-store Ads
    • Ceiling and floor graphics
    • Electronic shelf ads
    • Supermarket cart displays
    • Instant coupon machine
  • New Media
    • Cell phones
    • Video games
media planning
Media Planning
  • Process of selecting the appropriate advertising media and deciding the time and space in which ads should appear to accomplish marketing objective.
  • Answer the three basic questions:
    • Can the medium present the product and the appropriate business image?
    • Can the descried customers be targeted with the medium?
    • Will the medium get the desired response rate?