Marketing Mix II - Promotion and Place Flashcards
What are the different marketing communication channels?
- Advertising
- Sales promotion
- Personal selling
- Direct database and marketing
- Public relations & publicity
- Events and experiences
- Online and social media
- Worth of mouth marketing
What is included in advertising and what are the attributes?
- Non-personal presentation of ideas, goods, or services by an identified sponsor e.g. print and broadcast advertisements, posters, packaging, symbols, brochures
Attributes include:
- Persvasiveness: repeating the message
- Expressiveness: dramatizing the content
- Impersonality: audience does not feel obliged to respond
- Geographically dispersed consumers
What is included in sales promotion and what are the attributes?
- Sort term incentives to encourage trial or purchase e.g. fairs and trade-shows, gifts and samples, coupons, low interest financing
Attributes include:
- Communication: gain attention and may lead the consumer to the product
- Incentive: they incorate something that brings value to the customer
- invitation: distinct invitations to engage in the transacion now (e.g. online promotions)
What is included in personal selling and what are the attributes?
- Face-to-face interaction with one of more pontential purchasers e.g. sales meetings, fairs and tradeshows, presentations
Attributes include:
- interaction - two way communication
- cultivation: personal selling permits various relationships e.g. personal friendship
- response: buyer feels some obligation following the sales talk
What is included in direct and database marketing and what are the attributes?
- Use of mail, phone, email, to communicate directly with or solicit response or dialogue from specific customers e.g. email, voicemail, blogs, catalogues, websites, electronic shopping
Attributes include:
- customized messages
- Up-to-date (quick message delivery)
- Interactive (message can be changed depending on the person’s response)
What is included in public relations and publicity and what are the attributes?
- Variety of programs designed to present or protect a company’s image or its individual market offerings (e.g. seminars, annual reports, donations, lobbying, company magazine)
Attributes include:
- High credibility (news and features more authentic and credible to readers than ads)
- Ability to catch buyers off guard (reaching ppl who avoid sales ppl)
- Multiplier effects: other media reporting
What is included in events and experiences and what are the attributes?
- Company-sponsored activities and programs designed to create daily or special brand-related interactions e.g. sport events, festivals, factory tours, company museum
Attributes include:
- Relevance: a well-chosen event can be seens as highly relevant as cosnumers get personally involved.
- Implicitness: Events are an indirect “soft” sell.
What is included in online and social media and what are the attributes?
- Engages customers and raise awareness e.g. websites, emails, search ads
Attributes include:
- Customizations and speed: follows user’s interest.
- Persvasiveness: multiple exposures of potential adopters to ad
- Information richness
What is included in worth of mouth (WOM and what are the attributes?
- People-to-people communications that related to experiences of consuming market offerings e.g. blogs, instagram, person-to-person
Attributes include:
- Credible - people trust others
- Personal - can be an intimate dialoque
- Timely - in the way that if often follows events or experiences
What are the 4 communication objectives?
1st order: Category needs - establishing a need for x product in the market. Make it clear that the consumer needs this product - crucial if a particular product is new to the world.
2nd order: Brand awareness - create the ability of brand recognitions (within a given cateory). Recognition is easier than recalling –> important inside the store and provides foundation for brand equity.
3rd order: Brand attitude: Evaluating the brand with respect to its ability to meet a current relevant need.
4rd order: Brand purchase intention: Instructions to purchase the brand or to take purchase-related actions.
What does detailing refer to?
Sales visits
Which marketing communication channel ranks highest in cost effectiveness when it comes to conviction, order or reorder?
- Advertising and publicity
- Sales promotion
- Personal selling
Personal selling
What are the indirect channels in pharma and biotech?
- Academic conferences?
- Peer-reviewed scientific publications?
- Key-opinion-leaders?
- Reimbursements dossier (WTF is this)
What are the direct channels in pharma and biotech?
- Advertisements in newspapers and magazines
- Direct to concumer advertising
- Websites
- Sales visits (detailing)
Describe the “historic” relevance of detailing and current situation is?
- Detailing (salesforce) have been crucial previously in the promotion for pharma
- During the visit the salesforce could “detail” the properties of the drug and leave samples.
- The relative importance has been declining due to emerging technologies, new channels, decreased access to physicians, increasing important of payers in the decision-making process (de-centralized vs decentralized pay systems)
