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M8 promotional elements

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  • 1. 19-1Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall ELEMENTS OF THE PROMOTIONAL MIX Advertising Public Relations Personal Selling Sales Promotion
  • 2. 19-2Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Advertising  Paid, nonpersonal communication transmitted through out-of-store mass media by an identified sponsor  Key aspects  Paid form  Nonpersonal presentation  Out-of-store mass media  Identified sponsor
  • 3. 19-3Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Advertising Objectives for RetailersAdvertising Objectives for Retailers  Lift short-term sales  Increase customer traffic  Develop and/or reinforce a retail image  Inform customers about goods and services and/or company attributes  Ease the job for sales personnel  Develop demand for private brands
  • 4. 19-4Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Advertising CharacteristicsAdvertising Characteristics AdvantagesAdvantages  Attracts a large audience  Gains pass along readership (for print)  Low cost per contact  Many alternatives available  Control over message content; message can be standardized  Message study possible  Editorial content surrounds ad  Self-service operations possible DisadvantagesDisadvantages  Standardized messages lack flexibility  Some media require large investments  Geographic flexibility limited  Some media require long lead time  Some media have high throwaway rate  Some media limit the ability to provide detailed information
  • 5. 19-5Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Public Relations Public RelationsPublic Relations - Communication that fosters a favorable image for the retailer  Nonpersonal or personal  Paid or nonpaid  Sponsor-controlled or not PublicityPublicity – Nonpersonal form of public relations whereby messages are transmitted by mass media. The time or space provided by the media is not paid for, and there is no identified commercial sponsor
  • 6. 19-6Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Public Relations Objectives for RetailersPublic Relations Objectives for Retailers  Increase awareness of the retailer and its strategy mix  Maintain or improve the company image  Show the retailer as a contributor to the public’s quality of life  Demonstrate innovativeness  Present a favorable message in a highly believable manner  Minimize total promotion costs
  • 7. 19-7Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Public Relations CharacteristicsPublic Relations Characteristics AdvantagesAdvantages  Image can be presented or enhanced  More credible source  No costs for message’s time or space  Mass audience addressed  Carryover effects possible  People pay more attention than to clearly identified ads DisadvantagesDisadvantages  Some retailers do not believe in spending on image-related communication  Little control over publicity message  More suitable for short run  Costs for PR staff, planning activities and events
  • 8. 19-8Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Personal Selling Oral communication withOral communication with one or more prospectiveone or more prospective customers for the purposecustomers for the purpose of making a saleof making a sale
  • 9. 19-9Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Personal Selling Objectives for RetailersPersonal Selling Objectives for Retailers  Persuade customers to buy  Stimulate sales of impulse items or products related to customers’ basic purchases  Complete customer transactions  Feed information back to company decision makers  Provide proper levels of customer service  Improve and maintain customer satisfaction  Create awareness of items also marketed through the Web, mail, and telemarketing
  • 10. 19-10Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Personal Selling CharacteristicsPersonal Selling Characteristics AdvantagesAdvantages  Message can be adapted  Many ways to meet customer needs  High attention span  Less waste  Better response  Immediate feedback DisadvantagesDisadvantages  Limited number of customers at one time  High costs  Doesn’t get customer in store  Self-service discouraged  Negative attitudes toward salespeople
  • 11. 19-11Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Sales Promotion Encompasses the paidEncompasses the paid communication activitiescommunication activities other than advertising, publicother than advertising, public relations, and personal sellingrelations, and personal selling that stimulate consumerthat stimulate consumer purchases and dealerpurchases and dealer effectivenesseffectiveness
  • 12. 19-12Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Types of Sales PromotionsTypes of Sales Promotions  Displays  Contests  Sweepstakes  Coupons  Frequent shopper programs  Prizes  Samples  Demonstrations  Referral gifts  Other limited-time selling efforts
  • 13. 19-13Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Sales Promotions Objectives for RetailersSales Promotions Objectives for Retailers  Increasing short-term sales volume  Maintaining customer loyalty  Emphasizing novelty  Complementing other promotion tools
  • 14. 19-14Retail Mgt. 11e (c) 2010 Pearson Education, Inc. publishing as Prentice Hall Sales Promotion CharacteristicsSales Promotion Characteristics AdvantagesAdvantages  Eye-catching appeal  Distinctive themes  Added customer value  Draws customer traffic  Maintains loyalty  Increases impulse purchases  Fun for customers DisadvantagesDisadvantages  Difficult to terminate  Possible damage to retailer’s image  More stress on frivolous selling points  Short-term effects only  Used as a supplement

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