PROMOTION AND PROMOTIONAL MIX. Promotional Concepts and Strategies

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1 PROMOTION AND PROMOTIONAL MIX Promotional Concepts and Strategies

2 LEARNING TARGETS AST 3-1: STUDENTS WILL UNDERSTAND THE ELEMENTS OF THE PROMOTIONAL MIX: ADVERTISING, PUBLIC RELATIONS, PERSONAL SELLING AND SALES PROMOTION.

3 OBJECTIVES EXPLAIN THE ROLE OF PROMOTION IN BUSINESS AND MARKETING IDENTIFY THE COMPONENTS OF THE PROMOTIONAL MIX DESCRIBE THE CONCEPT OF THE PROMOTIONAL MIX

4 THE CONCEPT OF PROMOTION ONE OF THE 4 P S WORKS WITH THE OTHER 3 TO DEVELOP A SOUND MARKETING STRATEGY PROMOTION IS A FORM OF COMMUNICATION THAT USES VARIOUS METHODS TO REACH A TARGETED AUDIENCE WITH A CERTAIN MESSAGE IN ORDER TO ACHIEVE SPECIFIC GOALS NEARLY ALL ORGANIZATIONS, BIG AND SMALL, WHETHER FOR- PROFIT OR NOT-FOR-PROFIT, IN ALL TYPES OF INDUSTRIES, MUST ENGAGE IN SOME FORM OF PROMOTION.

5 INSTITUTIONAL VS PRODUCT PROMOTION INSTITUTIONAL PROMOTION IS USED TO FOSTER A FAVORABLE IMAGE FOR THE COMPANY, NOT DIRECTLY SELL A PRODUCT OR SERVICE CREATE A FAVORABLE IMAGE FOR A BUSINESS HELP AN ORGANIZATION ADVOCATE FOR CHANGE TAKE A STAND ON TRADE OR COMMUNITY ISSUES PRODUCT PROMOTION IS PRODUCT SPECIFIC HIGHLIGHTS A PARTICULAR PRODUCT WITHOUT MENTION OF THE COMPANY OR BUSINESS

6 INSTITUTIONAL VS PRODUCT PROMOTION BP OIL BP CHIEFS WERE HOPING THE CAMPAIGN WOULD HELP TO FURTHER IMPROVE PERCEPTION OF THE BRAND SAMSUNG SAMSUNG PURCHASED A 60-SEC SPOT TO RUN DURING THE OSCAR S 2017 POST CELL PHONE BATTERY DISASTER IN AN ATTEMPT TO GAIN MARKET SHARE BEN & JERRY S ICE CREAM

7 PIECES OF THE PROMOTIONAL MIX THERE ARE FOUR BASIC CATEGORIES IN THE PROMOTIONAL MIX: DIRECT MARKETING PERSONAL SELLING ADVERTISING SALES PROMOTION PUBLIC RELATIONS

8 DIRECT MARKETING FOCUS YOUR CAMPAIGN DIGITALLY CURATE INFORMATION THAT IS ATTRACTIVE AND DIRECT TO CUSTOMER USE NUMEROUS ONLINE PLATFORMS TO REACH MARKET WHETHER YOU GO TRADITIONAL AT HOME MAILERS OR DIGITAL, YOU HAVE TO BE INNOVATIVE! Home Mailer Digital Direct marketing (DDM) Dog Case Study

9 PERSONAL SELLING PERSONAL SELLING DIRECT FORM OF PROMOTION INVOLVES DIRECT CONTACT BETWEEN SALESPEOPLE AND CUSTOMERS. THIS CAN TAKE PLACE IN THE FORM OF: PERSONAL MEETINGS TELEMARKETING CONTACT CORRESPONDENCE RETAIL SETTING Personal Selling Defined

10 ADVERTISING ADVERTISING IS ANY PAID, NON-PERSONAL FORM OF PROMOTION ONE-WAY COMMUNICATION USED WITH MASS MARKETING IT CAN BE FOUND IN PLACES INCLUDING: NEWSPAPERS MAGAZINES TELEVISION WEB SITES BILLBOARDS CITY BUSES ANYWHERE!

11 SALES PROMOTION SALES PROMOTION REPRESENTS ALL MARKETING ACTIVITIES OTHER THAN PERSONAL SELLING, ADVERTISING, AND PUBLIC RELATIONS INCLUDE CONTESTS, COUPONS, FREEBIES, LOSS LEADERS, POINT OF PURCHASE DISPLAYS, PREMIUMS, PRIZES, PRODUCT SAMPLES, AND REBATES. THAT ARE USED TO STIMULATE PURCHASING AND SALES. THE OBJECTIVES ARE TO: INCREASE SALES INFORM POTENTIAL CUSTOMERS ABOUT NEW PRODUCTS CREATE A POSITIVE BUSINESS OR CORPORATE IMAGE POP display s contest

12 PUBLIC RELATIONS PUBLIC RELATIONS (PR) ACTIVITIES TRY TO CREATE A FAVORABLE IMAGE FOR A COMPANY, ITS PRODUCTS OR ITS POLICIES. THEY CAN ENABLE AN ORGANIZATION TO INFLUENCE A TARGET AUDIENCE. PUBLICITY IS THE MARKETING PIECE OF PR. DEFINED AS NON-PERSONAL STIMULATION OF DEMAND FOR A GOOD, SERVICE, PERSON, CAUSE OR ORGANIZATION THROUGH UNPAID PLACEMENT OF SIGNIFICANT NEWS ABOUT IT IN A PUBLISHED MEDIUM OR THROUGH A FAVORABLE PRESENTATION OF IT ON THE RADIO OR TV EMBRACE OREGON

13 THE CONCEPT OF PROMOTIONAL MIX A PROMOTIONAL MIX IS A COMBINATION OF STRATEGIES AND A COST- EFFECTIVE ALLOCATION OF RESOURCES A COMPANY USES TO REACH ITS PROMOTIONAL GOALS. THE STRATEGIES IN THE MIX ARE DESIGNED TO COMPLEMENT ONE ANOTHER: ADVERTISING AND DIRECT MARKETING CREATE PUBLIC AWARENESS. PUBLIC RELATIONS HELPS CULTIVATE A FAVORABLE IMAGE AND BRAND RECOGNITION. SALES PROMOTIONAL ACTIVITIES STIMULATE SALES AND REINFORCE ADVERTISING. PERSONAL SELLING BUILDS ON ALL OF THESE EFFORTS BY COMPLETING THE SALE.