Chapter 14 Flashcards by Unknown Unknown

Promotion mix compoenents

advertising
personal selling
sales promotion
public relations

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personal selling -promotion mix

sales rep reahcing out to indivdual customers

it is often more expensive than ads but more effective too

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Sales promotion

use of short term incentives to encourage product buying

50% off and all

con: they might alway swant it

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Public relation

sponshorships and events and news releases

it can be bad publicity if odne wrong though

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advertising

paid message through tv radio social media

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integrated marketing communications

co-ordinating all aspects of promtion mix to send clear and consistent message to customers

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what is the largest share of promotional spending

ADVERTISING

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7 MAJOR ADVERRTISN CATEGOREIS

TV
RADIO
SOCIAL MEDIA/ONLINE
NEWSPAPERS
OUTDOOR
MAGAZINE
DIRECCT MAIL

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PROS AND CONS OF ADDS

largest reach and frequently

expensive and gorgettable

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direct mail pro and cons

selective and targeted
easy measure perfomnace

EXPENSIVE and thrown out

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Newspaper pro and con

can reach large audiences
ads can be frequent

short life only 1 day

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RADIO pro and con

can target local uadience
low cost

no visuals

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magazine pro and con

targeted
long life

high cost
LONG lead time (30-90 days)

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online pro and con

selective targeitn
cheap

cost per click can be high
security and privacy

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outdoor pro and con ads

location selectivity
close to point of sale

short messages only
doesnt attracct attention

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what is personal selling used for

car sales house sales

A)HIGH DOLLAR VALUE GOODS AND SERVICES
B) large amounts being sold (B2B)
C) to make sure you dont make embarazzing choices

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steps in personal selling process

1) prospecting (research potential clients)

2) approach the prospect

3) present + product demo

4) answer objections

5) make the sale

6) follow up

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sales promo methods

coupons

samples

premiums

frequent use incentive

point of purchase display

contest

PR Public relations tools

1) press release (one doc w 300=500 words) given to media

2) press conference (company officials meet w media)

3) sponsorship (sponsoring events) NOT Partnerships!!!!!!!!!!!!11

Promotional Campaign

The way you combine 4 coponents of promo mix (ad, personal selling, pr and sales promo)

IT DEPENDS ON THE COMPANY!

channels of distribution of promos

1) Direct channel
2) producer to retailer to customer channel
3) producer to wholesaler to retailer to customer
4) producer to agent to wholesaler to retailer to customer

DC distribution

producer sells directly to customer

2 step distribution

producer to wholesaler to retailers to customers

intermediaries

wholesalers and retailers and agents

benefits of intermediaries

1) break bulk: sell small sizes 2) instant sales infrastrufutre: not expensive to sell 3) efficincy and variety

3 types of wholesalers

merchant : commision merchant: carry merchandise and negotiates sales for maunfactureres agents: independant sales pro browkers;: specializes in 1 commodity, represent either buyer or seller an dis temprorary

4 factors that differentiate physical retailers

1) #prod categories 2) prciing 3) distribution intensity (level of market coverage, how many outliets sell this product) 4)sie and selection

intensive distribution

convenience goods

warehouse showroom

ikea

warehouse clusb

costco

offprice retailers selling manufacturers returns and off season at below wholesale price HOME SENSE

category killers

large speciality stores focuing on 1 product line PETSMART

EXCLUSIVE DISTRIBUTION

non stroe retailing

direct selling direct marketing: use of telephone, internet, non perosnal media to communicate -caalogue marketing: org provide catalogue where customers place orders though -direct repsonse:online and tele orders -telemarketing -television home shpping online retailing vending machines

what type of retialing is online retailing

direct to consumer

3 functiions of physical distribution

inventory manamgent : how much inventory should we keep on hand (too much or too little) warehousing: picking and packing goods for shipment ; shipping produccts through distribution for customers transportation

stock out

when too little inventory :( BAD

Although intermediaries can be eliminated, the functions they perform cannot.

does decreasing intermediaries increase or decrease sales revenue

it depends

IS IT MODE OF DIST OR METHOD

MODE!

who doesnt take title of good they sell

AGENTS/BROKERS

wholesalers take title to the goods they sell, but they do not sell to consumers

Channel of distribution: VS Mode of distribution:

Channel of distribution: mix of marketing intermediaries a producer uses [wholesalers/retailers]. Mode of distribution: actual type of transportation for moving physical goods from one point to anothe [plane,ship]