marketing chapter 8

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elements of the promotional mix

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44 Terms

1

elements of the promotional mix

  1. advertising

  2. sales promotion

  3. personal selling

  4. public relations

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2

integrated marketing communications (IMC)

coordinating the various promotion-mix elements to provide consumers with a clear and consistent message about a firms products

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3

different types of advertising

  1. television advertising

  2. internet advertising

  3. print advertising

  4. radio advertising

  5. outdoor advertising

  6. nontraditional advertising

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4

tv advertising

adv

  • ability to combine sight, sound, and motion

  • demonstrate a product in use

  • narrowcasting

disadv

  • cost

  • rapid growth of DVRs

  • consumers abandoning traditional tv service

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5

product placement

advertising technique in which a company promotes its products through appearances on tv shows, movies, or other media

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6

internet advertising

adv

  • second largest global adv medium

  • paid search advertising

  • paid display advertising

  • direct marketing

disadv

  • banner and pop up ads

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7

print advertising

adv

  • newspapers effective for small businesses to advertise to local community

  • firms can run ads in specific audiences

  • magazines can target very specific audiences

  • magazines have longer shelf life

disadv

  • fewer Americans using newspapers as primary info source

  • newspaper ads compete with editorial content

  • magazines have long lead time

  • marketers can’t control ad placement in magazines

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8

radio advertising

adv

  • often most cost effective choice

  • allows market segmentation based on geography

disadv

  • audio only

  • digital presents in cars make it easier to switch away from ad

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9

outdoor advertising

adv

  • flexible

  • cost efficient

disadv

  • short exposure time

  • wasted coverage

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10

sales promotion

set of non personal communication tools designed to stimulate quicker or more frequent purchases of a product

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11

types of sales promotions

  1. coupons

  2. rebates

  3. samples

  4. contests and sweepstakes

  5. premiums

  6. loyalty programs

  7. trade sales promotions (trade shows, allowances, training)

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12

coupons

documents that entitle the customers who carry them to a discount

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13

rebates

customers to recoup a specified amount of money after making a single purchase, customers often fail to redeem them

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14

samples

Costco

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15

contests and sweepstakes

  • contests: sale promotions in which consumers compete against one another and must demonstrate skill to win

  • sweepstakes: sale promotions based on chance, only requirement is that you enter

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16

premium

promotional item that is given as an incentive for performing a particular act, typically buying a product

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17

loyalty programs

designed to strengthen customer relationships, allow consumers to accumulate points or other benefits for doing business with the same company

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18

trade shows

event at which organizations in a specific industry promote their offerings to firms they hope will buy them

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19

allowances

typically involve paying retailers for financial losses associated with consumer sales promotions or reimbursing a retailer for an in-store or local expense to promote a specific product

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20

personal selling

involves direction communication between the salesperson and the customer

  • expensive element of promotion mix

  • consistent message among salespeople

  • results in immediate feedback

  • importance of relationship selling (building trusting relationships with customers over a long period of time)

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21

public relations

non personal communication focused on promoting positive relations between a firms and its stakeholders

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22

public relations tools

  1. annual reports

  2. speeches

  3. blogs

  4. brochers

  5. media kits

  6. sponsorships

  7. event markting

  8. publicity

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23

annual reports

allows org to share with its stakeholders what its achieved over the past year

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24

speeches

provide an avenue for members of an org to market their message directly to a group in a longer form speech

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25

blogs

emerging social media tool where individuals can share thoughts and knowledge with the public

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26

brochures

intended to inform and/or engage the public

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27

media kits

a package of information provided to reporters and the general press

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28

sponsorships

organization paying to have its name associated w projects, programs, or facilities

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29

event marketing

developing a themed exhibit, display or presentation to promote an organization to its target market

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30

publicity

disseminating unpaid news items through some form of media to gain attention or support

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31

impact of social media on public relations

  • quick and cost effective way to provide engaging content about impact of a product or service

  • essential to monitor social media for negative feedback

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32

crisis management

marketers must communicate to stakeholders as quickly as possible

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33

measuring advertising effectiveness

  1. conduct a pretest before

  2. conduct a posttest after

    1. recognition test: showing consumers the print advertisement and asking if they recognize the ad.

    2. unaided recall test: require consumers to recall ads from memory, without any clues

    3. aided recall tests: respondents receive clues to help stimulate their memory

    4. reach: percentage of the target market that has been exposed to a promotional message at least once during a specific time period.

    5. frequency: measures how often the audience is exposed to a promotional message during a specific time period.

    6. revenue per ad dollar: calculated by comparing total revenue to the amount of money spent on advertising.

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34

recognition test

showing consumers the print advertisement and asking if they recognize the ad.

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unaided recall test

consumers recall ads from memory without any clues

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aided recall test

consumers receive clues to help stimulate their memory

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37

reach

percentage of the target market that has been exposed to a promotional message at least once during a specific time period

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38

frequency

measures how often the audience is exposed to a promotional message during a specific time period

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39

revenue per dollar

calculated by comparing total revenue to the amount of money spent on advertising

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40

measuring social media effectiveness

  • google analytics track user activity in real time

  • Kred measures both social influence and outreach, providing a score for each on a users profile

  • Buzzsumo is an excellent way to analyze and monitor Facebook pages

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41

Promotion-Mix Budgeting strategies

  1. affordable method: a top down approach common in small businesses

  2. percentage of sales method: one of the most widely used, disadvantage when firms sales decline

  3. objective and task method: considered the best, bottom up approach to promotional budgeting

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42

affordable method

top down approach common in small businesses

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43

percentage of sales method

one of the most widely used, disadvantage when firms sales decline

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44

objective and task method

considered the best, bottom up approach to promotional budgeting

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