{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Bus 100 Ch 14 - Chapter 14 Promotion and Pricing Strategies...

Info iconThis preview shows pages 1–10. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 14 Promotion and Pricing Strategies Learning Goals Discuss how integrated marketing communications relates to a firm’s overall promotion strategy. Explain promotional mix and outline the objectives of promotion. Summarize the different types of advertising and advertising media. Outline the roles of sales promotion, personal selling, and public relations. Describe pushing and pulling promotional strategies. Discuss the major ethical issues involved in promotion. Outline the different types of pricing strategies. Discuss how firms set prices in the marketplace, and describe the four alter- native pricing strategies. Discuss consumer perceptions of price. 1 2 3 4 5 6 7 8 9
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Promotion   The function of informing, persuading, and influencing a purchase decision. Integrated marketing communications (IMC)   Coordination of all promotional activities—media advertising, direct mail, personal selling, sales promotion, and public relations—to produce a unified customer-focused message.
Background image of page 2
INTEGRATED MARKETING COMMUNICATIONS • 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.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
THE PROMOTIONAL MIX Promotional mix Combination of personal and nonpersonal selling techniques designed to achieve promotional objectives. Personal selling Interpersonal promotional process involving a seller’s face-to- face presentation to a prospective buyer. Nonpersonal selling Advertising, sales promotion, direct marketing, and public relations.
Background image of page 4
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Objectives of Promotional Strategy
Background image of page 6
Providing Information • Major portion of U.S. advertising provides information about a product. Differentiating a Product • Communicate to buyers meaningful distinctions about the attributes, price, quality, or use of a good or service. Increasing Sales • Most common objective of a promotional strategy. Stabilizing Sales • Stable sales evens out the production cycle, reduces some management and production costs, and simplifies financial, purchasing, and marketing planning. Accentuating the Product’s Value • Explaining hidden benefits of ownership.
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
ADVERTISING Advertising Paid nonpersonal communication delivered through various media and designed to inform, persuade, or remind members of a particular audience. • Consumers receive 3,500 to 5,000 marketing messages each day. • Television networks earn $22 billion annually from advertising. In U.S., automotive, retail, and communications companies spend nearly $4 billion annually on advertising.
Background image of page 8
Types of Advertising Product advertising Messages designed to sell a particular good or service. Institutional advertising Messages that promote concepts, ideas, philosophies, or goodwill for industries, companies, organizations, or government entities.
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}