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CHAPTER 16 Terms

Understanding Business

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CHAPTER 16 - Using Effective Promotional Techniques Promotion an effort by marketers to inform and remind people in the target market about products and to persuade them to participate in an exchange Promotion Mix the combination of promotional tools an organization uses: Type of product Stage in the product life cycle Target market distinction Action of competition Available funds (advertising and funding are usually cut in companies w/ low $$) IMC Integrated Marketing Communication a technique that combines all the promotional tools into one comprehensive, unified promotional strategy Establishing a promotional campaign: 1. Identify a target market 2. Define clear and measurable objectives for each element of the promotion mix 3. Determine a promotional budget 4. Develop a unifying message - one clear message communicated by advertising, public relations, sales and every other promotional effort 5. Implement the plan - schedule advertisements to compliment efforts by public relations and sales people promotion 6. Evaluate effectiveness - measure results of each element of the promotional mix - what is working and what is not Advertising paid, non-personal communication through various media by organizations and individuals who are in some way identified in the advertising message Propoganda is non-personal communication that does not have an identified sponsor, often distributed by the government in various countries Different kinds of advertising: Retail Advertising - to consumers by retail stores Trade Advertising - to wholesalers and retailer by manufactures B2B advertising - from manufacturers to other manufacturers
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