3 Flashcards
(41 cards)
promotional mix
blend of promotional tools
advertising
value more visible
personal selling
traditional forms
sales promotion
various benefits of incentives
examples of sales promotion
- buy one get one
- free discounts
- coupons
- games and contests others
public relation
creating relations
Example: customer, distributors, suppliers, employees
- can be proactive and reactive
direct marketing
directly reaches their customers
ex: emails, text messages, fax
communication mix
communicate with customers
ex: public concepts, sales concepts
The element of communication are:
settings, advertising, personal selling, sales promotion public relation, direct internet marketing, packaging
The elements of communications settings are:
advertising, personal selling, sales promotion, public relations, direct marketing/internet marketing, and packaging.
- How will the customers know that we have value-added products?
Examples: Price, quality, and what the product or service can do for that specific person are some examples. Consumers weigh monetary, time, energy, and emotional expenditures when determining the worth of a product.
Marketing communication plans is combines multiple forms of communication channels into the mix.
Marketing communication plans
Combine multiple forms of communication
ATL advertising and BTL advertising
two popular types of advertising.
EXAMPLE OF ADVERTISING
ONE EXAMPLE OF ADVERTISING IS TV ADVERTISING
personal selling
Second most common method to communicate to customers
small business
Persuasive impact
Provides detailed explanation on the product
EXAMPLE OF PERSONAL SELLING
FOUND IN THE DEPARTMENT STORES
sales promotion
providing the consumer with an incentive
PUBLIC RELATION
Art of disseminating information
Stimulate awareness
EXAMPLE OF PUBLIC RELATIONS
NEWS RELATED TO A MOVIE WHICH IS PUBLISHED SOME TIMES IN THE NEWSPAPERS
In digital marketing,
multiple media channels are combined
PACKAGING
last point of sales of the company.
element of communication mix.
6 media vehicles are the ones which are considered as the communications mix.
market segmentation
breaking down or building up potential buyers
benefits of market segmentation
Identifies opportunities for new product development .
Helps design marketing programs most effective for reaching homogenous groups of buyers.
Improves allocation of marketing resources.
Segmentation characteristics
- identifiable
can be located and identified - cohesive
specific qualities are common - measurable
estimate the size and potential spending - accesible
be accessed by Marketing efforts and promotional activities - substantial
large - actionable
the company has enough resources
What is target market?
specific group of people
STRATEGIES FOR TARGET MARKET
- Mass marketing or Undifferentiated marketing
business or organization ignores the segmentation
- Concentrated Marketing or Niche Marketing
organization focuses on meeting
- Segmented marketing or Differentiated marketing
targeting several target markets
- Micromarketing or Hyper-target Marketing
highly focuses on providing products and services
WHY TARGET MARKETING IS IMPORTANT?
It narrows the marketing scope
Identify the right people and their needs and wants
More effective strategies
Improve products and services
product definition
“product” stems from the verb “produce”, from the Latin produce ❝(to) lead or bring forth.
tangible or intangible product
called “merchandise”
anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas”
