promoting products ch:3 for mba
Post on 19-Oct-2014
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Promoting ProductsTRANSCRIPT
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Promoting Products
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What Is Promotion?
Aspect of the marketing mix concerned with the most effective techniques for selling a product
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Information and Exchange Values
Promotions seek to accomplish four goals: Make potential customers aware
of products Make them knowledgeable about
products Persuade them to like products Persuade them to purchase
products
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Promotional Objectives Communicating Information Positioning Products
Positioning is the process of establishing an identifiable brand image in the minds of consumers
Adding Value Increasing Sales Volume
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Promotional Strategies
Pull strategy appeals directly to consumers who will demand the product form retailers
Push strategy encourages wholesalers or retailers to market products to consumers
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The Promotional Mix Types of promotional tools:
Advertising Personal Selling Sales Promotions Publicity Public Relations Word of Mouth
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What Is Advertising?
Promotional tool consisting of paid, nonpersonal communication used by an identified sponsor to inform an audience about a product
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Advertising Strategies Persuasive advertising seeks to
influence consumers to buy a company’s products rather than its rivals’
Comparative advertising indirectly compares two or more products
Competitive advertising directly compares two or more products
Reminder advertising helps to keep the product name in the consumer’s mind
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Advertising Strategies Generic (Primary) Demand Advertising
promotes a generic product category rather than a particular brand
Selective (Secondary) Demand Advertising promotes selective brands
Product Advertising promotes a product or a group of products
Institutional Advertising promotes an organization rather than a specific product
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What Is Advertising Media?
Variety of communication devices for carrying a seller’s message to potential customers
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Advertising Media Television Newspapers Direct Mail Radio Magazines Outdoor Advertising Internet Advertising
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What Is an Advertising Campaign?
Arrangement of ads in selected media to reach targeted audiences
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What Is an Advertising Agency?
Independent company that provides some or
all of a client firm’s advertising needs
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What Is Personal Selling?
Promotional tool in which a salesperson communicates one-on-one with potential customers
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What Is Telemarketing?
Use of telephone solicitations to conduct the personal selling process
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Personal Selling Situations
Retail selling is selling a consumer product for the buyer’s personal or household use
Industrial selling is selling products to other businesses, either for the purpose of manufacturing other products or for resale
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Types of Personal Sellers Inside Order Taker Outside Order Taker Delivery Sales Person Inside Seller Outside Seller Sales Engineer Sales Consultant
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What Is a Sales Promotion?Short-term promotional
activity designed to stimulate consumer
buying or cooperation from distributors, sales
agents or other members of the trade
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Types of Sales Promotions
Coupons are certificates entitling bearers to savings off regular prices
Point-of-Purchase (POP) displays are used to grab customers’ attention as they move through stores
Premiums are gifts given to consumers in return for buying a specified product
Trade shows are sponsored by industries for members and customers
Discount is a temporary price reduction Patronage rewards are given on sustained usage
of a product
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What Is Publicity?Promotional tool in which information about a company or product is transmitted by general mass mediaPublicity is freePublicity can be good or bad
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What Is Public Relations?Company-influenced publicity directed at
building goodwill with the public or dealing
with unfavorable events
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Word of Mouth
Any communication about an organization, its products, or policies thru the personal interaction of people in a society.