Marco Romero CHAPTER 16 USING EFFECTIVE PROMOTIONS Promotion consists of all the techniques sellers use to motivate people to buy their products or services Promotion mix the combination of promotional tools an organization uses Integrated marketing communication IMC a technique that combines all the promotional tools into one comprehensive unified promotional strategy o Can create a positive brand image meet the needs of the consumer and meet the strategic marketing and promotional goals of the firm THE SIX STEPS IN A TYPICAL PROMOTIONAL CAMPAIGN Identify a target market 1 2 Define the objectives for each element of the promotion mix 3 Determine a promotional budget 4 Develop a unifying message 5 6 Evaluate the effectiveness Implement the plan Advertising paid nonpersonal communication through various media by organizations and individuals who are in some way identified in the advertising message o Identification of the sender separates advertising from propaganda o Total ad volume exceeds 294 billion yearly o Mail is number one at 63 billion television is number two at 48 billion DIFFERENT CATEGORIES OF ADVERTISING o Retail advertising advertising to consumers by various retail stores such as o Trade advertising advertising to wholesalers and retailers by manufacturers to supermarkets and shoe stores other manufacturers o Business to business advertising advertising from manufacturers to other manufacturers A firm selling motors to auto companies would use B2B advertising o Institutional advertising advertising designed to create an attractive image for an organization rather than for a product I 3 New York o Product advertising advertising for a good or service to create interest among consumer commercial and industrial buyers o Advocacy advertising advertising that supports a particular view of an issue eg an ad in support of gun control or against nuclear power plants Cause advertising o Comparison advertising advertising that compares competitive products o Interactive advertising customer oriented communication that enables customers to choose the info they receive such as interactive video catalogs that let customers select which items to view o Online advertising advertising messages that appear on computers as people visit different Web sites o Mobile advertising advertising that reaches people on their cell phones Top five advertising expenditure by media o Direct mail broadcast TV newspaper cable TV networks Radio Marco Romero Product placement putting products into TV shows and movies where they will be seen such as a Coke sitting on the desk on judges on American Idol Infomercials a full length TV program devoted exclusively to promoting goods or services Interactive promotion promotion processes that allows marketers to go beyond a monologue where sellers try to persuade buyers to buy things to a dialogue in which buyers and sellers work together to create mutually beneficial exchange relationships Marketers now want to build relationships Many markets today are moving from globalism one ad for everyone in the world to religionism specific ads for each country or for specific groups within a country Personal selling the face to face presentation and promotion of goods and services o The benefit is having a person help you complete your transaction o The avg cost of a single sales call to a potential B2B buyer is about 400 STEPS IN THE SELLING PROCESS 1 Prospect and Quality the first step in selling process is prospecting researching potential buyers and choosing those most likely to buy The selection process is called qualifying To qualify people means to make sure they have a need for the product the authority to buy and the willingness to listen to a sales message Some people call prospecting and qualifying the process of lead generation 2 Preapproach In this phase you learn as much as possible about customers and their wants and needs You want to know which people in the company are most likely to buy or use it 3 Approach First impression is very important When calling a customer for the first time you want to give an impression of friendly professionalism create rapport build credibility and start a business relationship 4 Make a presentation You ll need to match the benefits to the client s needs 5 Answer objections anticipation to any objections the prospect may raise and determining the proper responses is key 6 Close the sales After answering q s and objections you may want to present a trial close a question or statement that moves the selling process toward the actual purchase 7 Follow up handling customer complaints making sure the customer s questions are answered and quickly supplying what the customer wants Prospecting researching potential buyers and choosing those most likely to buy Qualifying in the selling process making sure that people have a need for the product and the willingness to listen to a sales message Prospect a person with the means to buy a product the authority to buy and the willingness to listen to a sales message Trial close a step in the selling process that consists of a question or statement that moves the selling process towards the actual close Steps in Business to consumer B2C selling process o Approach Ask Q s Make presentation Close sale Follow up Public relations PR 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 A good public relations program has three steps Marco Romero 1 Listen to the public Public relations states with good marketing research to evaluate public attitudes 2 Change policies and procedures Businesses earn understanding by creating 3 programs and practices in the public interest Inform people you re responsive to their needs You have to tell the public about programs PR has more power to influence consumers than other corporate communications because the message comes via the media a source usually perceived as trustworthy Public relations is a good alternative for advertising Publicity any information about an individual product or organization that s distributed to the public through the media and that s 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 o Activities includes displays trade shows and exhibitions
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