Promotion - BUS2010F Marketing CHAPTER 14...

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2013/04/01’ 1’ BUS2010F Marketing CHAPTER 14 Communication (Promotion) Marketing Mix (7 P’s) PRODUCT PRICE PROMOTION PHYSICAL EVIDENCE PROCESSES PEOPLE PLACE Marketing Mix for Services Communications Landscape 2013/04/01 Promotion 3 Magazines
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2013/04/01’ 2’ Promotion Mix and IMC 2013/04/01 Promotion 4 IMC Advertising Sales Promotion Direct Marketing Public Relations Personal Selling The Communication Process 2013/04/01 Promotion 5 Determine Objectives & Budget Identifying the Target Audience Designing a Message Choosing Media Process Feedback Determine Objectives and Audience Target Audience Messages specifcally created For a target market STP Market Research Market Environment 2013/04/01 Promotion 6
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2013/04/01’ 3’ Determine Objectives Awareness Knowledge Liking Preference Conviction Purchase 2013/04/01 Promotion 7 Objectives 2013/04/01 Promotion 8 How do you know where consumers are in the process? RESEARCH Also PLS Produce Life Cycle Strategies Introduction stage When the new product is first launched Takes time Slow sales growth Little or no profit High distribution and promotion expense Could have a deficit from the prod dev stage Strategy: Extensive promotion and introduction Educational / brand awareness type advertising
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2013/04/01’ 4’ Growth stage When the new product satisfies the market Sales increase New competitors enter the market Price stability or decline to increase volume Profits increase Promotion and manufacturing costs gain economies of scale Product quality increases New features
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Promotion - BUS2010F Marketing CHAPTER 14...

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