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Promoting Products Ch:3 for MBA
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Promoting Products Ch:3 for MBA

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Promoting Products …

Promoting Products

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  • 1. Promoting Products
  • 2. What Is Promotion? Aspect of the marketing mix concerned with the most effective techniques for selling a product
  • 3. Information and Exchange Values
    • Promotions seek to accomplish four goals:
      • Make potential customers aware of products
      • Make them knowledgeable about products
      • Persuade them to like products
      • Persuade them to purchase products
  • 4. Promotional Objectives
    • Communicating Information
    • Positioning Products
      • Positioning is the process of establishing an identifiable brand image in the minds of consumers
    • Adding Value
    • Increasing Sales Volume
  • 5. Promotional Strategies
    • Pull strategy appeals directly to consumers who will demand the product form retailers
    • Push strategy encourages wholesalers or retailers to market products to consumers
  • 6. The Promotional Mix
    • Types of promotional tools:
      • Advertising
      • Personal Selling
      • Sales Promotions
      • Publicity
      • Public Relations
      • Word of Mouth
  • 7. What Is Advertising? Promotional tool consisting of paid, nonpersonal communication used by an identified sponsor to inform an audience about a product
  • 8. Advertising Strategies
    • Persuasive advertising seeks to influence consumers to buy a company’s products rather than its rivals’
    • Comparative advertising indirectly compares two or more products
    • Competitive advertising directly compares two or more products
    • Reminder advertising helps to keep the product name in the consumer’s mind
  • 9. Advertising Strategies
    • Generic (Primary) Demand Advertising promotes a generic product category rather than a particular brand
    • Selective (Secondary) Demand Advertising promotes selective brands
    • Product Advertising promotes a product or a group of products
    • Institutional Advertising promotes an organization rather than a specific product
  • 10. What Is Advertising Media? Variety of communication devices for carrying a seller’s message to potential customers
  • 11. Advertising Media
      • Television
      • Newspapers
      • Direct Mail
      • Radio
      • Magazines
      • Outdoor Advertising
      • Internet Advertising
  • 12. What Is an Advertising Campaign? Arrangement of ads in selected media to reach targeted audiences
  • 13. What Is an Advertising Agency? Independent company that provides some or all of a client firm’s advertising needs
  • 14. What Is Personal Selling? Promotional tool in which a salesperson communicates one-on-one with potential customers
  • 15. What Is Telemarketing? Use of telephone solicitations to conduct the personal selling process
  • 16. Personal Selling Situations
    • Retail selling is selling a consumer product for the buyer’s personal or household use
    • Industrial selling is selling products to other businesses, either for the purpose of manufacturing other products or for resale
  • 17. Types of Personal Sellers
    • Inside Order Taker
    • Outside Order Taker
    • Delivery Sales Person
    • Inside Seller
    • Outside Seller
    • Sales Engineer
    • Sales Consultant
  • 18. What Is a Sales Promotion? Short-term promotional activity designed to stimulate consumer buying or cooperation from distributors, sales agents or other members of the trade
  • 19. Types of Sales Promotions
    • Coupons are certificates entitling bearers to savings off regular prices
    • Point-of-Purchase (POP) displays are used to grab customers’ attention as they move through stores
    • Premiums are gifts given to consumers in return for buying a specified product
    • Trade shows are sponsored by industries for members and customers
    • Discount is a temporary price reduction
    • Patronage rewards are given on sustained usage of a product
  • 20. What Is Publicity? Promotional tool in which information about a company or product is transmitted by general mass media Publicity is free Publicity can be good or bad
  • 21. What Is Public Relations? Company-influenced publicity directed at building goodwill with the public or dealing with unfavorable events
  • 22. Word of Mouth
    • Any communication about an organization, its products, or policies thru the personal interaction of people in a society.

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