Promotions MixA model of communication alternativeMedia vs. personal communicationPaid vs. free communicationPaid provide controlFree provide credibilityDifferent companies use differing level of each part of mixAdvertisingAdvertising- Any PAID, NONPERSONAL communication from an identified sponsor that INFORMS, PERSUADES and or REMINDSAdvantages and disadvantages of paid mass mediaAdvantages:Control over message, delivery of the message and timing of the messageLow cost to reach each personDisadvantages:High absolute costLow credibilityIn many instances, absence of rapid feedbackPublic RelationsDevelops understanding and goodwillPublicityMedia time and space that the organization does not pay forPersonal SellingSales personnel representing the organization who are in direct communication with potential customers.Social MediaVarious online technology tools that allow people to connect via the Internet to share information and resourcesFacebookTwitterDecision Sequence ModelA process used in advertising as a way to guide the creative process towards effective strategy and execution.ComponentsSituation Analysis – is research based analysis that involves fact finding, gathering information for display all internal and external factors that affects a business/ organization.ConsumerCompetitionProduct categoryCompanyMacro- EnvironmentObjectives and PositioningObjectives – Goals the company plans to achievePositioning – The way the consumer perceive the brandBrand – All of the intangible attributes attached to the product.Product = orange juiceBrand = Minute MaidBrand equity – The difference in perceived value between the product and the brandStrategiesA combination of action that achieve the objectivesTypes of strategiesCreative mediaSales promotionBudget SettingAllocation of funds needed to implement the strategiesImplementationPutting the strategies into actionEvaluationAssesses the success of the campaignDid the campaign achieve the stated objectives?ADV 3008 Lecture 1 Outline of Current LectureI. The Marketing Concepta. Marketing MixII. Cont. of Promotions Mix III. The beginning of Advertising a. Advantagesb. Disadvantages IV. Decision Sequence Model Current LecturePromotions Mix- A model of communication alternative- Media vs. personal communication - Paid vs. free communication o Paid provide control o Free provide credibility - Different companies use differing level of each part of mix ←← Advertising ←← Advertising- Any PAID, NONPERSONAL communication from an identified sponsor that INFORMS, PERSUADES and or REMINDSAdvantages and disadvantages of paid mass media Advantages: Control over message, delivery of the message and timing of the message Low cost to reach each person Disadvantages: High absolute cost Low credibility In many instances, absence of rapid feedback← Public RelationsDevelops understanding and goodwill Publicity o Media time and space that the organization does not pay for ←Personal SellingSales personnel representing the organization who are in direct communication with potential customers. Social Media Various online technology tools that allow people to connect via the Internet to share information and resources o Facebook o TwitterDecision Sequence Model A process used in advertising as a way to guide the creative process towards effective strategy and execution. Componentso Situation Analysis – is research based analysis that involves fact finding, gathering information for display all internal and external factors that affects a business/ organization. Consumer Competition Product category Company Macro- Environment o Objectives and Positioning Objectives – Goals the company plans to achieve Positioning – The way the consumer perceive the brand Brand – All of the intangible attributes attached to the product. Product = orange juice Brand = Minute Maid Brand equity – The difference in perceived value between the product and the brand o Strategies A combination of action that achieve the objectives Types of strategies - Creative media - Sales promotion Budget Setting Allocation of funds needed to implement the strategies Implementation Putting the strategies into action Evaluation Assesses the success of the campaign - Did the campaign achieve the stated
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