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FM10421: Sales Promotion

FM10421: Sales Promotion. Week #1. Let’s see your registration sheets!. Psychology of Sales Promotion. Targeting and research is essential FIRST! Who are you selling to? What do they want? What do they care about? Who do they want to be? A.I.D.A Attention – get them to notice you

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FM10421: Sales Promotion

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  1. FM10421: Sales Promotion Week #1

  2. Let’s see your registration sheets!

  3. Psychology of Sales Promotion • Targeting and research is essential FIRST! • Who are you selling to? • What do they want? • What do they care about? • Who do they want to be? • A.I.D.A • Attention – get them to notice you • Interest – make them want to know more • Desire – now they want your product • Action – they actually purchase it!

  4. Broaden Your Market! • New Markets • Expand and Grow with your market • Urban Outfitters and Anthropology • Toys R Us • Expand Service • Amazon

  5. Problems in Retail and the Market • Change • Economy • What is immune? • What are some surprises? • Competition • Inflation • Technology • E.g. MP3

  6. Targeting is Key • Markets are less and less diversified • Must work to keep customers! • Why buy from you vs. your competition? • Offer an extra benefit • Social factors

  7. Advertising • Value of Advertising • A.I.D.A. • Reach? • Return? • Factors for placing ads • Population • Economy • Location

  8. Who is the Target? • Consumers • Retailers • Distributors • Competition

  9. Who is doing the Advertising? • Retailer • Manufacturer • Trade Associations

  10. PUSH Through vs. PULL Through • PUSH through method: • Manufacturer to Retailer to Consumer • Encourage Retailers to carry product • PULL through method: • Manufacturer to Consumer, demands from Retailer • Encourage Consumers to purchase • These days, need both

  11. Brand Development • The product is often secondary • Selling an image • Company values • Patagonia • Technology • Nike • Leadership • Intel Inside • Why is this necessary?

  12. Review First Half • “Sell the sizzle, not the steak” • Brand vs. product • Nike • Victoria’s Secret • IBM vs. Apple • Coke vs. Pepsi

  13. Image development and targeting are the keys to success!

  14. FM10421: Sales Promotion • Instructor: Max Minkoff • Teaching style: Interactive! • To contact me: max@planetminkoff.com • Other availability: Immediately after class • Website: www.planetminkoff.com/AIPh/SP/

  15. Course Content • Teaching Strategies • Interactive Class Discussion • PowerPoint w/printed notes • Textbook: • Fashion Sales Promotion: The Selling Behind The Selling by Pamela M. Phillips • Technology Needed: • Word Processing • Graphics

  16. Evaluation • 45%: Class Participation • Including attendance • Turn in assignments on time • 15%: Weekly Quizzes • 40%: Final Project

  17. Attendance Policy • Two absences = one full grade drop • A third absence = an additional grade drop • Four absences = Failure • NOTE: • There are NO excused absences. • Lates and/or early departures add up! I WILL FAIL YOU IF I HAVE TO!

  18. Cellphone Policy • OK if it rings • I don’t expect you to remember to turn it off • BUT! • Don’t answer your phone in class! • Don’t step into the hall to talk • Also • No text messaging

  19. How to do well in this class • I’m not here to test your memory! • Come to class • Don’t be late – they add up! • Participate • We all know about how products are sold • Think about promotion • Why are products sold the way they are?

  20. Class Objectives/Final Project • Product/Company Name, Description • Logo • Positioning statement • Target Profiles • Packaging objectives & design • Print advertising objectives, plan, and ads

  21. Brainstorming • Group method for generating options • Everyone suggests solutions to problem • Rules: • Postpone and withhold your judgment of ideas • Don't even groan, frown, or laugh • All ideas are equally valid at this point • Encourage wild and exaggerated ideas • Quantity counts at this stage, not quality • Build on the ideas put forward by others • Every person and every idea has equal worth

  22. Let’s Brainstorm! Possible transportation methods between 1622 Chestnut & 2300

  23. BRAINSTORMING SESSION • Product Needs/Ideas • Each group must submit (1 sheet of paper) • At least 5 neatly written ideas • Group members names

  24. HOMEWORK: • Read Chapter 1 (The selling game)

  25. Preview of Next Week • Quiz on Chapter 1 • Target Profiles • Image Development • Movie: “Wag the Dog” • Bring snacks!

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