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Promotion mix (Promotional tools/methods (Sales promotion (Sales promotion…
Promotion mix
Promotional tools/methods
Direct marketing
Firm engages with consumers without using secondary media. The main advantage of DM is that the company will more likely get a direct response from the consumer.
DM techniques
Direct mail (letters)
Telemarketing (calls)
Emails (Ryanair fly to Milan for 9.99)
Sms: text messages
Sponsorship
Firm will undertake to pay for the cost of an event and in return, the firm will get advertising
Sponsorship techniques
Event sponsorship (world cup, olympics)
Program (TV, Radio)
Person/people sponsorship
Stadium sponsorship
Sales promotion
Short-term incentives offered to consumer in order to:
Encourage them to buy the product
To encourage brand switching (coke, offer by pepsi)
Convince consumers to buy more
To level out fluctuations in demand (seasonal good) (people buy in larger amount ice cream in summer)
Sales promotion techniques
More for less (2 for 1)
Loyalty schemes
Samples
Coupons (vouchers)
Discounts
Meal (Deals)
Bundling (broadband, 1 years free with tv)
Money back options
Recommendations gifts or brings friends
Limited edition
Free insurance
Free servicing
Extras
Instalment payments
Competition (to win 50000 pounds)
Public relations
Creating and maintaining a positive brand image of the company in the minds of stakeholders (positive brand perception). Stakeholders perceptions of the company will enforce their behaviours toward the company
PR: move people from the negative perceptions to the positive, from dislike the brand to like the brand. PR: is especially important when the company is facing a crisis.
PR techniques
Carbon foot print (tesla, apple)
Asess conferences
Charitable (donation: pret, hult)
Aress releases
Celebrity endorsement
product launches (new)
media relations
Advertising
Any paid-for form of non-personal communication done through mass media by an identified sponsor
Reasons for advertising (AIDA)
Interest
Desire to own the product (celebrity endorsement)
Attention/awareness
Action, buying products
Personal selling
Firm sends out its employees to visit consumers offices and homes in order to generate business
Business to business marketing (boing doesn't advert, they sell it to the costumer directly)
Very effective in building trust (AVON: cosmetics products sold at home)
PS process
Pre-approach: gather information about the consumers, prepare your pitch and fix an appointment
Presentation and demonstration: Do your pitch by showing the product and explaining its features and benefits to consumers
Prospecting and qualifying: identifying potential buyers
Negotiation and overcoming objections: Negotiate on such issues as price, after sales services, delivery times, term and conditions)
Closing the sale: signing the contract and receipt of payments
Follow-up and relationship maintenance: Ensuring customer satisfaction and building on long-term relationships.
Advertising media
Outdoor: Billboards, posters
Mobile: buses, train, taxi
Print: Newspapers, magazines, leaflets
New: social media (fb)
Broadcast media: TV, Radio, Cinema
Factors to consider in choosing advertising media
Competitor
Media availability
Cost
Reach (how many people will see it)
Target media
Advertising ojbectives
The nature of the product
Ex: BMW: shows the features on TV
Role of promotion (DRIPE)
Inform (potential consumers)
Persuade (convince ppl to buy)
Remind, previous or existing consumers (for ppl that used the product before or still using it)
Engage (consumers in long-term relationships (starbucks)
Differentiate against competitors
Exchange of information between the organisation and its different stakeholder (consumer, suppliers, distributors, government, investors (profit statement), local, community, media)