MKT 3010 1st Edition Lecture 19Outline of Last Lecture Ch. 3 cont.Social engagement processIndividual Brand equityChapter 18Elements of an integrated marketing communication strategySteps in planning an ad campaign1. Id target audience2. Set ad plan3. Determine the ad budget4. Convey message5. Evaluate and select media6. Create advertisements7. Assess impactOutline of Current LectureCh 18 contSteps in planning an Ad Campaign (7. Assess Impact)Regulatory and Ethical issues in advertisingElements of an integrates marketing communication strategyCh 19: personal selling and sales managementThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.The scope and nature of personal sellingPersonal selling as a careerThe value added by personal sellingThe personal selling process1. Generate and qualify leads2. Preapproach3. Sales presentation and overcoming reservations4. Closing the sale5. Follow-upManaging the sales force Ethical and legal issues in personal sellingCurrent LectureApril 9, 2015Chapter 18 cont.:Steps in planning an Ad Campaign- 7. Assess Impacto Pretesting- looking at market before the ad campaign runs, what is the brand awarenesso Tracking- what is going on during the ad campaign; are we increasing awarenesso Posttesting- looking at how successful the campaign wasRegulatory and Ethical issues in Advertising- Federal Trade Commission- enforce the “truth in advertising”- Federal Communications Commission- regulates what is being communicated by radio, TV, wire, satellite, between states and internationally- Puffery- illegal exaggeration of what a product can really do, gray area of interpretationElements of an Integrated Marketing Communication Strategy- Public Relations (PR)o “Free” media attentiono Importance of PR has growno Tools: news releases, annual reports, brochures, PSAs, press kits, event sponsorship- Sales Promotionso Special incentiveso Excitement-building programso End user or channel memberso Short-termo Tools: discounts, coupons, POP displays (point of purchase), demonstrations, premiums (give away), contests, sweepstakes, rebates, sampling, pop-up stores, cross-promotingChapter 19: Personal selling and sales managementThe scope and nature of personal selling- Two-way flow of communication- Buyer & Seller- Influence purchase decision- Venues:o Over the interneto Telephoneo Face-to- faceo Video teleconferencingPersonal Selling as a CareerThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Lifestyle- not at a desk all day- Variety- Lucrative- VisibleThe Value Added by Personal Selling- Salespeople:o Educate and provide advice- know what you are sellingo Save time and simplifying buying- save the consumer from researching themselveso Build relationships- increase customer loyalty and build strong supply chainsThe personal selling process- Step 1: Generate and Qualify Leads- sourcing leads (who are you going to go after to sell)o Sources of leads Current customers Networking Internet Trade Shows Cold Calls Telemarketingo Qualify leads- are these good leads? Should we pursue?- Step 2: Preapproacho Prior to meeting customer Extends qualifications- research more about company; what can we help them solve? Set goals- to get to next meeting- Step 3: Sales Presentation and Overcoming reservationso Presentationo Handling reservations- Step 4: closing the saleo Order- no sale until signatureo Stresso No-to-Yes: never know when a no will turn into a yes- Step 5: Follow- upo Five service quality dimensions: Reliability Responsiveness Assurance Empathy TangiblesManaging the Sales Force- Sales Force Structureo Sales management- you can sell and now you are teaching and managing others Company sales force- within the company Manufacturer’s representative- third party sells on your behalfo Sales person duties Order getting Order taker Sales support Combination duties- Recruiting and Selecting Sales peopleo Traits Personality Optimism Resilience Self-motivation Empathy- Sales trainingo Selling and negotiation techniqueso Products and service knowledgeo Time and territory managemento Company policy and procedures- Motivating and compensating salespeopleo Financial rewardso Nonfinancial rewardso Evaluating salespeople Reward structure Objective or subjectiveEthical and Legal issues in personal selling Between sales manager and sales force- does manager treat all equally Salesperson and customer- is buyer beware or is there a real relationship, did seller say all information Sales force and corporate policy- abiding by corporate policyKey words:PretestingTrackingPosttestingFDCFCCPufferyPR and toolsSales Promotion toolsPersonal
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