F11MKT300_AdvertisingI

F11MKT300_AdvertisingI - Promotional Tools + Advertising I...

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Promotional Tools + Advertising I Assessing the Different Promotional Tools Types of Advertising Media
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Assessing Promotional Tools Five questions to ask when evaluating various promotional tools 1. Is the message customizable ? 2. What is the payment structure ? 3. What are the strengths ? 4. What are the weaknesses ? 5. Can the promotional response be easily
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Personal Selling 1. Customizable 2. Commissions/Salary+ Incentive Pay (e.g., Bonus, Contests) 3. Can be very persuasive. Ability to present complex information 4. Cost per customer exposure is very high. Need to invest in training as messages can differ across salespeople. Limited reach.
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Direct Marketing (Mail, Phone, Email) 1. Customizable 2. Cost of buying customer list and contact information. Catalog+postage (mail), employing call-center reps (phone). 3. Messages can be prepared quickly. Messages & products can be easily targeted based on demographics. 4. Declining customer response: Junk mail
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Sales Promotions 1. Not easily customizable 2. Cost of advertising sales promotion (could be very low to high depending on intended reach and type of sales promotion) 3. Effective at stimulating purchase. Can be implemented quickly. 4. Easily copied. Risk of starting price war. If used too much, customers may buy only
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Public Relations 1. Not customizable 2. No direct payment (for media coverage). Cost of sponsorship (for
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F11MKT300_AdvertisingI - Promotional Tools + Advertising I...

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