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Consider the audienCe Implementation of the Pull Strategies are push or pull strategies directed towards customers to increase their will depend on the interest and demand for identified target market products. Customers will Push strategies – used by “pull” or convince retailers a manufacturer to convince to carry the products. or “push” retailers to carry Relies heavily on and promote products in advertising. their retail establishments. Relies heavily on personal selling and sales promotion
Consider the audienCe (Continued) Primary target markets Audience includes: are the core group of Influencers. Example: A teenage consumers on which daughter who wants a ticket to a promotional efforts are concert. focused. Decision-makers. Example: The parent that will be deciding on whether Secondary target the purchase of the ticket will occur. markets are consumers Followers. Example: The friend who who occasionally will accompany the daughter to the purchase the product concert. because of one Purchasers. Example: The parent identifying factor. who will pay for the ticket.
IdentIfy objectIves Inform consumers of the product Persuade the consumers to purchase the product Remind the consumers of the availability and benefits of the purchase
dIscuss the promotIonal mIx Should be Product life cycles Consumer segmentation interdependent and Current market utilize several characteristics promotional tools Consumer decision-making process Marketers should consider the Needs to be following when reviewed to ensure selecting companies are promotional tools: reaching their intended audience
methods of desIgnIng thepromotIonal budget Budget allotments Imitation of Determine current competitors budget as a stand- Budget is set up to alone budget, aside mimic competitors from the entire organization’s budget Budget from previous year and future issues are not taken into consideration
Methods of designing theproMotional budget (continued) Proportion of Activity-based cost revenue method Allocation of budget Set objectives, based on percentage determine the costs figures and work within them
develop a Media strategy Media is selected based on target market Advertisers must look for creative ways to reach their audience and uniquely position their product due to advertising clutter Venue advertising has increased as changes in technology allow for frequent changes to signage and sponsors
develop a Media strategy(continued) Product demonstrations and on-site displays are growing in popularity Usually set up as pre-event entertainment Internet offers new and innovative ways to promote products Hospitality
Develop a MeDia Strategy(continueD) Product demonstrations and on-site displays are growing in popularity Usually set up as pre-event entertainment Internet offers new and innovative ways to promote products Hospitality