principles of marketing session -39, 40 promotion mix
TRANSCRIPT
Principles of Marketing
Session -39, 40
Promotion Mix
Promotion Mix
Promotion Mix consists of the following elements
1. Advertising
2. Sales promotion
3. Personal selling
4. Public relations
5. Direct Marketing
Promotion Mix
•Advertising is "any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor."
•Specific media tools include print (magazines, newspapers, direct mail), broadcast (television, radio), and display (billboards, signs, posters).
Promotional objectives
To support sales increases To encourage trial To create awareness To inform about a feature or benefit To remind To reassure To create an image To modify attitudes
The Promotional Message
Grab ATTENTION
Excite INTEREST
Create DESIRE
Prompt ACTION
AIDA
Media
TV
Radio
Cinema
Outdoors
Internet
Characteristics of Press media
Offers a high degree of market coverage with large circulation
Targeting specific segments is possible
Cost-effective compared to television
Lead time is short
Characteristics of Television media
Creates high impact with colour sound and movement
Easy to target specific segment
It covers large audience
Characteristics of Radio media
Cost-effective compared to TV and press
Can target specific segments easily
Relatively mobile
Characteristics of cinema media
High impact with visual, sound and movements
Targeting youth population is easier
Regional reach is possible
Characteristics of posters/outdoor media
Ads can be repeatedly seen
24/7 coverage
May encourage impulse buying if close to shops
Maximum local reach is possible
Message
Message: Message is the thought, idea, attitude, image or other information that the advertisers wishes to convey to the targeted audience
Types of appeal for message:Rational
Emotional
Fear Appeal
Humour appeal
Music appeal
Sex Appeal
Advertising
Marketing mix
product Price Place Promotion
Advertising
Role of Advertising in Marketing mix
Important component Advertising helps to increase the volume of sales Advertising helps communicating sales promotion Advertising department help in formation of product
image Advertising helps in the price reduction of the product
Role of Advertising in Promotion Mix
Helps in effective personal selling
Enhanced publicity
Helps in the success of sales promotion
Better reach of sponsorship to the target publice
Advertising
Functions of Advertising
Primary FunctionSecondaryFunctions
Increasingsales Persuading
Dealers To stock
AssistInLiquidatingstock
ResponseForNew products
Creation of Demand
EliminateSeasonalFluctuations
IncreaseStd of living
Advertising
Secondary Functions
EncouragementTo salesmen
Helps in makingCorrect claims
ImpressProduct quality
Creating aSenseOf security
EmploymentOfEfficientemployees
Models of function of advertisement
Unawareness
Awareness
knowledge
LikingPreference
conviction
Purchase
Hierarchy of Effects model developed by Lavidge and Steiner
Promotion Mix
Sales Promotion:
Sales promotion is the use of "short-term incentives to encourage the purchase or sale of a product or service."
The key term is "short-term," as most sales promotions have a finite time frame when the terms of the offer are in force.
Sales promotions aimed at the consumer are often communicated at the point-of-sale (e.g. via in-store displays or on-package mentions),
convey a "Buy me NOW!" message.
Promotion Mix
Sales promotion tools include premiums, discounts, coupons, cash rebates and demonstrations.
Although this is also a non-personal form of communication, many sales promotion themes are intended to spark personal interest in the product or service being promoted.
Promotion Mix
Personal Selling:• "Two-way communication for the purpose of making sales and
building customer relationships."
• This form of communication is "personal." It provides a forum for immediate exchange of needs, goals, ideas, and feedback.
• A good salesperson listens to the customer and reacts to the information being conveyed.
Promotion Mix
Personal selling tools include sales presentations, trade shows, and incentive programs.
Product-related information can be tailored to the individual (or group), and presented in a way that is meaningful and pertinent to the situation
Promotion Mix
Public Relations:• Public relations is intended to build good relations with the
company's various publics by obtaining favorable publicity, building up a good "corporate image," and handling or heading off unfavorable rumors, stories, and events
• Public relations offers several unique qualities. It is very believable -- news stories, features, and events seem more real to readers than ads do.
Promotion Mix
• Public relations can also reach many prospects who avoid salespeople and advertisements; the message gets to the buyer as "news" rather than as a sales-directed communication
• Like advertising, public relations can dramatize a company or product