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Theory on Marketing

Theory on Marketing. For Lesson 21. Promotion. http://www.thinkbox.tv/server/show/nav.1250

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Theory on Marketing

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  1. Theory on Marketing For Lesson 21

  2. Promotion

  3. http://www.thinkbox.tv/server/show/nav.1250 • TV asked a panel of 8000 viewers to vote for their favourite ads of the last ten years. From dancing eyebrows and talking meerkats, to a car made of cake and the world’s longest waterslide, these are some of the TV ads that made us smile, think and want more. Promotion

  4. Promotion is all about communication. ‘Promotion is how marketers communicate with their target markets that include existing customers and prospective customers’. • Promotional Mix is the process and variety of promotional methods used to communicate information about a product, service and product offering. • Reasons for promotion • ‘Promotion can build or destroy a brand, it can change attitudes, and it can influence the view that society as a whole has of the company and its products.’ Promotional Mix

  5. Advertising • Sales Promotion • Personal Selling • Direct Marketing • Public Relations • Sponsorship • Celebrity Endorsement Methods of Promotion

  6. Advertising is one of the most important parts of promotion. The purpose of advertising: • Inform people – make potential customers aware of your product and benefits • Persuade people to make a purchase – inform people about the benefits or sell at a lower price Advertising is made up of: • message – what you want to tell customers • medium – how you choose to advertise Advertising

  7. Most effective advertising methods

  8. “Sales Promotion is the process of encouraging customers to buy the products by offering an incentive” • Price promotion – discount on product e.g. 50p off, BOGOF, 25% extra free • Coupons – discount or free gift • Competitions – instant win offers in the package • Money refunds – cashback, e.g. mobile phones • Loyalty incentives – collect stamps for a free drink Sales Promotion

  9. Personal selling is where businesses use people (the “sales force”) to sell the product after meeting face-to-face with the customer. • Methods include: • Face to face – saleperson watches body language to adapt sales pitch • Telephone – listen to customers tone of voice to adapt sales pitch • Email- send attachments of deals to customer • Video or web conferencing – connect all over the world Personal Selling

  10. Public relation are activities a business does to put information into the media, but without paying for it • Exhibitions – present and display products to get people interested in buying • Sponsorship – pay to display brand at event (creates a positive image) • Press releases – statement sent to journalists to get them to write something interesting about your company Public Relations

  11. Business communicates directly with the customer • Direct Mail – letters posted to the customer giving information about new products • Mail order Catalogues – shows the different products in comfort of your own home Direct Marketing

  12. Watch this video: • http://www.bbc.co.uk/learningzone/clips/business-strategy-promotion/12270.html • http://www.bbc.co.uk/learningzone/clips/short-introduction-to-promotion-and-advertising/10959.html Video

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