Transcript Promotion
Tom one of the market mix elements Promotion Tom What is Promotion? promotion What is Promotion? Promotion is communicating a product or service to consumers. promotion refers to a different sort of advancement. A sales promotion entails the features - via advertising and/or a discounted price - of a particular product or service. Product promotions are designed to increase sales of a product or service. Promotional tactics run the gamut - from coupons to "two-fer" sales to straight dollar markdowns or percentage discounts and simple advertising blitzes. Promotion Promotion Mix • Promotional mix is a firm’s techniques used to achieve marketing objectives • Advertising – communication of a product/service through media • The repetition of an advertisement communicates the message across of the consumer clearly • The message can covered to a wide audience • Personal selling – directly promoting a product/service to a consumer in person • The interaction between buyer and seller builds a trust and a stronger persuasion • There is a high customer attention Promotion Mix • • • • • • • • • Sales promotion – strategic promotion of sales, such as coupons and free gifts, to encourage and increase purchases Enables a rapid increase in sales Urges customers to choose/switch brands or try a product Merchandising – exhibiting products to increase sales Stimulates impulsive buying Assists in the promotion of advertising campaigns Public relations – creating good relations with customers Enables positive communication with the public and customers Develops the image and reliability of a firm and its products Promotion Mix • Sponsorship – a firm supports another firm through payment for an event/organisation/person • Allows for a positive image of a firm to be shown in front of customers • Benefits both sides of sponsorship in terms promotion and customer relations • Direct marketing – promotional material communicated to independent customers via email, telephone, or post • Creates a specific response in targeted customers • Creates new business and builds customer loyalty Tom What is branding branding is a set of perceptions and images that represent a company, product or service. Branding What is branding? Any brand is a set of perceptions and images that represent a company, product or service. While many people refer to a brand as a logo, tag line or audio jingle, a brand is actually much larger. A brand is the essence or promise of what will be delivered or experienced. Importantly, brands enable a buyer to easily identify the offerings of a particular company. Brands are generally developed over time through: • Advertisements containing consistent messaging • Recommendations from friends, family members or colleagues • Interactions with a company and its representatives • Real-life experiences using a product or service (generally considered the most important element of establishing a brand) Once developed, brands provide an umbrella under which many different products can be offered--providing a company tremendous economic leverage and strategic advantage in generating awareness of their offerings in the marketplace. Interchanging Brands • The brand of Coca-Cola has been and continues to be the most popular brand of cola to the point where any form of cola is referred to as Coke. A supermarket’s noname brand of cola, such as Safeway’s, is not affiliated with Coca-Cola in anyway and yet customers refer to it as Coke • Ibuprofen is a common medication used to alleviate headaches and other bodily pains, the most common brand of it being Advil. Other brands of ibuprofen are called Advil because of this commonness. • • • Interchanging Brands The velvet tracksuits that Juicy Couture is known for are so famous that when other highfashion brands, such as Bebe and Adidas, produce similar velvet tracksuits the style is instantly referred to and recognised as distinctly Juicy Couture. Rollerblade’s inline skates have become the foundation name for all types of inline skates around the world. The brand’s trademark look is one that is constantly used and therefore retains the identity of a Rollerblade regardless of other inline skate names. Ray-Ban is a brand of sunglasses with a universally-recognised distinctive shape. Knock-off brands that imitate the style are therefore naturally referred to as Ray-Bans, even if the style of the knock-off is not a complete replica of the actual Ray-Ban style. Types of Advertising »There are seven types of advertising – informative, persuasive, reminder, reinforcement, pioneering, competitive, and defensive. Types of advertising • • • • • • Informative Provides information about a product to customers to gain a more credible appearance Example: Sketcher’s “Shape Ups” are constantly advertised on television, providing information on how the rounded sole of the shoe helps the body to tighten and exercise muscles through scientific explanations Persuasive Establishing differences and therefore advantages of switching brands Example: Dove’s “Beauty Bar” versus Ivory’s “Original Bar Soap” is an advertisement that encourages customers to buy Dove rather than Ivory because of Dove’s characteristic moisturizing qualities that Ivory lacks Pioneering Introducing a new product with the use of celebrities Example: Cover Girl's “Lash Blast 24 HR Mascara” is a fairly new product that is endorsed by celebrity Sofia Verger on both television and in magazines, her bold and easily remembered personality making her a perfect persuader 5 Ms of advertising 1. Mission : This refers to the purpose/objective behind advertising. The objectives behind advertising are varied in character. 2. Money : This refers to the finance provided for advertising purpose (advertising budget). 3. Message : Message is provided through the text of advertisement. The message is given through written words, pictures, slogans and so on. 4. Media : Media of advertising are already noted previously. The advertiser has to take decision about the media to be used for advertising purpose. 5. Measure : Measure relates to the effectiveness of advertising. An advertiser will like to make evaluation of advertisement in order to judge its effectiveness. Types of Advertising Medias • Promotion • Printed media • Advantages – • Can easily be directed to targeted audiences • Publication is frequent and more inexpensive than television • Disadvantages – • Not all members of the targeted audiences read printed media • Low impact due to lack of audio effects Outdoors • Advantages – • Induces impulse buying if placed in targeted areas close to shops • There is a constant 24/7 coverage • Disadvantages – • If placed on roads they are rarely seen or comprehended by drivers who want to avoid a road hazard • The message conveyed is limited in terms of size and length Types of Advertising Medias • • Internet • Advantages – • Due to the ease of recording hits, measurement of the campaign’s impacts can be assessed quickly • Inexpensive and quick to load • Disadvantages – • Technical problems are inevitable • Listings on search engines can be high-priced Cinema • Advantages – • All attractive affects like visual, audio, and movement are present to engage the audience • The audience is captive and therefore easily impacted • Disadvantages – • The audience is generally young, making the impacts ineffective at times • The advertisement may only be seen once Types of Advertising Medias • Television – Advantages • A large audience is present as well as targeted groups • A good first impression can be made through color, sound, etc. – Disadvantages • There is a limited amount of time for the message to be conveyed • Most television advertisements are not watched • Radio – Advantages • Can target specific groups • Advertising on air is fairly low-cost – Disadvantages • Advertising is local, not national • A good first impression is hard to make without visual effects This video make me want to get the water, the video is fun, and people can enjoy the video while know the good thing about the water. It is different from normal videos. Marketing