Chapter 8 - Promotion Mix Flashcards
What is Advertising?
Any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor.
What is Sales Promotion?
Short term incentives to encourage the purchase or sale of a product or service.
What are Public Relations?
Building good relations with the company’s various publics by obtaining favourable publicity, building up a good ‘corporate Image’ and handling off unfavourable rumours, stories & events.
What is Personal Selling?
Personal presentation by the firm’s sales force for the purpose of making sales & building customers relationships.
Mention the steps for developing effective communication?
Identifying Target Audience
Determining Company’s objectives
Designing a Message
Message Content
Message Structure
Message Format
Choosing Media
Personal Communication Channels
Non-personal Communication Channels
Selecting Message Source
Collecting Feedback
Explain Promotion Strategies.
- Push Strategy
Using the sales force and trade promotion to push the product through the channels - Pull Strategy
Spending a lot on advertising & customer promotion to build customer demand.
List the Advertising mediums and state their advantages & limitations.
- Print Medium : Newspaper, Magazine, Catalogue, Direct Mail, Brouchers, Handouts or Pamplets.
- Broadcast Medium: Television, Radio, Internet
- Other: Outdoor – Hoardings, Banners
- Newspaper
ADVANTAGES: Flexibility, Timeliness,
Local Market Coverage,
High acceptability, High belief
LIMITATIONS: Short Life, Poor quality, small pass along audience - Direct Mail
ADVANTAGES: High audience selectivity, Flexibility, No ad competition, Allows personalization.
LIMITATIONS: High cost per exposure, Junk mail image - Magazine
ADVANTAGES: High geographic & demographic selectivity, Credibility, High quality, long life, good pass along readers.
LIMITATIONS: Long ad purchase lead time, High cost, no guarantee of position - Television
ADVANTAGES: Good mass market coverage, Low cost per exposure, appealing to senses
LIMITATIONS: Expensive, Less audience selectivity - Radio
ADVANTAGES: Good local acceptance, High geographic and demographic selectivity, Low cost
LIMITATIONS: Audio only, Low attention, - Internet
ADVANTAGES: High selectivity, Low cost, Immediacy, interactive capabilities
LIMITATIONS: Relatively low impact, Audience control exposure - Internet
ADVANTAGES: High selectivity, Low cost, Immediacy, interactive capabilities
LIMITATIONS: Relatively low impact, Audience control exposure - Outdoor
ADVANTAGES: Flexibility, High repeat exposure, low cost, good position selection
LIMITATIONS: Low audience selectivity, Creative limitations
Name the types of Sales Promotion tools.
- Consumer Promotion Tools:
Samples, Coupon, Cash refund, Premium, price off, Advertising Specialty, Patronage award, Point of purchase promotion, Contests, lucky draw, games. - Trade Promotion Tools:
Discounts & Allowance - Business Promotion Tools:
Conventions, Trade shows, Sales Contest, Felicitation programs, Awards etc.
What are the functions of Public Relations?
Functions:
Press Relations
Product Publicity
Public Affairs
Lobbying
Investor Relation
Public Support ( Donor, volunteer, NGO support)
What are the tools of Public Relations?
Tools:
News
Speeches
Special Events (conference, tours, cultural shows, Parties, etc)
A V tools – (films, documentary)
Catalogue, Visiting cards, Souvenir,
Branding on trucks, office vehicles,
Uniforms etc
Who is a Sales Person?
Sales Person:
An individual acting for a company by performing one or more of the following activity:
Prospecting
Communicating
Servicing
Information
Gathering
Explain the process of Personal Selling?
Personal Selling Process:
- Prospecting &
Qualifying - Pre Approach
Approach - Presentation & Demonstration
- Handling Objections
- Closing
- Follow-up
