OF ADVERTISING AND PROMOTION
OF 6 IDENTIFY THE ELEMENTS OF THE PROMOTIONAL MIX (I.E., ADVERTISING, PUBLICITY, SALES PROMOTION, PERSONAL SELLING)
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OF 3 EXPLAIN THE ROLE OF PROMOTION AS A MARKETING FUNCTION
PROMOTION AS A MARKETING FUNCTION WITHIN THE MARKETING MIX, PROMOTION COMPLEMENTS THE OTHER THREE (PRICE, DISTRIBUTION, AND PRODUCT). IT IS ANY FORM OF COMMUNICATION THAT A COMPANY USES TO INFORM, PERSUADE, OR REMIND CONSUMERS ABOUT ITS PRODUCT OR SERVICES. OF 1 EXPLAIN THE CONCEPT OF BRANDING A BRAND IS A VERY IMPORTANT PART OF A COMPANY BECAUSE IT PROVIDES A UNIQUE IDENTIFICATIONS FOR THE COMPANY AND ITS OFFERINGS. BRAND RECOGNITION PLAYS A BIG PART WHEN A COMPANY IS TRYING TO SELL THEIR PRODUCTS. THE LEVELS OF BRAND RECOGNITION ARE NON-RECOGNITION, REJECTION, RECOGNITION, PREFERENCE, AND INSISTENCE. NON-RECOGNITION IS WHEN CONSUMERS ARE UNABLE TO IDENTIFY A BRAND. REJECTION IS THE CONSUMERS WILL NOT PURCHASE THE PRODUCT BECAUSE OF THE BRAND. RECOGNITION IS WHEN THE CONSUMERS CAN RECALL THE BRAND, BUT IT HAS VERY LITTLE INFLUENCE ON THE PURCHASE. PREFERENCE IS THE CONSUMERS VIEW ON WHETHER OR NOT THE BRAND IS VALUABLE AND WILL CHOOSE IT IF IT IS AVAILABLE. LASTLY, INSISTENCE IS WHEN CONSUMERS VALUE THE BRAND TO THE EXTENT THAT THEY REJECT OTHER BRANDS. BRANDMARK - UNSPOKEN PART OF BRAND - UNIQUE SYMBOL COLORING OR OTHER DESIGN ELEMENTS - (SWOOSH) BRANDNAME - A WORD, GROUP OF WORDS, LETTERS OR NUMBERS THAT REPRESENT A PRODUCT OR COMPANY ALSO CALLED PRODUCT BRAND TRADENAME - CORPORATE BRAND - IDENTIFIES AND PROMOTES THE CORPORATION - LEGALLY TRADED NAME (PEPSICO) TRADE CHARACTER - TYPE OF BRAND MARK THAT IS A CHARACTER OR HUMAN FORM - PILLSBURY DOUGH BOY BRANDING STRATEGIES
TYPES OF BRANDS
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PROMOTIONAL MIX
1. PUBLICITY/PR
CREATING AN IMAGE
PR REFERS TO ANY ACTIVITY DESIGNED TO CREATE A FAVORABLE IMAGE TOWARD A BUSINESS, PRODUCT, OR A POLICY.
PUBLICITY IS A SPECIFIC KIND OF PR THAT INVOLVES PLACING POSITIVE AND NEWSWORTHY INFORMATION. EX. A PANDA HAVING A NEW BABY IS GREAT PUBLICITY FOR THE ZOO
COST AND VALIDITY ARE HUGE ADVANTAGES BUT LACK OF CONTROL IS THE DISADVANTAGE
OF 4 EXPLAIN THE TYPES OF ADVERTISING (E.G. RADIO, TELEVISION, DIRECT MAIL, OUTDOOR, NEWSPAPER, INTERNET)
OF 5 IDENTIFY THE ADVANTAGES AND DISADVANTAGES OF EACH TYPE OF ADVERTISING
2. ADVERTISING
ADVERTISING: ANY FORM OF PAID, NONPERSONAL COMMUNICATION THAT USES MASS MEDIA TO DELIVER A MARKETER'S MESSAGE TO AN AUDIENCE.
