bus mgt - Lecture 15: Feb. 26th, 2010 Marketing: Promotion...

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Lecture 15: Feb. 26 th , 2010 Marketing: Promotion Components of Integrated Promotion Advertising o Product placement o Advergaming o Minimovies Sales Promotions o Consumer promotions such as premiums, promotional products, samples, coupons, rebates and displays o Trade promotions Public Relations o Internal Communication o Issues Management o Corporate Communication o Crisis Communication o Event Marketing Personal Sales Buzz marketing and E-Commerce o Web-Design Advertising Paid, non-personal communication through various media by organizations and individuals who are in some way identified in the advertising message Sales Promotion Promotional tool that stimulates consumer purchasing and dealer interest by means of short-term activities Publicity Any information about an individual, product, or organization that’s distributed to the public through the media and that’s not paid for or controlled by the seller Advantages for the Organization, Individual, or the Product o Free o Far reaching o More believable than advertising Disadvantages o Difficult to control in terms of both timing and content o Can be good or bad publicity o Once a story has run, it is unlikely to run again Word-of-Mouth Viral marketing Blogging Podcasting E-Mail Promotions
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Mobile media Personal Selling The face-to-face presentation and promotion of goods and services Steps in Personal Selling o Prospect and qualify o Preapproach o Approach o Make Presentation o Answer Objections o Close the Sale o Follow up Promotional Strategies Push Strategy – Producers use advertising, personal selling, sales promotions, and other tools to get their products stocked on shelves. TOOLS: trade promotion, personal selling. Pull Strategy – Directs heavy advertising and sales promotions efforts towards consumers and gets the public to request their products from retailers. TOOLS: advertising, sales promotion, public relations. Pick Strategy – Refers to consumers who pick out their products from online outlets. TOOLS: Word-of-mouth promotion Customer Relationship Management The customer life cycle o Acquire, through differentiation, innovation and convenience; o Enhance, through bundling, cost reduction and customer service o Retain, through adaptability, communication and new products Solutions o Direct marketing o Cross-sell and up-sell o Fulfillment o Customer support o Proactive service, retention and loyalty programs o Sales force automation Customer Acquisition and Retention Acquiring new customers o Differentiation is key Innovation Convenience Enhancing the profitability of existing customers o Bundling is key Reducing costs Customer service Retaining profitable customers o Adaptability is key Listening New products
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Takeaways Promotion is not advertising Personal Salesmanship is a crucial skill Do not forget that, in the end, it is about acquiring, retaining, and upgrading customers
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This note was uploaded on 02/23/2012 for the course MGT 101 taught by Professor Staff during the Fall '10 term at Texas State.

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bus mgt - Lecture 15: Feb. 26th, 2010 Marketing: Promotion...

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