Fan Zhangz. PROMOTION IS ONE OF THE MARKET MIX ELEMENTS. A PROMOTIONAL MIX SPECIFIES HOW MUCH...
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Transcript of Fan Zhangz. PROMOTION IS ONE OF THE MARKET MIX ELEMENTS. A PROMOTIONAL MIX SPECIFIES HOW MUCH...
![Page 1: Fan Zhangz. PROMOTION IS ONE OF THE MARKET MIX ELEMENTS. A PROMOTIONAL MIX SPECIFIES HOW MUCH ATTENTION TO PAY TO EACH OF THE FIVE SUBCATEGORIES, AND.](https://reader036.fdocuments.net/reader036/viewer/2022062719/56649ec05503460f94bcbe7b/html5/thumbnails/1.jpg)
Promotion
Fan Zhangz
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PROMOTION IS ONE OF THE MARKET MIX ELEMENTS. A PROMOTIONAL MIX SPECIFIES HOW MUCH ATTENTION TO PAY TO EACH OF THE FIVE SUBCATEGORIES, AND HOW MUCH
MONEY TO BUDGET FOR EACH. A PROMOTIONAL PLAN CAN HAVE A WIDE RANGE
OF OBJECTIVES, INCLUDING: SALES INCREASES, NEW PRODUCT ACCEPTANCE,
CREATION OF BRAND EQUITY, POSITIONING, COMPETITIVE RETALIATIONS, OR CREATION
OF A CORPORATE IMAGE.
Define promotion. What does promotion do?
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What is promotion?
It equals marketing communication. It involves communication about the product the product or service.Promotion is an element in the marketing mix.Communication techniques aimed at informing, influence and persuading customers to buy or use a particular.
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Advantages
1. Advertising• Wide coverage• Control of
message• Repetition
means that the message can be communication
• Can be used to build brand loyalty
2. Personal selling• High customer
attention• Message is
customized• Interactivity• Persuasive impact• Potential for
development of relationship
• Adaptable• Opportunity to close
the sale
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3. Sales promotion
• Effective at achieving a quick boost to sales
• Encourages customers to trial a product or switch brands.
4. Merchandising
• Displaying products to maximize sales
• Operates at the ‘point-of-sale’
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5. Public relations• Can achieve
favorable publicity about the business
• Can communicate effectively with customers and other stakeholders
• Can build the image and reputation of the business and its products, particularly amongst customers
6. Sponsorship• Sponsoring
events that appeal to their market are likely to shape buying attitudes and help generate a positive reaction.
• Promotes the 'Brand Image'
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7. Direct Marketing• Focus limited resources on
targeted promotion• Can personalize the marketing
message• Relatively easy to measure
response & success• Easy to test different marketing
message• Cost-effective if customer
database is well managed
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What is branding? Branding is establishing an identity for a product that distinguishes it from competitors.The adoption of values, image, awareness, recognition, quality, features, benefits and name for a product.A brand is the sum of the characteristics of a product perceived by user.
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Why brand?• To differentiate the product• To aid advertising• To build loyalty• To facilitate recall• To communicate value of the
product• To target segments• To aid recognition• To protect the product• To promote the product• To convey the image of the
product
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5 products brandedPepsi-Coke
Lyreco
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Dell-Intel
Media clip
PC-IPad
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Types of advertising
Informative – provides information
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Persuasive – to encourage brand switching
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Competitive – to point out differential advantages
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5 Ms of advertising
• Mission – objectives
• Money – to pay for the campaign
• Message – to be delivered
• Media – choice of advertising media
• Measure – measuring the impact
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1.Print media – newspaper and magazinesAdvantages:• Widely read• Short lead time• Local. Regional and
national papers available
• Color printing adds to impact
• Inexpensive compared to television
Disadvantages:• Short life • Low impact• Not every group
reads a paper• High costs
especially for national newspaper
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2. Television
Advantages:• Large audience• Low cost per exposure• High impact – color,
sound and movement• Can target specific
groups
Disadvantage:• Very high overall cost• Limited prime time
space• Short-lived• May not be watched –
visual wallpaper• Proliferation of
channels• Reduces audience• Conveys only a
limited message
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3. Radio Advantages:• Relatively
inexpensive• Can target
specific segment
• Relatively mobile
• local
Disadvantage: • Limited impact• No vision• Short life• Listener’s
attention limited• Audio wallpaper• Mainly local
rather than national
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4. Cinema
Advantages:• High impact• Captive audience• Can be specifically
targeted• Local audience• Visual,
sound, ,movement
Disadvantages:• Limited audience• Mainly young
audience• Short lived
message• May only be seen
once
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5. Outdoor
Advantages:• Repeatedly seen• Target particular
area• May encourage
impulse buying if close to shops
• Local media
Disadvantage:• Message must be
short and simple• Cannot target
socio economic groups
• Rarely attract full attention
• Short lived• Difficult to
measure effectiveness
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6. Internet
Advantages:• Cheap• Easy to set up• Easily updated• Number of hits
can be monitored – useful measure of effectiveness
Disadvantages:• Problems of
connecting• Limited audience• Technical problems• Banner adverts not
very effective• Search engine listing
can be costly
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TV commercials
These styles are unique. These commercials show good quality and benefits of products. They also provide a lot of useful information about products. Human will be interested in these products because of these advertisements.