Promotion Decisions Flashcards
What is Promotion?
Communication to build and maintain relationships by informing and persuading 1 or more audiences
What is the Marketing Communication Mix?
A combination of marketing communication methods used to promote a specific product
What are the Objectives of Promotion?
To Inform - Create awareness and identify prospects
To Persuade - Stimulate demand, encourage product trial and reduce sales fluctuations
To Remind - Retain loyal customer and combat competitive promotional efforts
What is Integrated Marketing Communications?
The coordination of promotional efforts for maximum informational and persuasive impact on customers
What type of Message Appeal Styles can they use?
Rational Appeal - Promotes factual information
Emotional Appeal - Stirs emotions such as fear warmth etc..
Moral Appeal - Relies on what is right or wrong
Selecting Elements for the Marketing Communications Mix:
Push channel policy..
Promoting a product only to the next institution down the marketing channel
Selecting Elements for the Marketing Communications Mix:
Pull channel policy..
Promoting a product directly to consumers to develop strong consumer demand that pulls products through the marketing channel
Marketing Communications Mix Variables:
Advertising…
Is paid NON-PERSONAL communication about an organisation and its products transmitted to a target audience through mass media
Marketing Communications Mix Variables:
Personal Selling…
Paid for personal presentations aiming to inform and/or persuade the customers
Marketing Communications Mix Variables:
Public Relation
Communication efforts used to create and maintain favourable relations between an organisation and its stakeholders
Marketing Communications Mix Variables:
Sales Promotion
An activity and/or material meant to induce resellers or salespeople to sell a product or consumers to buy it. e.g. Free samples, games and coup[ons etc.
Marketing Communications Mix Variables:
Product placement
The strategic location of products or product promotions within entrainment content to reach the product’s target market
Marketing Communications Mix Variables:
Digital Marketing
Marketing communications mix elements that rely on digital technology e.g. mobile coupons or banner advertisments
Marketing Communications Mix Variables:
Word of Mouth
Personal, informal exchanges of information that customer share with one another about products, brands and comapnies
Promotional Strategies for the 4 stages of the PLC:
Introduction - Aim at the needs of early adopters
Growth - Make the mass market aware of the brand benefits
Maturity - Use promotion as a vehicle for differentiation among otherwise similar brands
Decline - Emphasise low price to reduce stock
