Transcript PROMOTION
PROMOTION AND PROMOTIONAL MIX DEFINITION OF PROMOTION • Communication used to inform, persuade and educate prospective customers about a product, service or company. PROMOTION • • • • • Persuasive communication Inform prospective customers about products and services Enhance public image and reputation Enhance image of product or service as valuable Educate public about an issue or trend (mostly used by nonprofits) TYPES OF PROMOTION • PRODUCT • INSTITUTIONAL PRODUCT PROMOTION • Convince customers to buy a product or service instead of the competitor brand • Promotional activities explain the major features and benefits of the product or service • Identify where it is sold, advertise sales, answer customer questions • Introduce new offerings • Helps companies foster good relationships with existing customers and increase loyalty INSTITUTIONAL PROMOTION • Activities and advertising that creates a positive image of a company or product • Product features and benefits are NOT used in this form of promotion • Examples: • Holiday Budweiser commercial • Sponsorship of charity events- Komen for the Cure PROMOTIONAL MIX • Strategy used by companies to inform and persuade a target market • “Any combination of Advertising, Selling, Publicity, and Sales Promotion” PROMOTIONAL MIX • ADVERTISING • SELLING • PUBLICITY • SALES PROMOTION ADVERTISING • Paid communication • One-way communication • Broadcast (TV, Internet, Radio) • Print (Newspaper, Magazines, Direct Mail) • Outdoor (Billboards, Marquis) • Transit (Busses) • Social Media SELLING • Face-to-face interaction with customer • Persuasive approach – educate and inform about the product/service • The goal is to lead the customer to a correct buying decision for their needs • Business-to-business selling • Business-to-consumer selling PUBLICITY and PUBLIC RELATIONS • Activities that influence a target audience • Creates a favorable image for the company, it’s products, or policies • Cultivate media relations • IMAGE! Chrysler Eminem Super Bowl Commercial - Imported From Detroit: http://www.youtube.com/watch?v=SKL254Y_jtc SALES PROMOTION • All marketing activities other than • Advertising • Selling • Publicity/PR • Activities that drive product sales • Examples: Coupons, contests, raffles, special events ACTIVITY • Select a video: (my example: the 3 day) • Identify as Product Promotion or Institutional Promotion • Explain why • Identify which part of the Promo Mix is applicable & why