CHAPTER 8 Flashcards
PROMOTION STRATEGIES MKTG 80 (22 cards)
__________________ refer to the techniques and tactics businesses use to increase awareness, interest, and sales of their products or services.
Promotion strategies
_________________ are an essential part of a marketing mix, aiming to influence consumer behavior, build brand loyalty, and drive revenue growth.
Promotion strategies
Paid promotion with a known sponsor that can get to many people at one time and can be done in many times.
ADVERTISING
Television and Radio Ads, Print Media (Newspapers, Magazines), Online Ads (Google Ads, Social Media Ads), Billboards and Outdoor Ads are some ways to promote products through ___________ advertising.
mass media - ADVERTISING
Short-term incentives or offers aimed at encouraging immediate sales or customer action.
SALES PROMOTIONS
SALES PROMOTIONS
ENUMERATION: 6
Discounts or Price Reductions (50% off)
Coupons and Vouchers (Save 50 on your next purchase)
Buy One, Get One Free (BOGO) deals
Contests and Sweepstakes (Win a free trip)
Free Samples (sampling food in a store)
Flash Sales (limited-time offers online)
Strategies to manage the brand’s reputation and create positive relationships with the public, media, and other stakeholders.
PUBLIC RELATIONS(PR)
announcing new products, partnerships, or events.
Example:
Press Releases announcing new products, partnerships, or events.
Event Sponsorship (sponsoring a charity event or sports team).
Media Coverage through news outlets or influencer collaborations.
Crisis Management to protect brand reputation.
Press Releases
_________________ (sponsoring a charity event or sports team).
Event Sponsorship
_____________________ through news outlets or influencer collaborations.
Media Coverage
_____________________ to protect brand reputation.
Crisis Management
Direct interaction between a sales representative and a potential buyer to persuade them to purchase a product or service.
Example:
Sales Presentations to showcase a product’s benefits.
Customer Meetings or Calls to answer questions and close sales.
Trade Shows or exhibitions where sales reps interact with potential customers.
PERSONAL SELLING
_____________________ to answer questions and close sales.
Customer Meetings or Calls
_____________________ where sales reps interact with potential customers.
Trade Shows or exhibitions
Using platforms like Facebook, Instagram, Twitter, or LinkedIn to engage with consumers, promote products, and build brand presence.
Example:
Organic Posts like photos, videos, and stories.
Paid Social Ads targeting specific demographics or behaviors.
Influencer Collaborations to leverage their audience.
Social Media Contests to encourage user participation.
SOCIAL MEDIA MARKETING
Creating and sharing valuable content that attracts and retains customers, often leading to conversion and loyalty.
Example:
Blogs providing expert insights or product information.
Videos showcasing product use or providing tutorials.
E-books offering in-depth guides or industry knowledge.
Podcasts discussing topics relevant to the brand’s target audience.
CONTENT MARKETING
Directly communicating with potential customers through non-personalized means to encourage immediate responses or sales.
Example:
Email Marketing (newsletters, special offers).
Telemarketing calls or SMS messages.
Direct Mail like brochures, catalogs, or postcards.
DIRECT MARKETING
Rewarding customers for repeat business or engagement, fostering long-term customer relationships.
Example:
Point Systems where customers earn points with every purchase
VIP or Membership Programs offering exclusive benefits.
Referral Programs rewarding customers for bringing in new customers.
LOYALTY PROGRAMS
Unconventional, low-cost marketing tactics that aim to surprise and engage customers in creative ways.
Example:
Flash Mobs or unexpected events in public spaces.
Street Art or graffiti advertising.
Viral Campaigns humor or shock value to spread quickly on social media.
GUERRILLA MARKETING
Partnering with influencers (individuals with large followings) to promote products or services.
Example:
Product Reviews or sponsored content shared by influencers.
Brand Ambassadorships where influencers promote a brand over a longer period.
INFLUENCER MARKETING
Using ____________________ to increase brand visibility and interact directly with potential customers.
Example:
Sponsoring Events like sports tournaments, festivals, or events.
Hosting Webinars or product launch events.
Trade Shows and Exhibitions where businesses showcase their products.
EVENT MARKETING AND SPONSORSHIP
Encouraging customers to share positive experiences with their network, often organically.
Example:
Referral Programs incentivizing customers to refer friends.
Online Reviews and Testimonials on websites or social media.
WORD OF MOUTH MARKETING (WOM)
