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Mgmt 324 Notes (Promotion)

Mgmt 324 Notes (Promotion) - Marketing Management Qiang Liu...

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Marketing Communication The Last “P” (Promotion) Marketing Management Qiang Liu I know that half of my advertising is wasted. My problem is that I don’t know which half." – John Wanamaker (1930’s)
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2 Introduction In marketing, communication includes more than just advertising and other “promotion”: all other 3Ps (price, place, product) communicate with consumers too. Effective communication requires sender and receiver to share the meaning of the message. Difficult because there is noise at each stage Feedback Loop Sender Encoding Process Message Transmission Decoding Process Receiver Noise What kind of promotion have you encountered in your daily life?
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