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Retail Communication Mix 2 - Coggle Diagram
Retail Communication Mix 2
Advantages of Advertising
To Manufacturer
:
Increases sales volume.
Increases net profits.
Controls product price.
Helps in opening new markets.
Maintains existing market.
To Salesman
:
Curtails job burden.
Requires least efforts.
To Wholesalers and Retailers
:
Creates steady sales.
Increases turnover.
Attracts more customers.
Advantages of Advertising to Customers
Easy purchasing.
Saves time.
Facilitates choosing the best quality product.
Educates the customers.
Disadvantages of Advertising
Less persuasive.
High level of wastage.
Not targeted well.
Difficult to evaluate.
Little interactive.
Costly.
Classification of Advertising
According to Geographical Spread
:
National Advertising.
Local Advertising.
Global Advertising.
According to Target Group
:
Consumer Advertising.
Industrial Advertising.
Trade Advertising.
Professional Advertising.
Types of Advertisement
Consumer-oriented or Persuasive Advertisement.
Informative Advertising.
Institutional or Corporate Advertising.
Financial Advertising.
Classified Advertising.
Sales Promotion
Diverse collection of incentive tools, mostly short-term, designed to stimulate quicker or greater purchase.
Characteristics
short term in nature
only objective is to promote sales quickly
done with channel partners & customers
Nature of Sales Promotion
Encompasses all promotional activities and materials other than personal selling, advertising, and publicity. Has grown dramatically due to a short-term focus on profits.