promotion strategy Flashcards
elements of promotion mix
- personal selling
- advertising
- sales promotion
- publicity & public relations
what is promotion?
promotion is a persuasive communication between the business and its target market
explain personal selling
Promotion is delivered in a personal, one to one manner between the seller and the buyer
sellers hold one to one conversation with buyers because product requires explanation and demostration
eg. selling insurance policies
what is prospecting?
systematic process of looking for new customers (personal referrals)
what is impersonal referrals
gets referrals from newspapers,magazines and then make self introductory calls
what is customer-initiated contacts
potential customers making the inquires (eg. through flyers)
explain advertising
impersonal communication as it used social media to reach to big group of customers at one time such as through bus ads, newspapers, tv, social media
explain sales promotion
use of short-term incentives to attract attention and encourage purchases
sales promotion tools
- advertising specialties: free gifts with brand logo and name given when attending an event
- sampling: free food to try and sold at a discounted price during this period
- coupon
- free gift when spent a specific amount
- contest: during festive seasons like cny to spin wheel for price
- patronage rewards (loyalty card)
- trade-in
explain publicity and public relations
publicity is information about a company or product that appears in the news and is not directly paid by the company
public relations is any communication or activity intended to win goodwill for a company and build reputation
forms of prospecting
- personal referrals
- impersonal referrals eg. getting referrals from published source eg. news, bus ads and magazines
- customer initiated contact eg. customers making inquiries
