Promotional Strategies Flashcards
Direct marketing definition
The total activities by which the seller directs efforts to a target audience using one or more media for the purpose of of soliciting a response by phone,mail or personal visit from a prospect or customer
Radio,direct selling, telemarketing,tv selling , direct mail, magazine and newspaper
Direct marketing can combine with
Internet Support media Advertising Public relations Personal selling Sales promotions
Features of direct marketing
- Advertising and selling combined
- Results are measurable and testable for effectiveness
- selective,assuming a suitable list or data base is available
- it can be personalised,thus building a relationship
- it is flexible,in both timing and objectives hence controllable
- complementary to other elements of the promotional and marketing mix, allowing a planned campaign
Promotional mix
Advertising Sales promotion Public relations Personal selling Direct marketing
Database marketing
Direct + information technology = database marketing (big data)
Information driven marketing process made possible by data base technology that enables marketers to develop,test,implement,measure and modify customised marketing programs and strategies
Allows marketers to
Identify key marketing segments
Optimise planning,pricing and promoting
Close deals satisfying both buyers and sellers
Customer relationship management
Database marketing+ relationship building = customer relationship management
Designed to build long term loyalty bonds with customers through the use of personal touch facilitated by tech
Metrics:
Lifetime value of customer(net present value of the profit that you will realise on a new customer during a given number of years )
Average purchase(£) x no of purchases (per year) x no of years
Regency,frequency, monetary value
Advertising plan
Objectives - what are we trying to achieve ? Increase sales or footfall, branding/ awareness
Audience- who are we targeting ? Core or new audience , B2B/B2C, audience by channel,interest group
Message - what do we want to say ?-quotes, advertising reality , design colour etc
Channels- where are you placing your ads and messages
Measurement- how are we going to measure if it’s worked ?
Brand v tactical advertising
Pure brand - emotion behind the brand no actual reason to buy (Guinness)
Tactical- features and benefits led
Channels for advertising
Digital Print Outdoor Point of scale Broadcast Events
Etc
Advertising v direct marketing
Advertising is designed to increase awareness
Direct is evaluated on the basis of sales results
Direct marketing supports the brand and advertising increases response rates
Personal selling definition
An interpersonal communication tool which involves face to face activities undertaken by individuals,often representing an organisation,in order to perform,persuade or remind an individual or group to take appropriate action as required by the sponsors representatives”
Explaining personal selling
Ora communication used to build a relationship with the buyer, however there will always be an effort to close the sale
Involves the use of a sales force to support a push strategy
Advantages of personal selling
Impact -a bit more inconvenient to get rid of, has ability to respond positively , make you feel good able to communicate effectively
Precision - at the point of the customers decision -easier to influence
Cultivation - sales force has the responsibility of developing and maintains the relationship
Disadvantages of personal selling
Cost -expensive to maintain good sale force
Limited reach
Negative connotation -associated with pushy type people cannot be trusted (salesman)
Managing -difficult to qualify behaviour
Consistency -possible conflict between management and sales force not effective in some places
Standard selling process
1) Prospect
2) research
3) approach
4) sales presentation
5) overcome objections
6) close the sale
7) follow up
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