Marketing of Financial Products & Services-Marketing Mix - Promotion Strategy

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Marketing of
Financial
Products
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MoFP for
TKW’s
Lecture – 7
Parveen Sharma

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TKW’s
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Contents
 Promotion Strategy
 The Concept
 Importance of Promotion
 Components of Promotion
Advertising
Public Relation
Sales Promotion
Personal Selling & Telemarketing
Cause Related & Sponsorship
Web & Online
Word of Mouth
 Selecting Media
 Promotion & Image Building

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Promotion Strategy: The Concept
MoFP for
TKW’s
 Promotion is considered to be a device to communicate the
outstanding properties of different mixes to the customers with the
motto of influencing them.
 Promotion is a managerial process to inform, sense, sensitize,
persuade and transform the potential customers to actual and habitual
customers.

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Promotion Strategy: The Concept
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Aims of Promotion
 Persuasion
 Informing
 Reminding
 Reinforcing
Awareness Interest Desire Action

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Promotion Strategy: The Concept
MoFP for
TKW’s

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Promotion Strategy: The Concept
MoFP for
TKW’s

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MoFP for
TKW’s
Components of
Promotion
Advertising
Public
Relation
Sales
Promotion
Personnel
Selling
Tele-
marketing
Web/online
marketing
Cause
Related &
Sponsorship
Word of
Mouth
Components of Promotion
Sales Promotion is a part of Promotion

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MoFP for
TKW’s
Components of Promotion
Advertising

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Advertising Process
MoFP for
TKW’s
 Setting the Objective
 Finalizing Advertising Budget
 Creating Campaign
 Selecting Media
 Evaluating Campaign
Pre-testing & Post-testing advertisement
Components of Promotion

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MoFP for
TKW’s
Components of Promotion
Public Relation

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MoFP for
TKW’s
PR & Its Dimensions
 Press Meets
 Speeches
 Seminars
 Annual Reports
 Donations
 Sponsorships
 Lobbying
 Identity Media
Components of Promotion

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MoFP for
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Components of Promotion
Sales Promotion

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Importance of Sales Promotion
MoFP for
TKW’s
 Encouraging to try out new scheme
 Enticing customer for existing scheme
 Providing customer a reason for buying
 Encouraging frequent purchases
 Counteracting downward trend in demand
 Increase business
 Fighting competition
Components of Promotion

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MoFP for
TKW’s
Components of Promotion
Personal Selling & Telemarketing

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MoFP for
TKW’s
Web & Online
Components of Promotion

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MoFP for
TKW’s
Reliance Mutual Fund : Quotivation
ICICI Prudential : Financial Friday
Components of Promotion

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MoFP for
TKW’s
Cause Related & Sponsorship
Components of Promotion

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MoFP for
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Cause Related & Sponsorship
Also visit:
https://www.youtube.com/watch?v=jWpWtC
eIvUA
Components of Promotion

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MoFP for
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Word of Mouth
Building a volunteer marketing force
 'seeding' a message in a network,
 rewarding regular consumers to engage in WOM,
 employing WOM 'agents‘
 Creating buzz
Components of Promotion
Increasing numbers of consumers
are turning to friends and family
as their primary source of trusted
information on buying financial
products.

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20 MoFP for
TKW’s
Selecting Media
An Optical Mix
 Coverage
 Frequency
 Cost effectiveness
 Type of Products
 Type of Massage
 Budget Constraints
vs

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Promotion & Image Building
MoFP for
TKW’s
Max Life Insurance
advertisement campaign
“ Aapke Sache Advisors”.
ICICI Lombard’s “Vaade
Vahi Jo Nibhaye Jaye”.

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MoFP for
TKW’s
Promotion & Image Building

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? ueriesQ
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Contact me @ +91-9050050288
or
Email to parveen_72@yahoo.in

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Thank
You
MoFP for
TKW’s
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