Please enable JavaScript.
Coggle requires JavaScript to display documents.
PROMOTIONAL PLANNING FOR COMPETITIVE ADVANTAGE - Coggle Diagram
PROMOTIONAL PLANNING FOR COMPETITIVE ADVANTAGE
Promotion
¿What is it?
Communication by marketers that informs, persuades and reminds potential consumers of a product, influencing an opinion or eliciting a response.
Goals
Persuasive promotion
Encouraging brand switching and changing customers’ perceptions of product attributes.
Reminder promotion
Reminding consumers that the product may be needed in the near future and where to buy it.
Informative promotion
Increasing awareness of a new brand, product class, or product attribute, building a company image, explaining how the product works and suggesting new uses for it.
AIDA CONCEPT
Attention
Advertiser must gain the attention of the target market.
Model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message.
Interest
Create interest in the product
Desire
Convince potential customers it is the best solution to meet their desire and needs.
Action
Motivate them to take action, continue advertising.
Promotion in the Marketing mix
MARKETING MIX
Place
Promotion
PROMOTIONAL MIX
Public Relations
Helps an organization communicate with its customers, suppliers, government officials, employees, and the community in which it operates, maintaining image and educating consumers.
Sales promotion
Consists of marketing activities that stimulate consumer purchasing and dealer effectiveness. It includes free samples, contests, giveaways, and coupons.
Advertising
Impersonal paid communication in which the sponsor or company is identified. Ability to reach the masses.
Personal selling
A purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other, attempting to persuade the buyer to accept a point of view or take some action.
Depends on:
Target Market Characteristics
Consumers with similar characteristics, considered most likely to be the most profitable segments for the business to service.
Type of Buying Decision
Routine or complex.
Stages in the Product Life Cycle
The stage in the product life cycle, a big factor in designing a promotional mix. Can be preintroduction, introduction, maturity and decline.
Available Funds
Money, or the lack of it, may easily be the most important factor in determining the promotional mix.
Nature of the product
Characteristics of the product, either a business product or a consumer product.
Push and Pull Strategies
Pull Strategy
Stimulates consumer demand to obtain product distribution.
Push Strategy
Uses aggressive personal selling and trade advertising to convince a wholesaler or retailer to carry and sell merchandise.
Price
Product
Marketing communication
Marketing communications is a two-way process. Marketers are both senders, and receivers of messages.
COMMUNICATION PROCESS
Message Transmission
Transmission
of a message requires a channel. Transmission can be hindered by situational factors: physical surroundings, presence of other people or temporary moods consumers bring to the situation.
Receiver & Decoding
Reception occurs when the message is detected by the receiver.
Decoding
is the interpretation of language and symbols sent by the source through a channel.
Sender & Encoding
The Sender
is the originator of the message in the communication process.
Encoding
is the conversion of the sender’s ideas and thoughts into a message, usually in the form of words or signs.
Feedback
Feedback
is the receiver’s response to a message.