Lecture 5 Flashcards
tactical launch decisions - promotion
what is the promotion mix
combi of promotional tools an organization uses
what is integrated marketing communication
combining all promotional tools into one comprehensive, unified, promotional strategy
what are 3 sources of new product awareness
paid media
earned media
owned media
what is paid media
TV ads, radio, newspaper etc
what is earned media
friends & family, job, professional, internet searching
what is owned media
saw it in store, free sample, website of manufacturer
What are the 3 moments to become familiar with new products
pre-launch
during launch
post launch
what are the goals of pre-launch promotion
shape perceptions
generate anticipation
create buzz
what are promotional activities in pre-launch
website (landing page)
pre-announcing
teaser ads
what are goals of promotion during launch
inform about product
generate awareness
stimulate trial
what are promotional activities during launch
launch event
sales promotion
advertising
what are goals of promotion post-launch
keep connected
create loyalty
explain why/how
what are activities of post-launch
discount
direct mail
what does an effective website (landing page) include
catchy headlines
teasers
concise product description
unique selling propositions
call to action
what is a pre announcement
a firm’s planned act of signalling its future intentions to target audience
what are different types of pre announcing
press releases
youtube movies
social media messages
keynote speeches
when to use keynote speeches
high tech categories
high profile brand ambassadors
confidence in product benefits
what are advantages of keynote speeches
product is hero
product benefits clearly articulated
what are disadvantages of keynote speeches
depends on charismatic speaker
who are the stakeholders of pre announcements
investors
channel members
competitors
customers
program developers
what are advantages of pre announcing
educate consumers
pre-empt competition
create hype
prompt consumers to wait instead of buying competitors product
can increase firm value
what are disadvantages of pre announcing
can alert competition
danger of not being able to deliver on promise
what are advantages of teaser campaigns
more curiosity
increased WOM
big -events create:
free publicity
WOM
stimulate trial
what is sales promotion
a collection of incentive tools designed to stimulate quicker / greater purchase of products -> stimulate trial
what are 4 tpyes of sales promotion
coupons
introduction price (lower price at launch to stimulate trial)
product demonstration
sampling
what are goals of advertising
inform
persuade
remind
why is advertising important
targeting your market
attracting innovators and early adopters
WOM advertising
building anticipation
why is WOM important
let others create excitement and buzz
