ch13+PPP - Chapter 13 Promotion and Pricing Strategies...

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Promotion and Pricing Strategies Chapter 13
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Discuss how integrated marketing  communications relates to a firm’s overall  promotional strategy and explain the  concept of a promotional mix along with  outlining the objectives of promotion. Summarize the different types of  advertising and advertising media. Outline the roles of sales promotion,  personal selling, and public relations in a  promotional strategy. Describe pushing and pulling promotional  strategies. 1 Learning Objectives Outline the different types of pricing  objectives. Discuss how firms set prices in the  marketplace, and describe the four  alternative pricing strategies. Discuss consumer perceptions of  price. 2 3 4 5 6 7
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Promotion  is the function of informing,  persuading, and influencing a purchase  decision. Integrated marketing communications (IMC)  is the coordination of all promotional activities— media advertising, direct mail, personal selling,  sales promotion, and public relations—to  produce a unified, customer-focused message. Promotion
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Must take a broad view and plan for all form  of customer contact. Create unified personality and message for  the good, service, or brand. Elements include personal selling,  advertising, sales promotion, publicity, and  public relations. Integrated Marketing Communications
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Promotional mix - combination of personal and  nonpersonal selling components designed to  meet the needs of their firm’s target customers  and effectively and efficiently communicate its  message to them. Personal selling - the most basic form of  promotion: a direct person-to-person  promotional presentation to a potential buyer. Nonpersonal selling - advertising, sales  promotion, direct marketing, and public relations. Promotional Mix
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Components of the Marketing Mix
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Objectives of Promotional Strategies
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Product placement - marketers pay placement  fees to have their products showcased in various  media, ranging from newspapers and magazines  to television and movies. Guerilla marketing - innovative, low-cost  marketing efforts designed to get consumers’  attention in unusual ways. Promotional Planning
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Advertising - paid nonpersonal communication  usually targeted at large numbers of potential  buyers. Advertising expenditures are great– carmakers spend  $20 billion per year. Consumers are bombarded with many messages. Firms need to be more and more creative and  efficient at getting consumers’ attention.  Advertising
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Product advertising - messages designed to sell a  particular good or service Institutional advertising - messages that promote  concepts, ideas, philosophies, or goodwill for 
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ch13+PPP - Chapter 13 Promotion and Pricing Strategies...

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