Professional Documents
Culture Documents
Uma Kanjilal
Promotional Mix
It is the combination of individual promotional tools selected by the marketer to promote a particular product.
Advertising Personal selling Sales promotion Publicity and public relation Direct marketing
Advertising
Any paid form of non-personal communication link, initiated by an identified marketer, to establish or continue exchange relationship with customers and other stakeholders.
Advantages of Advertising
Low cost per target audience reach Repetition of message Dramatization of company and its products for creating impact Build up long-term image
Disadvantages of Advertising
High absolute cost Difficult to evaluate effectiveness Persuasive value less compared to other personal promotional tools
Types of Advertising
Product Advertising- focuses on goods and services Institutional advertising- focuses on the organization, generating a particular image or concept
Pioneering advertising- to introduce a new product or brand Reminder advertising- keeps the name of the marketer in front of the target market Competitive advertising- stressing superiority of one product over the other Comparative advertising- superiority over the competing brand Advocacy advertising- to communicate marketers position on an issue Public service advertising- ads by government or other non-profit organizations on social issues.
Advertising process
Review internal/external strategies and plans Identify target audience Set advertising objectives and budget Develop creative approach Conduct advertising research Selecting media Producing advertising Evaluation
Personal selling
Interpersonal communication process used to identify prospects, determine needs, present product information, gain commitment and follow up after sales to maintain customer relationship.
Telephone selling Technical selling- providing technical support Missionary (pioneer) selling- providing details about the product Retail selling
Two way communication with target audience Immediate feedback Flexibility in responding to individual customer needs Customer relationship building
Disadvantages
Sales promotion
Communication of any intermittent and/or short-term incentive that enhances the basic value of a product, to encourage channel members and sales people to market it and customer to buy it.
Consumer sales promotion- range of promotional incentives that marketers offer to ultimate consumers to encourage purchases Trade sales promotion- promotional incentives offered by marketers to wholesalers, retailers and other value chain partners for supporting certain products
Coupons- a document that allows customer to buy a product at a specific discount Samples- goods or service offered free or at a very low price to encourage the customer the experience its benefits Sweepstakes and contests- these are ways to attract new customers premium- item of value offered free or at a low price to customers to buy or try a particular product.
Price promotion- price reduction offered to every purchaser during a limited period refunds and rebates- these method the marketer encourages the customer to take a risk. Full or partial refunds are made if they are not satisfied Displays- in-store displays and point-of-purchase displays are set up in retail outlets to grab customer attention.
Trade allowances- off-invoice allowance, extra allotments for buying a minimum quantity are some of the methods used to wholesalers and retailers. Incentives and contests- push money (cash awards) to sales persons for selling certain products, contests in B2B marketing to whip up enthusiasm for a certain product
benefit (key benefit that makes the product better than competing brand) Step 5- Communicate the truth of the benefit (product attributes, consumer perception supported, believable messages) Step 5-Convey the brand personality (decide on the tone and personality that differentiates the product from others
Step 6- Develop communication objectives (state what consumers should know and feel and what they are expected to do after they are exposed to the message Step 7- Plan consumer contact points (know when and where the consumer will be most receptive to the message)
Target audience analysis- who the audience are, their characteristics, and their consumption and media habits Message research- concept testing, copy testing Media audience research- broadcast audience measurement, print audience measurement
Planning
Research decisions
1.
2. 3. 4.
5.
Should research be done? What is the research objective? What research design will provide best solutions? What data collection methods to be adopted? What conclusions to arrive at with analyzed research data?
Determining objectives or outcomes expected developing strategies that are plans for accomplishing the set objectives
Selecting a target market- market segmentation (undifferentiated, differentiated or concentrated market segmentation strategies) Setting objectives
Identify unit responsibility Link objectives State output not input Establish a time frame Set realistic objectives Include result per objective Make objective specific and measurable
Advertising factors - Budgeting - Competitive activity - Media usage - Message types/ approaches - Organization - Research - Target audience
Media planning factors - competitive spending analysis - Geographic distribution - Media goals - Media mix - Seasonality - Target audience - Timing