Communication by marketers that inform, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response What is the main function of a promotional strategy?
A plan for the optimal use of the elements of promotion: advertising, public relations, person selling, sales promotion, and social media Convince target customers that the goods and services offered provide a competitive advantage over the competition What is advertising? Public relations? Publicity? Sales promotion? Advertising – impersonal, one way mass communication about a product or organization that is paid for by a marketer
Publicity – public information about a company, product, service, or issue appearing in the mass media as news item Sales promotion – marketing activities – other than person selling, advertising, and public relation – that stimulate consumer buying and dealer effectiveness What is communication?
The process by which we exchange or share meaning through a common set of symbols
What are the two major categories of communication?
Interpersonal communication – direct, face to face communication between two or more people
Mass communication – the communication of a concept or message to large audiences What is the communication process?
Sender, encoding the message, message channel, decoding the message, receiver What is Institutional advertising?
A form of advertising designed to enhance a company’s image rather that promote a product Understand pioneering, competitive and comparative advertising.
Pioneering – a form of advertising designed to stimulate primary demand for a new product or product category
Competitive advertising – a form of advertising designed to influence demand for a specific brand
Comparative – a form of advertising that compares two or more specifically named or shown competing brands one or more specific attributes What are the steps in the advertising campaign decision process? Understand attribute vs. benefit.
Attribute – is simply a feature of the product such as its easy open package, special formulation, or new lower price
Benefit – is what consumers will receive or achieve by using the product such as convenience or ease of use What are the types of advertising appeals?
Profit – lets consumers know whether the product will save them money, make them money, or keep them from losing money
Health- appeals to those who are body consciences or who want to be healthy Fear, admiration, convenience, fun and pleasure, vanity and egotism, environmental consciousness What are the types of executional styles for advertising? Slice of life – depicts people in normal settings
Lifestyle – shows how well the product will fit in with the consumers life
Spokesman/testimonial – can feature a celebrity, company official, or typical consumer making a..
Fantasy – creates a fantasy for the viewer built around use of the product
Humorous – advertisers often use humor in their ads
Real/animated product symbols – creates a character that represents the product in ads
Mood or image - builds a mood or image around the product
Demonstration – shows consumers the expected benefit
Musical – conveys the message of the advertisement through song
Scientific – uses research or scientific evidence to give a brand superiority over competitors What is media planning?
The series of decisions advertisers make regarding the selection and use of media, allowing the marketer to optimally and cost effective communicate the message t the target audience What are the two categories of sales promotions?
Consumer sales promotion – sales promotion activities targeting the ultimate consumer
Trade sales promotion – uses promotion activities targeting a marketing channel member, such as a wholesaler or retailer What is the goal of sales promotions?
Immediate purchase is the goal of sales promotion,