Chapter 16 Promotion Mix Combination of promotional tools an organization uses Product itself can be a promotional tool Traditionally advertising personal selling sales promotion and public relations Integrated Marketing Communication IMC Combines the promotional tools into one comprehensive unified promotion strategy Create a brand image meet the needs of the consumer and meet the strategic marketing and promotional goals of the firm Advertising A paid mass mediated attempt to persuade Non personal communication by organizations and individuals who are in some way identified in the message c Prospect Those who meet the qualifying criteria Steps 1 Prospect Qualify a Prospecting Researching potential buyers and choosing those most likely to buy b Qualifying Making sure that people have a need for the product the authority to buy and the Propaganda Non personal communication that does not have an identified sponsor Product Placement Putting products into TV shows and movies where they will be seen Infomercial Full length TV program devoted exclusively to promoting a particular good or service Interactive Promotion Allows marketers to go beyond a monologue in which sellers try to persuade buyers to buy things to a dialogue in which buyers and sellers work together to create a mutually beneficial relationship Global Advertising The marketer is required to develop a single product and promotional strategy that can be implemented worldwide Personal Selling Face to face presentation and promotion of goods and services including the salesperson s search for new prospects and follow up services after the sale willingness to listen to a sales message Public Relations The management function that evaluates public attitudes changes policies and procedures in response to the public s requests and executes a program of action and information to earn public understanding and acceptance Publicity Any information about an individual product or organization that s distributed to the public through the media and is not paid for or controlled by the seller Sales Promotion The promotional tool that stimulates consumer purchasing and dealer interest by means of short term activities 2 Preapproach Gather information before you approach the customer about his or her wants needs 3 Approach Build credibility be friendly 1st impressions count 4 Make a Presentation Match the benefits of your value package to the client s needs 5 Answer Objections Anticipate objections and reasons why customer will not buy 6 Close the Sale Trial Close question or statement that moves the selling process towards the sale 7 Follow Up Listen to the public Change Policies Procedures Inform People that You are Responsive to their Needs displays trade shows event sponsorships contests Internal Sales Promotions Sales training the development of sales aids such as flip charts participation in trade shows Viral Marketing Rewarding customers for promoting their brands to others Push Strategy The producer uses advertising personal selling sales promotion and all other promotional tools to convince wholesalers and retailers to stock and sell merchandise PUSHING it through the distribution system to stores Pull Strategy Directs heavy advertising and sales promotion efforts toward consumers If this works consumers will go to the store and ask for the products thus PULLING THEM IN Pick Economy Refers to those consumers who pick out their products from online outlets or who do online comparison shopping
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