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Promotional Concepts & Strategies

Promotional Concepts & Strategies. Answer the following three questions: What unique promotional activities have you observed recently? Identify at least three! How do promotional activities influence your purchases? In your opinion, what is the most effective form of promotion? Why?.

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Promotional Concepts & Strategies

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  1. Promotional Concepts & Strategies Answer the following three questions: • What unique promotional activities have you observed recently? • Identify at least three! • How do promotional activities influence your purchases? • In your opinion, what is the most effective form of promotion? Why?

  2. Promotion in Marketing • Promotion is any activity that helps in the exposure or sale of a product • Examples? • The goals of promotional activities are AIDA Attention – first attract attention Interest – then build interest Desire – then build desire Action – ask for action!

  3. Promotion in Marketing • Product promotion is a promotional method used by businesses to convince prospects to select their goods/services instead of a competitor’s brands • Promotional activities attempt to: • Explain major features and benefits of the product • Identify where it is sold • Advertise sales • Answer customer questions • Introduce new offerings • Foster good relations with existing customers

  4. Promotion in Marketing • Institutional promotion is a promotional method used to create a favorable image for a business, help it advocate for change, or take a stand on trade or community issues • Institutional promotion includes: • Company websites • Activities to build goodwill or enhance reputation • Foster a favorable image for the company

  5. Promotional Mix • Promotional mix is the combination of personal selling, advertising, direct marketing, sales promotion, and public relations strategies to reach company goals

  6. Promotional Mix • Personal Selling • Requires sales representatives to generate and maintain direct contact with prospects and customers • Direct contact can include: • Personal meetings • In-home demonstrations • E-mail • Telephone conversations • Is one of the most expensive forms of promotion

  7. Promotional Mix • Advertising • A form of non personal promotion in which companies pay to promote ideas, goods, and services • Where is advertising found? • Everywhere! • Billboards • Business cards • Brochures • Internet • Magazines • Newspapers • Phone directories • Grocery store receipts • Radio • Television • Sports arenas • Cars and buses • Restaurant menus • Websites

  8. Promotional Mix • Direct Marketing • A type of promotion that companies use to address individuals directly and not through a third party medium (TV, radio, internet) • Examples or direct marketing include: • Direct mail • Telemarketing • E-marketing • The goals of direct marketing are to generate sales or leads for sales representatives to pursue

  9. Promotional Mix • Sales Promotion • Represents all marketing activities—other than personal selling, advertising and public relations—that are directed at business or retail customers to boost sales • Sales promotions include: • Coupons • Money-off promotions • Competitions • Product samples • Point-of-purchase displays • The objectives of sales promotions are to increase sales, inform potential customers about new products, and create a positive business or corporate image

  10. Promotional Mix • Public Relations • PR activities help an organization to influence a target audience • PR campaigns try to influence general opinion and create a favorable public image • Examples? • Publicity involves bringing positive news or newsworthy information about an organization to the public’s attention • Advantages/Disadvantages?

  11. OEHS Image Activity • In a small group (no more than 3 per group): • Step 1: Brainstorm and discuss ideas for creating a better institutional image for OEHS • Step 2: Create a public relations campaign centered around one (or more) of the items generated • You may want to consider or include • A news release (see page 398 for an example) • The use of social media • Types of publicity or placement • All materials created, including brainstorm list, should be submitted for assessment

  12. Developing a Promotional Mix • Figure 17.2 • Page 400 Develop aPromotional Mix

  13. Types of Promotion Activity Team Activity (5 members per team) • Create a business that sells products to high school students • Assign each member to one of the types of promotion • Each member should develop ideas for a promotional mix • Report your “plan” using a post-it note Note: Be sure to identify your business and product!

  14. The Push-Pull Concept • Push Policy is a type of promotion in which manufacturers use a mix of advertising, personal selling, and trade discounts with partners in the distribution channel to “push” the product through to the retailer • Pull Policy a type of promotion by manufacturers that directs promotional activities toward consumers • Examples are advertising, in-store displays, demonstrations, etc.

  15. Sales Promotion • Sales promotions are incentives that encourage customers to buy products or services • Build brand awareness • Encourage customers to try a new product • Increase purchases by current customers • Reward customer loyalty • Include trade and consumer promotions

  16. Trade Promotions • Trade promotions are sales promotions designed to get support for a product from manufactures, wholesalers, and retailers • Major trade promotions include: • Promotional allowance • Cooperative advertising • Slotting allowances • Sales force promotions • Trade shows and conventions

  17. Consumer Promotions • Consumer Promotions are sales strategies that encourage customers and prospects to buy a product or service • Examples?

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