MGT 3300 Note 10

MGT 3300 Note 10 - June 10th 2011 Marketing management What...

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Marketing management June 10th, 2011
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What is promotion? Communication between the seller and the buyer Influence attitudes, intentions and behaviors Aimed at communicating that they have the right product in the right place and at the right price
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Basic communication model Encode s Decodes F e d b a c k
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Traditional communications process Source “sender” or origin Encoding Translating into words, sounds, symbols, images Message channel “carrier” person, media Decoding Back translation
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Objectives of promotion Create Awareness Stimulate Demand Encourage Product Trial Indentify Prospects Retain Loyal Customers Facilitate Reseller Support Combat Competitive Promotional Efforts Reduce Sales Fluctuations
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Create awareness Awareness is crucial to initiating the product adoption process for new products For existing products, promotional efforts create increased awareness of brands, product features
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MGT 3300 Note 10 - June 10th 2011 Marketing management What...

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