Session 19 Flashcards
(28 cards)
What is promotion?
Communicating product and service information to
target customers and other stakeholders of the firm.
What is promotional mix?
The mix of different kinds of promotion
elements (e.g., advertising, personal selling, public relations,
sales promotion, direct marketing) used to meet marketing goals
What is advertising? (+ types)
One-way non-personal communication about a product or organization that is paid by the organization (e.g., TV, print, outdoor, in-store, digital)
What are advantages of advertising? (2)
- Reaches large audience
- Control over messaging
What are disadvantages of advertising? (3)
- costs can be high (e.g., production
costs for TV commercial) - small immediate effect on sales
- lack of direct feedback
What is personal selling?
Two-way flow of communication between buyer and seller, designed to influence the buyer’s purchase intentions
What are advantages of personal selling? (3)
- provide detailed and customized information
- get immediate feedback and can modify the message
- Build relationships with customers
What are disadvantages of personal selling? (3)
- not effective in reaching large numbers of people
- expensive on per contact basis
- potential inconsistency in message
What are public relations (+ 4 types)?
Creating a positive image for an organization or product/service via publicity (e.g., press releases, sponsorship, events, crisis management)
What are advantages of public relations? (2)
- seen as trustworthy
- reach mass audience
What are disadvantages of public relations? (1)
- limited control over the public messaging
What are sales promotions?
A short-term inducement of value offered to arouse interest in buying a good or service
What are advantages of sales promotion? (3)
- effective in short-term sales increase
- boost store or website traffic
- easier to track
What are disadvantages of sales promotion? (2)
- sales drop off when deals end
- can harm brand image
What are 7 types of sales promotion?
- Sample
- Coupons (provide immediate price reduction)
- Point-of-purchase displays (encourages to buy immediately)
- Premiums (something get after purchase for free or if cover handling)
- Contests (enter to win a prize)
- Loyalty programs (reward frequent purchase)
- Rebates (part of purchase price refunded after completes form and gives proof of purchase)
What is direct marketing? (+ give 4 examples)
Any form of direct communication with the consumer designed to drive sales or interest (e.g., catalogs, email, telephone, brand social media pages)
What are advantages of direct marketing (4)?
- Customization, quick modification (e.g., online, social media)
- Cheaper than personal selling and advertising
- Interpersonal communication
- Easier to track and measure
What are disadvantages of direct marketing (2)?
- Declining consumer response
- Data management can be expensive
Steps of promotional campaign with explanations (5)?
*** not sure steps of what
- Objective (What do we want to achieve)
- Target (who should we talk to)
- Message (what should we say) + Media (What channels do we use)—> closely related to STP
- Budget (How much should we spend)
- Evaluation (did our campaign work)
According to what do objective and target market of promotional strategy differ? (3)
- Stage of the Product Life Cycle
- Stage of the Consumer Decision Process
- Are you using a “push” or a “pull” strategy?
What are 4 promotional objectives and to what stages of product life cycle are they associated to? Give important promotional tools
- Inform (Introduction): PR, ads, free samples
- To persuade (Growth): ads, personal selling
- To remind (Maturity): Discounts, coupons, direct marketing
- To phase out (Decline)
What are we trying to influence with promotions?(4)
- Attention
- Interest
- Desire
- Action
Best promotional strategies to gain awareness? (2)
Mass media:
1. Advertising
2. Public relations
Best promotional strategies to encourage action? (2)
- Personnal selling
- Sales Promotions
