Marketing Test 2 10 29 2013 Brass Button Philosophy how to handle difficult questions Architecture presentation discussed the bridge over Chalmette and they wanted to put 7 000 brass buttons on the railing so when people walked from one side to the other the hands of the visitors keep the brass buttons polished Someone brought up the fact that the buttons would be stolen by vandals and there would eventually be none left Presenter then stated that the brass buttons could be molded onto the railing which shouldn t cost much different and therefore could not be stolen Article on sponsorship and the Black Eyed Peas Promotional Mix Advertising 1 Promote the product 2 Institutional advertising trying to improve the company brand 3 Sponsorship one benefit that is unique to sponsorship is exclusivity o can be seen as a form of product placement o product placement whenever a product is inserted in a TV show or a radio show blink adlet an advertisement between 1 4 seconds timing of advertisement is paramount to the success of it o The time of day or night that you select if there is an audience out there awake and if they pay attention to the product then it will be successful Direct mail is the least impressive of all methods Public Relations Dealing with integrity with a variety of mediums to be able to create a positive image or repair a negative image Crisis management how you deal with a situation whenever it harms the image of an individual or organization o honesty o Build integrity o To be able to build a positive image or correct a negative one Two aspects of public relations o Media Relations The media is that person o Community Relations Show the community that you are a good citizen John Hancock insurance company has teamed up with the Boston Marathon and said we are a wonderful financial institution but we want to be seen in the community Name Recognition Brand Identity Cause Related Marketing whenever a company lends financial support to an institution for the sake of being able to help the organization Ex Yoplait gets involved with breast cancer 78 of customers are more likely to purchase a product from a company involved in cause related awareness marketing Sales Promotions Coupons Loyalty programs Sweepstakes contests Samples Point of purchase displays when you are able to design a campaign where you can have your product seen in a captivated way to draw the attention of your customers o Purposes Draw traffic Advertise the product Natural can no longer be on labels unless the product is actually natural impulse buying Trojan Fish Strategy a successful technique for certain products is to be able to introduce the products at a very low price and when you love the product you spend equal to or more on its accessories Personal Selling successfully Product is placed in the hands of skilled people who can sell it 1 Understand who you are trying to appeal to the decision maker 2 Prepare your sales presentation 3 Anticipate objections 4 Close the deal 5 Follow Up Rebate born in 1975 Integrative Marketing Communication 3 Skills needed in negotiation analytical communication confidence Steps to negotiation 1 Preparation Perspective taking Objective criteria justification Options Subjective Value Articles Groceries Have Become A Guy Thing REVIEW John Camp s how to be successful Categories Customer Satisfaction Marketing Strategy Framework o When its all over are they going to like you enough to trust you enough to be able to engage in another relationship o Market Analysis o Strategy Development o Implementation Marketing Mix Personal Branding Pricing Strategies Promotional Mix Sponsorship Product Placement Public Relations o Two aspects of o Crisis management Sales Promotions Personal Selling o What is the last step Negotiation 10 29 2013 10 29 2013