CSUF MKTG 351 - Chapter 16: Advertising, Public Relations, and Sales Promotion

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Chapter 16: Advertising, Public Relations, and Sales Promotion. 1. Major Types of Advertising: a firms promotional objectives determine the type of advertising it uses. a. Firms promotional objectives determine the type of advertising it uses. i. Institutional advertisingii. Product advertising2. Advertising and Market Sharea. Advertising response function: a phenomenon in which spending for advertising and sale promotion increases sales or marketing up to a certain level but then produces diminishing returns3. Effects of Advertising on Consumers4. Creative Decisions in Advertisinga. Identifying Product Benefitsi. Attributeii. Benefit5. Unique selling proposition: a desirable, exclusive and believable advertising appeal selected as the theme for campaign.6. Media Typesa. Newspapersb. Coop Advertising: arrangement in which the manufacturer and the retailer split the costs of advertising the manufactures brand. c. Magazined. Radioe. Television: infomercialf. Internetg. Adver-gaming: placing advertising messages in video games.h. Outdoor Mediai. Alternative Media7. Media Selection Considerations: a. Media Mix: the combination of media to be used for a promotional campaign. b. Cost per Contact: the cost of reaching one member of the target market.c. Cost per click: cost associated with a consumer clicking on a display orbanner ad. d. Frequency: number of times an individual is exposed to a given message during a specific period. e. Audience selectivity: ability of an advertising medium to reach a precisely defined market. 8. Media Scheduling:a. Continuous media schedule: used for products in the later stage of the product life cycle.b. Flighted Media schedule: ads are run heavily every other month or every two weeks to achieve a greater impact with an increased frequency and reach at those times.c. Pulsing media schedule: combines continuous scheduling with flighted scheduling during the best sales periods. d. Seasonal media schedule: advertising only during times of the year the product will be used. 9. Public relations: element in the promotional mix that evaluates public attitudes, identifies issues that may elicit public concern, and executes programs to gain public understanding and acceptance. a. Publicity 10. Major Public Relations Toolsa. New product publicityb. Product placementc. Consumer educationd. Sponsorshipe. Company Websitesf. Company Social Media Sites11. Managing unfavorable Publicitya. Crisis management: coordinated effort to handle all the effects of unfavorable publicity or another unexpected unfavorable event. 12. Sales Promotiona. Trade Sales promotionb. Consumer Sales Promotionc. Types of Consumers and Sales Promotion Goals (see table pg 283)i. Loyal customersii. Competitors customersiii. Brand switchersiv. Price buyers.Chapter 17: Personal Selling & Sales Management1. Identify customer relationshipsa. Customer centric: an internal management philosophy similar to the marketing concept. b. Learning: informal process of collecting customer data.c. Knowledge Management: customer info is centralized and shared in order to enhance relationships between customers and organization. i. VP in seafood industry, collected data about industry everyday and kept active in the industry current eventsd. Interaction: customer and organization interact and exchange info2. Understand Interactions of the Current Customer Base. a. Touch points: areas of a business where customers have contact with the company and data might be gathered. b. Point-of-sale interactions: touch point in stores or info kiosks that use software to enable customers to easily provide info about themselves without feeling violated. 3. Capture Customer Data4. Leverage Customer infoa. Campaign management: developing product or service offerings customized for the appropriate customer segment and then pricingand communicating theses offerings for the purpose of enhancing customer relationships. b. Retaining loyal customersc. Cross-selling other products and services5. Common CRM Marketing Database Applicationsa. Campaign Managementb. Retaining loyal customersc. Cross-selling other products or servicesd. Designing targeted marketing communicationse. Reinforcing customer purchase decisions f. Inducing product trail by new customersg. Increasing effectiveness of distribution channel marketing h. Improving customer service6. 7 Steps in the Personal Selling Process:a. Generating Leadsi. Lead generation or prospecting: identification of those firms and people most likely to buy the sellers offerings.ii. Referral: recommendation to a salesperson from a customer orbusiness associate.iii. Networking: finding potential clients from friends, business contacts, coworkers, and acquaintances. b. Qualifying Leadsi. Determination of a sales prospects:1. Recognized need2. Buying power3. Receptivity and accessibility c. Pre-approach: learn how to say customers last name, learn about them from knowledge management. i. “Dumbass” commerciald. Approaching the customers and probing needse. Developing and proposing solutions f. Handling objections i. Copier sales, monthly maintenance fee from IBM, lifetime maintenance is included with Professor’s company. g. Closing the Salei. Boeing Jet engines, prices sometimes are negotiated. h. Following upi. Check with shipping company before asking Walmart if they have received order. 7. Sales Managementa. Defining sales goals and the sales processb. Determining the sales force structurec. Recruiting and training the sales forced. Compensating and motivating the sales forcee. Evaluating the sales forcef. Defining Sales Goals and Sales processi. Quota: sales goals usually based on sales volume alone but sometimes including key accounts, new accounts, repeat sales, and specific products. g. Determine the Sales force structureh. Recruiting and training the sales force. i. Risk takers1. Professors story and grocery people, timed sales pitch, set his alarm and took his risk, sorry buyer, your time is up. 8. Compensating and Motivating the Sales Forcea. “You want your sales force to have an ego”Chapter 18: Social Media and Marketing1. How consumers use social mediaa. Provides a more sophisticated method for marketers to interact with consumers. 2. Social Media: any tool or service that uses the internet to facilitate conversations 3. Social commerce: a subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and

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CSUF MKTG 351 - Chapter 16: Advertising, Public Relations, and Sales Promotion

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