Week 11 Promotion Flashcards
What is the promotion mix (All Paid People Save Daily)
Advertising, Public Relations, Personal Selling, Sales Promotions, Direct Marketing
Define Advertising & it’s nature
Paid promotion, known sponsor
relationships build value
3 classes
Inform - new products
Persuade - to compete (beware attack adv)
Remind - mature products, maintain relationship
Advertising pros & cons?
Pros reach legitimises builds brand quick
Cons
impersonal, 1 way, tv costly
Define Public Relations & it’s nature
Def
build publics via publicity, image & media management
Nature:
• coverage in media not paid for by a sponsor.
• other parties exponentially increase a message.
• Tools – news, speeches, sponsorship
PR pros & cons?
Pros
Credible, reaches those resisting sales, builds brands, mixes well with other elements.
Define Personal Selling & it’s nature
Def
Personally sales and build customer relationships.
Nature
• Interpersonal
• builds loyalty.
• To many customers the sales person is the company.
Personal Selling pros & cons?
Pros
Person, builds relationshops, agile, high response rates.
Cons
Costly, difficult to adjust sales force
Define Sales Promotions & it’s nature
Def
Short term encourage purchase or sale of product or event.
Nature
Tool for short term response or to build long term relationships eg samples, cashbacks, sponsorships.
Sales Promotion Pros & Cons
Pros
Attract attention, builds brands, quick response
Cons
Short term, ineffective at long term branding & relationship building
Define Direct Marketing & it’s nature
Direct marketing
Def
targeted individuals, mmediate response, lasting customer relationships.
Nature
• databases, tailored to narrow segments or even individuals.
• direct, immediate & measurable response.
• can be supplemental or entire bus model
Direct Marketing pros & cons
Pros
Personal, immediate & customisable, interactive (opens a dialogue), suits targeted efforts
Define Integrated Marketing Communications (IMC)
The careful integration of promotion mix to deliver a clear, consistent, compelling message about an org / brands.
Each touch point is an opportunity.
What changes in the marketing landscape have prompted IMC
- Sophisticated customers
- Targeting strategies
- Communications technology
- Breakdown in mass marketing coverage
What is a ‘push’ promotion strategy
Sales & promotions are used to push product to market channels who in turn promote it to customers.
B to B usually ‘push’ more.
What is a ‘pull’ promotion strategy
Producers market products to final customers using ads & promotion to create demand.
B to C usually pull more.
