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C12: MARKETING MIX : PROMOTION & TECHNOLOGY - Coggle Diagram
C12: MARKETING MIX :
PROMOTION & TECHNOLOGY
AIMS OF PROMOTION
COMPETE WITH COMPETITOR'S PRODUCT
IMPROVE COMPANY IMAGE
INTRODUCE NEW PRODUCTS TO MARKET
ATTRACT CUSTOMER / INCREASE SALES
PROMOTIONAL METHODS
SALES PROMOTION
EXAMPLES
MONEY-OFF COUPONS / BOGOF
ABLE TO AFFORD BECAUSE CHEAPER
LOYALTY CARD
RETURN TO BUY
FREE SAMPLES
TO TRY
ADVERTISING (ATTRACT CUSTOMER)
INFORMATIVE ADVERTISING
PROVIDES INFO TO POTENTIAL CUSTOMER
PERSUASIVE ADVERTISING
CONVINCE CUSTOMER THAT THEY NEED THE PRODUCT & THAT IT'S BETTER THAN COMPETITOR'S PRODUCT
EXAMPLES
NEWSPAPERS
DISADVANTAGE
WHICH PEOPLE READ NEWSPAPERS
(ADVERTISE IN WIDE RANGE - EXPENSIVE)
LIMITED VISUAL IMPACT
DIFFICULT TO STAND OUT
OTHERS
SPONSORSHIP
INCREASE REPUTATION / BRAND IMAGE
PERSONAL SELLING
ENABLES SELLER TO BUILD RELATIONSHIP (FOR EXPENSIVE ITEMS)
DIRECT MAIL
GOOD WAY OF COMMUNICATING WITH LARGE MARKET OVER WIDE GEOGRAPHICAL AREA
WHICH ONE?
PURPOSE ?
BUDGET / COST
WHO IS THE TARGET MARKET?
SHOULD ATTRACT RIGHT CUSTOMERS
STAGE IN PRODUCT LIFE CYCLE
NEED FOR COST - EFFECTIVENESS IN SPENDING MARKETING BUDGET ON PROMOTION
WHAT IS IT FOR?
MARKETING BUDGET FOR MARKET RESEARCH, CHANGING PRODUCT / PACKAGING, ADVERTISING
HOW TO CHECK?
SEE IF BUSINESS HAS REACHED MARKETING OBJECTIVES