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Unit 2 Business Management

Unit 2 Business Management. Area of Study: Managing the marketing function. Goal. To be able to explain why promotion is a key aspect of the marketing function. Accessing prior knowledge. What is the best advertisement you have ever seen? Why was it so powerful?

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Unit 2 Business Management

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  1. Unit 2 Business Management Area of Study: Managing the marketing function

  2. Goal • To be able to explain why promotion is a key aspect of the marketing function.

  3. Accessing prior knowledge • What is the best advertisement you have ever seen? • Why was it so powerful? • Did it make you buy the product?

  4. Three key promotional activities businesses use to attract customers • Advertising • Direct marketing • Sales promotion

  5. Advertising

  6. The AIDA model is used to plan and design promotional activities • Getting Attention • Holding Interest • Arousing Desire • Getting Action

  7. Advertising • Advertising is paid, non-personal communication about products and services. Two categories of advertising: 1. Product advertisements • Attempts to persuade the consumer to purchase a product or service 2. Corporate advertisements • A corporation or organisation promotes itself and attempts to enhance its public image

  8. The advertising campaign These are seven steps in developing an effective advertising campaign. • Identify the target group • Develop marketing objectives • Calculate the budget • Decide on the key message • Decide on the advertising medium • Create the advertisement • Evaluate the advertising campaign

  9. How much does advertising cost?

  10. Step 1: Identify the target group • Be specific about the potential buyer • Details such as: Age, gender, nationality, social class, marital status, occupation and income • Most effective advertisements target smaller audiences

  11. Step 2: Develop marketing objectives • The marketing objectives need to tie in with the overall business objectives, be specific and include a timeframe • Expressed in a way that results will be measurable.

  12. Step 3: Calculate the budget • Advertising can be expensive • The budget can be used to determine the success of an advertising campaign.

  13. Step 4: Decide on the key message • Advertising messages can persuade, inform, remind, instruct and entertain. • The key message for an advertisement should be stated clearly in one sentence.

  14. Step 5: Decide on the advertising medium Advertising may take place via: • the internet and pop-ups • television • daily newspapers • magazines and journals • posters • email • radio • local papers • mail-outs and leaflets • brochures

  15. Step 6: Create the advertisement • Mojo’sprinciples for creating good advertisements • Get back to basics • Keep It Simple Stupid • Get it noticed • Appeal to the heart • Make it friendly and human • Make it sympathetic to the medium • Make it vernacular • Give it a long life • Repeat

  16. Step 7: Evaluate the advertising campaign • There is often a lot of planning and development before the public sees any new ad. • Some companies pre-test the advertising to see if it communicates the right message to the target audience. • A pre-test can involve group discussion with potential customers, questionnaires before and after exposure and in-depth interviews.

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