marketing of financial products & services-marketing mix - promotion strategy
DESCRIPTION
Marketing of Financial Products & Services-Marketing Mix - Promotion StrategyTRANSCRIPT
1
Marketing of
Financial
Products
1 MoFP for
TKW’s
Lecture – 7 Parveen Sharma
2 MoFP for
TKW’s
2
Contents
Promotion Strategy
The Concept
Importance of Promotion
Components of Promotion Advertising
Public Relation
Sales Promotion
Personal Selling & Telemarketing
Cause Related & Sponsorship
Web & Online
Word of Mouth
Selecting Media
Promotion & Image Building
3
N
N
Promotion Strategy: The Concept
MoFP for
TKW’s
Promotion is considered to be a device to communicate the
outstanding properties of different mixes to the customers with the
motto of influencing them.
Promotion is a managerial process to inform, sense, sensitize,
persuade and transform the potential customers to actual and habitual
customers.
4
N
N
Promotion Strategy: The Concept
MoFP for
TKW’s
Aims of Promotion
Persuasion
Informing
Reminding
Reinforcing
Awareness Interest Desire Action
5
N
N
Promotion Strategy: The Concept
MoFP for
TKW’s
6
N
N
Promotion Strategy: The Concept
MoFP for
TKW’s
7
N
N
MoFP for
TKW’s
Components of Promotion
Advertising Public
Relation Sales
Promotion Personnel
Selling Tele-
marketing Web/online marketing
Cause Related &
Sponsorship
Word of Mouth
Components of Promotion
Sales Promotion is a part of Promotion
8
N
N
MoFP for
TKW’s
Components of Promotion
Advertising
9
N
N
Advertising Process
MoFP for
TKW’s
Setting the Objective
Finalizing Advertising Budget
Creating Campaign
Selecting Media
Evaluating Campaign
Pre-testing & Post-testing advertisement
Components of Promotion
10
N
N
MoFP for
TKW’s
Components of Promotion
Public Relation
11
N
N
MoFP for
TKW’s
PR & Its Dimensions
Press Meets
Speeches
Seminars
Annual Reports
Donations
Sponsorships
Lobbying
Identity Media
Components of Promotion
12
N
N
MoFP for
TKW’s
Components of Promotion
Sales Promotion
13
N
N
Importance of Sales Promotion
MoFP for
TKW’s
Encouraging to try out new scheme
Enticing customer for existing scheme
Providing customer a reason for buying
Encouraging frequent purchases
Counteracting downward trend in demand
Increase business
Fighting competition
Components of Promotion
14
N
N
MoFP for
TKW’s
Components of Promotion
Personal Selling & Telemarketing
15
N
N
MoFP for
TKW’s
Web & Online
Components of Promotion
16
N
N
MoFP for
TKW’s
Reliance Mutual Fund : Quotivation
ICICI Prudential : Financial Friday
Components of Promotion
17
N
N
MoFP for
TKW’s
Cause Related & Sponsorship
Components of Promotion
18
N
N
MoFP for
TKW’s
Cause Related & Sponsorship
Also visit:
https://www.youtube.com/watch?v=jWpWtC
eIvUA
Components of Promotion
19
N
N
MoFP for
TKW’s
Word of Mouth
Building a volunteer marketing force
'seeding' a message in a network,
rewarding regular consumers to engage in WOM,
employing WOM 'agents‘
Creating buzz
Components of Promotion
Increasing numbers of consumers
are turning to friends and family
as their primary source of trusted
information on buying financial
products.
N
N
20 MoFP for
TKW’s
Selecting Media
An Optical Mix
Coverage
Frequency
Cost effectiveness
Type of Products
Type of Massage
Budget Constraints
vs
21
N
N
Promotion & Image Building
MoFP for
TKW’s
Max Life Insurance
advertisement campaign
“ Aapke Sache Advisors”.
ICICI Lombard’s “Vaade
Vahi Jo Nibhaye Jaye”.
22
N
N
MoFP for
TKW’s
Promotion & Image Building
24
Thank
You MoFP for
TKW’s
24