promotions Flashcards
Major factors of change in communications landscape
Consumers/ Customers (expectations to move towards digital marketing)
Marketing strategies
Focused marketing programs
Narrowly defined / Micro market segments
Advances in technology ( personalized interactive content )
Advertising
Refers to any paid form of nonpersonal presentation and promotion of ideas, goods or services by an identified sponsor.
Public relations
Refers to building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image, and handling odd, unfavorable rumours, stories and events.
Personal selling
Refers to personal presentations by the firm’s sales force for the purpose of engaging customers, making sales, and building customer relationships.
Sales promotions
Short-term incentives to encourage the purchase or sale of a product or service.
Direct marketing
Refers to engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.
What is inform, persuade and reminder ads used for?
Inform - New products. Functions/benefits that product can offer to consumers. Increase in awareness?
Persuade - Products where there is stiff competition. Increase in sales?
Remind - Don’t need to tell people what the product is about. Consumers are already convinced. Increase in recall rate?
Types of advertising
Digital
Radio & TV
Out-of-home
Newspaper
Factors in public relations
Development
Investor relations
Press relations
Product & Brand publicity
Development
To work with donors or members of non-profit organizations to gain financial or volunteer support.
Investor relation
to maintain relationships with shareholders and others in the financial community.
press relations
create and place newsworthy information in the news media to attract attention to a person, product, or service. Also used by the government to address public concerns.
brand & publicity
publicize specific products or brands which involve the use of special events, audio-visual materials and press kits
What are the steps in selling process?
- Prospecting & Qualifying
- Pre-approach
- Approach
- Presentation/demonstration
- Handling objections
- Closing
- Follow-up
Prospecting & Qualifying
Salesperson identifies qualified potential customers. Reach out to highly interested and suitable customers to focus efforts and resources on potential leads.
Pre-Approach
Salesperson learns as much as possible about prospective customers before making sales calls.
Find out customer’s knowledge on the company & its products, competitor’s products. Find out more about what the customer is like to facilitate this process.
Approach
Meeting between salesperson and prospective customer. Form good first impressions.
Presentation/Demonstration
Salesperson starts conveying the value of company’s products. Focusing on solving existing problems / unmet needs that customer experiences .
Handling objections
Understand the customer’s thought process/mind to close sales effectively by clarifying objections made.
Closing
Persuasion
Follow-up
Ensure customer satisfaction.
E.g. Thank you note / Calling to check in on product/service to make sure customer’s expectations are met
What are the types of direct marketing?
Online advertising
Electronic direct mailer (EDM)
Websites & branded web communities
Mobile (in app marketing) - Shown messages activated through push notifications
Catalogue marketing (Digital/Physical)
Telemarketing
Flyers
What are the types of sales promotion?
Samples
Coupons
Price packs
Premiums
Point of purchase items
Refunds/Cashbacks
Lucky draws
Event marketing
