Elements of P.M.
• Advertising
less personal - mass medium (TV, Radio)
:+1:::: Many media choices, efficiently reach large population
:-1::: May reach many outside the target, high production cost, less impact
• Sales Promotion
Provides incentives - designed to augment other forms of promotion
:+1:: stimulates purchase, effective accompaniment
:-1:: customers may wait for next promo, brand may be impacted by price-cutting image*
• PR
executed through publicity - unpaid and relatively less personal (news stories, public events)
:+1:: unpaid comm. seen as more credible
:-1:: low control of the message contents, highly labour intensive cost
• Personal selling
One-to-one communication - in person/ two-way dialogue (phone, sms, e-mail)
:+1:: Strong two-way comm. of ideas, ease customers' confusions and persuades purchase
:-1:: May go "off msg" from brand to secure the sales, expensive cost per customer
• Direct Marketing
Interactive system that uses 1≤ advertising media - personal communication other than a salesperson (receive materials in the mail, could include targeted e-mails)
:+1:: customizable messages w/o high cost of personal selling, strong relationship building
:-1:: Spam and other unwanted, correspondence if poorly executed, reliance on CRM and database marketing requires constant updating
• Interactive Marketing
Internet-driven relationship between companies, brands and customers - customers can control information flow - higher level of customer service - e.g.: company's website, mobile devices
:+1: and :-1:: similar to direct marketing's
