marketing lecture 10 (promotion 2) Flashcards
advertising definition
any paid form of non-personal presentation and promotion of ideas, services, or goods by an identified sponsor
2 basic types of advertisement
- product advertisement
- institutional advertisement
4 forms of product advertisement
- pioneering (information) advertisement : tells you about what the product is, what it is used for and where you can find it
- competitive (persuasive) advertisement : shows you the features or benefits of the product so you choose it rather than competitor’s brand
- reminder advertisement : reinforces your past knowledge about the product, usually done by a well-established brand
- reinforcement advertisement : a type of reminder ad that reassures you that you have made the right choice
institutional advertisement
builds goodwill or an image of an organizations rather than promoting a spesific product or service
desingning the advertisement
- message strategy –> message content or creativity, message appeals
- media strategy –> choose the right media, choose the media/vehicle within that media
message strategy
- attract attention
- enhance liking of the brand or ad
- the nature of the product affects the appropriateness of using the product
- can be distracting towards customers that ignores the message content
selecting the right media (media strategy)
considerations :
- target audience
- type of product
- campaign objectives
- available budget
types of media :
- television
- radio
- magazines
- newspaper
- outdoor
- internet
- direct mail
choosing a vehicle/medium within a medium
- e.g. billboards : mtr, mtr station, bus, outdoor shelter, etc
- e.g. newspapers : newapaper brand
you have to maximize exposure to target audience and minimize cost
public relations
- focus on communicating positive aspects of a business
- may be called on to minimize the negative impact of a problem or crisis
- publicity can be a stronger impact than advertising
major public relations tools
- press release : create a news angle and suggest to a journalist to provide inclusion of the product or company in a story
- product placement : the product appears in a tv show, movie, special event, or computer games
- social media : facebook, forum, twitter, etc
- special event : marketers sponsor an event or create their own event tied around their product for press coverage
advantages and disadvanteges of public relations
advantages :
- cost-effective way to reach the market
- achievement of credibility
- break through the clutter
disadvantages :
- no control over the media
- media time and space isn’t guaranteed
sales promotion definition
- short-term incentives to encourage purchases or sales of a product or service offer an incentive to buy now
- works to affect customer behavior rather than attitude
- the main goal is immediate purchase
rapid growth (sales promotion)
does sales promotion because :
- product managers are under pressure to increase current sales
- companies are facing more competition and less differentiation
- customers are more deal-oriented
- advertising efficiency has decreased due to increased costs, clutter, and legal constraints
sales promotion vehicles
- coupons
- deals
- premium
- contest
- sweepstakes
- samples
- loyalty program
- point-of-purchase display
- rebates
- product placement
personal selling
- personal presentation that is done by a firm’s sales force to increase sale and build customer relationship
- understand customer’s problem and adjust the presentation or offer to meet the needs of each customer
- the importance varies from company to company
