20071017 Promotion

20071017 Promotion - 10/17/07 BUAD307 Promotion...

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10/17/07 BUAD307 Promotion COMMUNICATING benefits [what certain features do for a particular market segment] Definition – Communicating the benefits of the complete product to (your target audience) to produce a buying action Main promotion categories o Personal selling Face to face, one on one (or a few) promotion A lot of companies don’t think they have enough money to advertise, but they have someone selling Done through a channel o Advertising Impersonal communications that is typically paid (print, broadcast, outdoor, online) Don’t know when they will take action NOT RIGHT NOW o Direct Communications without face to face contact (direct mail, telemarketing, direct-response advertising, and internet) No face-to-face Go through a channel still Put up a message Tries to solicit immediate buying action RIGHT NOW o Sales promotion Incentives to buy or sell quicker (sales, rebates, discounts, coupons— average US redemption rate = 2.5% which means only 2.5% of coupons are turned in) Usually comes with expiration date Also works on supply push on distribution channels o One-on-many face-to-face Trade shows, seminars, speeches One guy in front of audience, makes a pitch to sell companies o Publicity and public relations Press releases, written articles, stunts, awards, testimonials, video clips and podcasts, blogs, etc Can be zero budget—if you know what you’re doing you can do it yourself Want to get things said about you Google gets a lot of publicity o Product placement Getting your product in a TV show, movie, video, game so that it makes a positive impression by association Put the product and get it used in movie, show, etc
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o Word-of-mouth Arming your “sales army” with information they can pass on to their
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20071017 Promotion - 10/17/07 BUAD307 Promotion...

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