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the marketing mix: promotion and technology (aims (inform people about…
the marketing mix: promotion and technology
aims
inform people about particular issues
introduce new products on to the market
compete with competitors' products
create a brand image
increase sales
improve the company image
advertising
types
informative
persuasive
advertising process
Set objectives
Decide the advertising budget
create an advertising campaign
select the media to use
evaluate the effectiveness of the campaign
types of advertising media
television
radio
newspapers
magazines
poster/billboards
cinemas, DVD and blu-ray discs
leaflets
internet
other forms of publicity
product placement
sales promotion
(below the line advertising)
types
price reductions
gifts
BOGOF
competitions
point-of-sale displays and demonstrations
after-sales service
free samples
money-off coupons
advantages
could promote sales ar times in the year when sales are traditionally low (off-season purchases)
encourages new customers to try an exsisting product
encourages consumers to try a new product
encourages existing consumers to buy a product more often or in greater quantities
encourages customers to buy your product instead of competing brand
importance of marketing budget
specifies how much money is available to market the product
or range, so that the marketing department know how much money they may spend
cost effectiveness
which type of promotion should be used?
the stage of product life cycle that has been reached
the nature of the product itself
the cultural issues involved in international marketing
the nature of the target market
public relations/sponsorship
promoting good image for the company
e.g. sporting events, publicity stunts, donating some of their products for charity
how technology influences the marketing mix
a way that businesses can promote their products on the internet like social media
dynamic pricing could be used to raise revenue
e-commerce
benefits
(social networking site)
targets specific demographic group
guarantees target customers see advert when they go onto facebook
speed in response to market changes-information can be updated regularly
cheap to use-it has no costs if just placing advertisements
reaches groups that are difficult to reach any other way
disadvantages
can alienate customers if they find the adverts annoying
have to pay for advertising if using pop-ups
lack of control of advertising if used by others
may be altered or used in a bad way and forwarded on to other users giving the business bad publicity
if business advertises on its own website...
benefits
no extra cost if own website is already set up
control of advertising as it is on your own site
can change adverts quickly and update pictures
interactive adverts can make the adverts more attractive
can provide more information in adverts
disadvantages
potential customers may not see the websites as the page may come up in a long list of pages when using a search engine such as Google
relies on customers finding the website
design costs of the website may be high