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Brass Button Philosophy: how to handle difficult questionsArchitecture 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 PeasPromotional MixAdvertising1. Promote the product2. Institutional advertising: trying to improve the company brand3. Sponsorship: one benefit that is unique to sponsorship is exclusivitycan be seen as a form of product placementproduct placement: whenever a product is inserted in a TV show or a radio showblink/adlet: an advertisement between 1-4 secondstiming of advertisement is paramount to the success of itThe 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 successfulDirect mail is the least impressive of all methodsPublic RelationsDealing with integrity with a variety of mediums to be able to create a positive image or repair a negative imageCrisis management: how you deal with a situation whenever it harms the image of an individual or organizationhonestyBuild integrityTo be able to build a positive image or correct a negative oneTwo aspects of public relations:Media RelationsThe media is that personCommunity RelationsShow the community that you are a good citizenJohn 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 RecognitionBrand IdentityCause Related Marketing: whenever a company lends financial support to an institution for the sake of being able to help the organizationEx: Yoplait gets involved with breast cancer awareness78% of customers are more likely to purchase a product from a company involved in cause related marketingSales PromotionsCouponsLoyalty programsSweepstakes/contestsSamplesPoint 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 customersPurposes:Draw trafficAdvertise the product“Natural” can no longer be on labels unless the product is actually naturalimpulse buyingTrojan 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 accessoriesPersonal SellingProduct is placed in the hands of skilled people who can sell it successfully1. Understand who you are trying to appeal to (the decision maker)2. Prepare your sales presentation3. Anticipate objections4. Close the deal5. Follow UpRebate born in 1975Integrative Marketing Communication3 Skills needed in negotiation:analyticalcommunicationconfidenceSteps to negotiation:1. PreparationPerspective-takingObjective criteria (justification)OptionsSubjective ValueWhen its all over, are they going to like you enough to trust you enough to be able to engage in another relationship?Articles: Groceries Have Become A Guy ThingREVIEW:Categories:John Camp’s how to be successfulCustomer SatisfactionMarketing Strategy FrameworkMarket AnalysisStrategy DevelopmentImplementationMarketing MixPersonal BrandingPricing StrategiesPromotional MixSponsorshipProduct PlacementPublic RelationsTwo aspects ofCrisis managementSales PromotionsPersonal SellingWhat is the last step?NegotiationMarketing Test 2 10/29/2013Brass Button Philosophy: how to handle difficult questionsArchitecture 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 PeasPromotional MixAdvertising - 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 placemento 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 ito The time of day or night that you select if there is an audienceout there awake, and if they pay attention to the product thenit will be successful- Direct mail is the least impressive of all methodsPublic Relations- Dealing with integrity with a variety of mediums to be able to createa positive image or repair a negative image- Crisis management: how you deal with a situation whenever it harms the image of an individual or organizationo honestyo Build integrityo 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 persono 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 IdentityCause 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 awareness 78% of customers are more likely to purchase a product from a company involved in cause relatedmarketingSales Promotions- Coupons- Loyalty programs- Sweepstakes/contests- Samples- Point of purchase displays: when you are able to design a campaignwhere you can have your product seen in a captivated way to draw the attention of your customerso 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


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LSU MKT 3401 - Marketing Test 2

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