MRKTNG 3000 1nd Edition Lecture 13 Outline of Last Lecture I Pricing a Objectives b Pricing strategy for new products c Strategy for existing products d Pricing methods Outline of Current Lecture II Integrated marketing communications a Personal selling b Sales promotions c Public relations d Advertising Current Lecture Ch 8 read ad budgeting area 127 133 advantages disadvantages of media trade and consumer sales promotions procedures for evaluating ad programs Integrate marketing communications Personal selling Sales promotions Public Relations Advertising Concept of designing marketing activities advertising personal selling sales promotion public relations to provide a consistent message across all audiences is referred to as integrated marketing communications IMC Promotion Advertising paid form of nonpersonal communication Personal selling two way personal communication most expensive These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Public relations communications management that seeks to influence stakeholders Sales promotion short term inducement of value to arouse interests e g coupons samples contests etc Promotional mix Target audience stakeholders other than consumers Channel members Consumers Product life cycle 1 Intro a Publicity advertising to stimulate personal selling to channel members 2 Growth a Advertising differentiation personal selling to channel members 3 Maturity a Reminder advertising sales promotion 4 Decline a Very little promotion Complexity Technical sophistication Product characteristics Purchase risk financial social physical Stages of buying decision 1 Pre purchase 2 Purchase 3 Post purchase Channel strategies Push strategy Target channel members Personal selling Sales promotion Pull strategy Target consumers end users Advertising Message problems Selective attention distortion and retention AIDAA Attention Example Hardees Break through clutter Right media Relevant message I Interest Generate interest in product Talk to needs of market D Desire Build by Logic Emotion A Action Lead customers towards taking action