marketing mix productpromotionpriceplace. promotion this is the attempt to draw attention to a...
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Marketing Mix
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PROMOTION
This is the attempt to draw attention to a product or business in order to gain
new customers or to retain existing ones.
It includes all of the tools available to the marketer to communicate with the
public.
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This is a form of communication that typically
attempts to persuade potential customers to purchase or to consume more of a particular
product or service.
Advertising
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Main advertising
media:
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Television
Billboard
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Blimps
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Magazines Radio
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Brochures
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Promotional Items
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Types of Advertising:
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Informative advertising is designed to increase customer awareness providing any information that the
customer may need.
Informative advertising
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Examples of Informative Advertising:
MedicineLaptops/Computers
ElectronicsCars
Student Activity:Why do advertisements for the above products
need to be informative?
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Persuasive advertising uses techniques to convince consumers to purchase products. It often stresses that the product is more desirable
than others.
Persuasive advertising
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Homework:
(1) Find and cut out ONE informative advertisement and ONE persuasive advertisement from a newspaper or magazine
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Homework:
(2) Construct a table showing the advantages and disadvantages of Advertising
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This refers to all other techniques used to encourage sales such as:
Buy one, Contests/Get one freeCompetitions
Sales Promotion
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Free sample Coupons
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Introductory offers (Free installation)
Discounts
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Loss leaders
These are products that are sold below cost price. Losses are made but the greater advantage is that it draws customers to the store and they may also buy other products.
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This is a company’s attempt to communicate with groups that form
its ‘public’.
The aim is to increase sales by improving the image of the firm and
its products.
Public Relations
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Groups that are included in a company’s ‘public’:
CustomersSuppliers
DistributorsShareholdersTrade Unions
Banks
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EXAMPLE:• A new restaurant may advertise
themselves as an introduction to the public. However, if an article is done in a newspaper of the new restaurant, customers may take it more seriously.
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EXAMPLE:• Press Conferences involve inviting
journalists to a company presentation. New products may be launched and samples may be given out
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• Some companies appoint a Publicity Manager. This is done to promote favourable press stories and also to respond to criticism
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• Sponsorship.
• This is popular in the sporting world. There is a link between certain companies and sporting events or sports personalities.
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Word of mouth
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This is the passing of information from person to person.
A satisfied customer who recommends a product to a potential customer acts as an advertisement for the company’s products or service.
Word of mouth
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For every three people willing to spread positive word there are thirty-three who will spread the negative.
When past customers tell other people how great a service is, it makes people feel secure and safe. Testimonies can be used as a marketing tool.
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