Lecture Session 4
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Transcript of Lecture Session 4
1BUSI
NES
S Promoting Products
2BUSI
NES
S What Is Promotion?
Aspect of the marketing mix concerned with the most effective techniques for selling a product
3 BU
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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 product image in the minds of consumers
Adding Value Controlling 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 Four types of promotional tools:
Advertising Personal Selling Sales Promotions Publicity and
Public Relations
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The Target Audience: Promotion and the Buyer Decision Process
Five stages in the buyer decision process:
1. Buyers must recognize the need to make a purchase.
2. Buyers want to learn more about available products.
3. Buyers compare competing products.4. Buyers choose products and purchase
them.5. Buyers evaluate products after
purchase.
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The Consumer Buying Process and the Promotional Mix
9BUSI
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S 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 Awareness advertising aims to
make consumer aware and knowledgeable about the Brand
Persuasive advertising seeks to influence consumers to buy a company’s products rather than its rivals’Such as Comparative advertising directly
compares two or more products Reminder advertising helps to
keep the product name in the consumer’s mind
11BUSI
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S 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
Data Mining and Date Warehousing for Internet Advertising
13BUSI
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S What Is an Advertising Campaign?
Arrangement of ads in selected media to reach targeted audiences
14BUSI
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S What Is an Advertising Agency?
Independent company that provides some or
all of a client firm’s advertising needs
15BUSI
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S What Is Personal Selling?
Promotional tool in which a salesperson communicates one-on-one with potential customers
16BUSI
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S What Is Telemarketing?
Use of telephone solicitations to conduct the personal selling process
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Sales Force Management
Sales force management means: Setting goals at the top
levels of an organization Setting practical objectives
for salespeople Organizing a sales force
that can meet sales objectives
Implementing and evaluating the success of the overall sales plan
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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
19BUSI
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S 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
Contests are used to induce sales among customers, distributors and sales representatives
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22BUSI
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S What Is Publicity?Promotional tool in which information about a company or product that is transmitted by general mass media
23BUSI
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S What Is Public Relations?Company-influenced publicity directed at
building goodwill with the public or dealing
with unfavorable events