Promotion Policy Flashcards
Components of marketing mix: advertising, personal selling, sales promotion and publicity
Advertising: messages paid for by those who send them and are intended to inform or influence people who receive them
Personal selling: shows personal interest in the buyer by making the buyer feel obligated to listen and respond to seller
Sales promotion: persuades customer to make an instant purchase
Publicity: higher degree of credibility than advertising as business does not pay for the message. Main aim is creation of an image.
Functions and advantages of marketing
- advertising makes more people aware of product/service. They make demand increase
- helps manufacturer benefit from mass production which lowers cost per unit
- increases standard of living as people are made aware of products more suited to their pockets
- makes task of salesman easier
- warns people against rip-offs
- increases reputation of business
Principles of advertising
- only good quality products must be advertised
- marketer must be knowledgeable about the product before advertising it
- lasting impression must be created by using a striking design, feature and slogan
- incorrect info must be avoided
- competitors must never be criticised
- keep advertising expenses as low as possible
Unethical advertising
- false advertising
- giving products deceptive names
- making false statements about competitors
- engaging in cultural pollution which is discrimination against races, cultured, disabled
- creating false wants which is materialism
Advertising media and methods
- important to keep reminding consumer about product by basing advertising campaign on the trade mark
- trade mark is distinctive design/name/sign/symbol given to a product that distinguishes it from products of competitors
- once a trade mark is registered, it may not be used by anyone else
Advertising media and methods: digital marketing
- digital marketing is the term used for online marketing
- allows business to connect with target audience instantaneous
- reinforces brand loyalty
- has invaluable feedback from supporters
- it is cheaper than traditional advertising
Planning an advertising campaign
- market research
- aims of campaign
- budgeting for the campaign
- choice of media
- design and wording
- co-ordination
- testing the result of the campaign
Planning an advertising campaign explained
Market research: identify and study target marker, look at competitors and their products
Aims/objectives: once these are clearly defined, it will be possible to measure the success of the business
Budgeting for the campaign: important to have sufficient funds allocated to the campaign
Choice of media: choice must reach target audience. Availability of time and space and nature and content of message must be taken into account
Design/wording: advert must be designed to achieve AIDA
Co-ordination: important for goods to be at all dealers when advert is run
Testing the result: consumers may be asked to mention name of paper/magazine where they saw the advert
Requirements of a good advertisement - AIDA
Attention- there must a “stop” factor. Elements must have a high appeal factor
Interest - getting the target audience to engage with the product/band
Desire - the target audience should want to find out more and engage with the product
Action - the target audience must actively engage with the message portrayed by the brand
Advertising practitioners
- specialise in detailed advertising campaigns that will suit the needs of the client
- consultants receive commission from the media in which they place the advert
- duties/responsibilities of the advertising practitioners:
1. The consultant just have thorough knowledge of the target market and the product that is advertised
2. The advertising campaign is then planned around the above-mentioned findings
3. Consultant will approach the media and negotiate space, time and rents
