promotion Flashcards
what is promotion
communicating product/service info to target customers and other stakeholders of the firm
What are the promotional element
advertising, personal selling, public relations, sales promotion, direct marketing
what is promotional mix
mix of different kinds of promotion elements (advertising, personal selling…) used to meet marketing goals.
promotional element (advertising)
one-way non-personal communication about a product/organization that is paid by the org.
advantage of advertising
reaches large audience
control over messaging
disadvantage of advertising
cost can be high, small immediate effect on sales, lack of direct feedback
types of advertising
outdoor,digital: social media ads, online search ad, mass media: product placement
What is personal selling
two way flow of communication btw buyer and seller, designed to influence buyers purchase intentions
Advantages of personal selling
provide detailed info
get immediate feedback and can modify message
build relations with customer
disadvantages of personal selling
dont reach large audience
expensive per contact basis
potential inconsistency in message
What is public relations
creating positive image for org. or product/service via publicity (press release, sponsorship, events)
Advantage of public relations
seen as trustworthy
reach mass audience
disadvantages
limited control over public messaging
What is sales promotion
short term inducement of value offered to arouse interest in buying a good/service
advantage of sales promotion
effective in short term sales increase
boost store / website traffic
easier to track
disadvantages of sales promotion
sales drop off when deals end
can harm brand image
Examples of sales promotions
sample, coupons, premiums, rebates
what is direct marketing
any form of direct communication with consumer designed to drive sales or interest
examples of direct marketing
emails, postcards
advantage of direct marketing
customization, quick modification
cheaper than personal selling and advertising
interpersonal communication
easier to track and measure
disadvantage of direct marketing
declining consumer response
data management can be expensive
who should we talk to is related to
target market
what should we say is related to
message
what channels do we use
media
What do we want to achieve is
objective
what is promotional objective
to inform (PR, ADS), to persuade(ads, personal selling), to remind(discount, coupons), to phase out
What is the funnel of influence
bigger to smaller: Attention, interest, desire, action
push vs pull strategy
push:flow of promotion: personal selling directed to intermediaries
pull: mainly advertising directed to consumers
set promotion budget
set budget as a % of sales
set budget to match competition
objectives and tasks method (end goal, what you need to spend to reach that goal)
evaluation of campaign
day after recall
sales changes
a/b testing
physiological testing
integrated marketing communication
promotional mix= provide clear and consistent message to audience
