mt 219 marketing unit eight the promotion mix components
TRANSCRIPT
![Page 1: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/1.jpg)
MT 219 Marketing Unit Eight
The Promotion Mix Components
![Page 2: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/2.jpg)
Review of Unit 7
• Questions or concerns?
• How is the Final Project coming?
• Additional questions?
![Page 3: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/3.jpg)
Our Topics for This Week
The promotional mix:
Advertising
Public Relations
Personal Selling
Sales Promotion
![Page 4: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/4.jpg)
Advertising
• Paid non-personal communication through mass media
• Advantages- Cost efficient on a per person reached basis- Highly flexible, and allows for repetition- Adds value / legitimacy
• Disadvantages- Out of pocket outlay is high- Hard to measure sales effect unless source coding is used- Feedback usually slow
![Page 5: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/5.jpg)
Types of Advertising
• Institutional:- promotes organizational images, ideas, and political issues
- can also be used to create or maintain an organizational image
• Advocacy- promote a company’s position on a public issue, such as smoking, drinking, gun control and so on
• Product (most familiar):- promotes the uses, features, and benefits or products
- can stimulate demand, be competitive, make direct comparisons, remind consumers about the benefits of established brands, or reinforce purchases, and how to get the most satisfaction from product
• Pioneer: - focuses on stimulating demand for a product category
![Page 6: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/6.jpg)
Types of Advertising
• Competitive:- points out a brands’ special features, uses, and advantages relative to competing brands
• Comparative:- make direct comparisons with competing brands (similar or dissimilar)
• Reminder:- remind consumers about the benefits of established brands
• Reinforcement:- reinforce their purchases by telling them they chose the right brand and telling them how to get the most satisfaction from it
![Page 7: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/7.jpg)
Developing an Advertising Campaign
Parallels the Management Process- Plan, organize, lead and control
• Identify and analyze target audience• Define advertising objectives• Create advertising platform• Determine advertising appropriation• Develop media plan• Create advertising message• Execute campaign• Evaluate advertising effectiveness
![Page 8: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/8.jpg)
Major Advertising Objectives
• Inform
• Persuade
• Remind
• Good way to remember this is R.I.P.
![Page 9: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/9.jpg)
Message Strategy
• Message should be- Relevant and important
- Believable
- Executable
- Able to convey competitive advantage
- Memorable
- Undertake some effect to move consumer towards some action
- Consistent with other parts of the promotional mix
• Two most important traits: - 1) relevant and important to the target. When Bud Light implies that young men drinking Bud have fun, that has to be important to those who might purchase Bud Light. When Afflack promises to take care of all your needs should you become incapacitated, that has to be an important message to their target.
- 2) It should also be believable.
![Page 10: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/10.jpg)
Setting the Budget
• Objective and task - identify the tasks required to achieve those objectives, and then cost them out
• Percent of sales - a certain percent of anticipated sales is allocated for advertising
• Matching competition – exactly or budget according to their market share %
• Arbitrary – “pick a number, any number” (often…choose what’s been done historically, adjusting for inflation)
• Affordable – what can do. (many smaller or beginning don’t really have the money to so much of anything)
![Page 11: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/11.jpg)
The Media Plan
• Specific methods- media vehicles and schedule - Examples?
• Sets reach and frequency objectives - % of target audience exposed to message over specified period of time & number of times within the period those exposed see the advertisement
• Sets scheduling patterns- Continuous: marketer advertises at usually low but constant levels throughout the media plan period (products that are consumed year around with no real seasonality)
- Pulsing: where the advertising will spike at peak sales times (flowers at Valentine’s day, etc.)
- Intermittent (irregular): alternates periods of advertising with periods with non-advertising (be more visible while advertising instead of spreading ads out so much they might be invisible)
![Page 12: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/12.jpg)
Major MediaNewspapers
AdvantagesReaches large audiencesPurchased to be readShort lead timeFrequent publicationBelievableGood for comparisonCan cover local areas
DisadvantagesNot selective socioeconomic allyShort lifePoor reproductionClutteredNot as popular as they once
were
![Page 13: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/13.jpg)
Magazines
AdvantagesSelectivity
Good reproduction
Long life
Prestigious
Full color ads
DisadvantagesHigh absolute dollar cost
Long lead time
![Page 14: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/14.jpg)
Television
Advantages
Large audiences
Low cost per person reached
Sight and sound
Visible
Confers legitimacy
Disadvantages
High out of pocket cost
Perishable / Waste coverage
![Page 15: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/15.jpg)
Radio
AdvantagesInexpensive
Flexible
Targeted
DisadvantagesAudio only
Background medium
Short life
![Page 16: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/16.jpg)
Push vs. Pull – how we direct $$
• Push - budgets are directed to resellers, often through personal selling
• Pull – budgets are directed to the consumer, often through advertising and promotion
![Page 17: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/17.jpg)
Issues involved with Promotion
• Is promotion deceptive?• Does promotion increase prices?• Does promotion create needs?• Does promotion encourage materialism?• Should potentially harmful products be advertised?• Other?
![Page 18: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/18.jpg)
Public Relations
Communication efforts used to create and maintain favorable relationships between an organization and its stakeholders. Also called publicity.
Individual brands generally have publicity/public relations done at the corporate level.
Some people call this “free advertising,” but is can be expensive and must be done well to be effective.
Examples?
![Page 19: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/19.jpg)
Personal Selling
• Paid Personal Communication• Advantages
- Provides significant impact on customers due to personal contact
- Interactive- Allows for immediate impact and adjustment
• Disadvantages- Costly- most costly part of promotion based on people reached
• If it is so costly, why is it done?
![Page 20: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/20.jpg)
The Personal Selling Process
• Prospecting• Pre-approach- Research is important• Approach• Presentation• Overcoming objections• Closing the Sale• Follow-up- To help ensure subsequent purchases
![Page 21: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/21.jpg)
Sales Promotion
• Direct incentive to buy• May be directed at salespeople, resellers, and
consumers- anywhere in the distribution chain• Examples include free samples, coupons, contests,
premiums, rebates, buy one get one frees, etc.
![Page 22: MT 219 Marketing Unit Eight The Promotion Mix Components](https://reader030.vdocuments.site/reader030/viewer/2022013105/56649f455503460f94c66665/html5/thumbnails/22.jpg)
Any Questions?
Thank you for attending!
See you next week!