Promotion Flashcards
Promotion?
Attempting to inform persuade the public about a product about how they are different unique and worthwhile
Key functions of promotion?
Primary demand: Inform customers
Selective demand: persuade one over another
Brand Loyalty: Remind customers
Foster relationships
assist other elements of the marketing mix.
Feedback. Personal selling vs mass
Personal: Objections/ body language/ questions.
Mass: Sales, inquiries, engagement.
Encoding/Decoding.
The message needs to be clear. As not everyones frame of reference is the same. Cut through the noise.
Integrated Marketing Communication (IMC)
Coordination of comapny elements to effectively communicate the information and brand.
Personal selling, Advertising, PR, Sales promotion, Direct Marketing… needs to be integrated.
Promotional Mix needs balancing and thought.
Resources: What skills, financials, and staff do we have. What are our objectives?
Characteristics of the target market: Size, geographics, age, informed, rich.
Characteristics of the product: Luxury, Cheap, attributes, technicals, life cycle stage.
Cost and availability of promotional methods.
Push and Pull.
Push and Pull Strategy.
Push Strategy: Producers emphasis of the promotion is on the next layer of channels. Trying to push the product into the market. Producer - wholesaler - retailer - consumer.
Pull Strategy: Producers intend their promotions more on final end consumers. Create demand for the product in hope of them taking actions. Thus the product gets pulled through the channels.
Different ads for different stages of the readiness to buy consumers?
Cognitive (Thoughts)
Consumers, knowledge of the brand and product, are unlikely to move to purchase.
Affective (Emotions)
Influence attitudes and feelings. Developing positive feelings. Liking one brand over another.
Conative ( Motives)
Consumers are nearly ready to buy. Stimulate higher degrees of desire. Show the ease of purchase.
Ad differences ….. Rational Appeal. Emotional Appeal.
Rational Appeal:
Facts and figures about why the product is good and better.
Emotional Appeal:
Conveying emotions that the product can provide.
Self Regulation of Ads Pros and Cons…
The advertising standards authority allows faster more flexible, change that puts the power into the hands of the customers and means the government doesn’t need to intervene.
Cons: It is voluntary so change doesn’t have to be made, and campaigns can be so short that complaints don’t act fast enough and there are no consequences.
Conventional Marketing Channel
Vertical Marketing Channel
Horizontal Marketing Channel
Conventional: Independent organisations, each maximising their own profits, working together to create the system.
Vertical: Combining two or more stages of the marketing channel under one management. Cooperation at different levels.
Horizontal: Two companies in one level. Cooperation of organisations at the same level of cooperation
Direct and Digital
refers to the process of interacting directly with carefully target individual consumers and communities to both obtain an immediate response and build lasting customer relationships.
customer database
is an organised collection of comprehensive data about individual customers or prospects, including geographic, demographic, psychographic and behavioural data.
Direct Marketing Decisions.
One step approach
Two -step approach
- the medium beig used to directly obtain an order, this is often used for current customers.
- more than one medium, different efforts result in the response, not directly aa purchase, perhaps a visit to the website.
Digital Marketing
Addressability: Identification of customers before they make a purchase.
Interactivity: Customers can express their desires directly.
Connectivity: Consumers can connect with each other.
Control: Customers can regulate the information they view, can gain more if they want.