-REACHES MANY
-EFFICIENT IN TERMS OF COST-PER-VIEWER
-CONTROLLABLE, REPEATABLE, DELIVERS SAME MESSAGE EVERY TIME
-NOT LIMITED BY GEOGRAPHY
-CAN MOVE POEPLE EMOTIONALLY BECAUSE OF FILM STYLE, MUSIC, AND OTHER PRODUCTION FACTORS
DISADVANTAGES OF ADVERTISING:
-HIGH OVERALL COST
-IMPERSONAL, NO INSTANT FEEDBACK, NO PERSONAL FACE-TO-FACE CONNECTION
TELEVISION
-REACHES MANY PEOPLE
-LOST COST PER VIEWER
-EMOTIONAL IMPACT
-HIGH TOTAL COST
-LONG LEAD TIME
RADIO
-HIGHLY MOBILE
-RELATIVELY LOW COST
-SHORT LEAD TIME
-LIMITED TO AUDIO
-STRONG POTENTIAL FOR INTERFERENCE FROM OTHER SOURCES
OUTDOOR
-LOW COST
-HIGH VISIBILITY
-SHORT LEAD TIME
-INCREASINGLY REGULATED
-LENGTH IS LIMITED
-INTERFERENCE
DIRECT MAIL
-EASY TO MEASURE EFFECTIVENESS
-STIMULATES ACTION
-HIDDEN FROM COMPETITION
-"JUNK MAIL"
-EXPENSIVE
MAGAZINES
-LONG LIFE SPAN
-CAN CARRY RESPONSE CARDS OR CUPONS
-HIGH PASS-ALONG RATE
-HIGH LOST
-LONG LEAD TIME
NEWSPAPERS
-SHORT LEAD TIME
-CARRY CUPONS
-LARGE CIRCULATIONS
-LOW PRINT QUALITY
-SHORT LIFE
-LIMITED SEGMENTATION
INTERNET
-HIGHLY TARGETED
-INSTANTLY MEASUREABLE
- INTERACTIVE
-COMPETITION, HIGH CLUTTER
-SECURITY AND PRIVACY CONCERNS
3. SALES PROMOTIONS
STIMULATION OF SALES ACHIEVED THROUGH CONTESTS, DEMONSTRATIONS, DISCOUNTS, EXHIBITIONS OR TRADE SHOWS, GAMES, GIVEAWAYS, POINT-OF-SALE DISPLAYS AND MERCHANDISING, SPECIAL OFFERS, AND SIMILAR .
4. PERSONAL SELLING
FACE-TO-FACE SELLING IN WHICH A SELLER ATTEMPTS TO PERSUADE A BUYER TO MAKE A PURCHASE. ONE ON ONE COMMUNCATION.
STEPS OF THE SALE
1. PREPARE FOR THE SALE
2. APPROACH
3. DETERMINE NEEDS
4. PRESENT THE PRODUCT
5. HANDLE ANY OBJECTIONS
6. CLOSE THE SALE
7. SUGGESTION SELL
8. FOLLOW UP
1. PUBLICITY/PR
CREATING AN IMAGE
PR REFERS TO ANY ACTIVITY DESIGNED TO CREATE A FAVORABLE IMAGE TOWARD A BUSINESS, PRODUCT, OR A POLICY.
PUBLICITY IS A SPECIFIC KIND OF PR THAT INVOLVES PLACING POSITIVE AND NEWSWORTHY INFORMATION. EX. A PANDA HAVING A NEW BABY IS GREAT PUBLICITY FOR THE ZOO
COST AND VALIDITY ARE HUGE ADVANTAGES BUT LACK OF CONTROL IS THE DISADVANTAGE
- IMAGE BUILDING
- BUSINESSES WANT TO PRESENT A POSITIVE IMAGE TO THEIR CUSTOMERS, EMPLOYEES, AND THE GENERAL PUBLIC.
- COMPANIES DO THIS THROUGH ACTIONS, (EX. HELPFULNESS OF CUSTOMERS GETS THEM COMING BACK) THROUGH BENEFITS, (EX. TUITION REIMBURSEMENT) AND THROUGH PRINT. (NEWS RELEASE OF DONATING TO A COMMUNITY SERVICE)
- PR REFERS TO ANY ACTIVITY DESIGNED TO CREATE A FAVORABLE IMAGE TOWARD A BUSINESS, PRODUCT, OR A POLICY.
- PUBLICITY IS A SPECIFIC KIND OF PR THAT INVOLVES PLACING POSITIVE AND NEWSWORTHY INFORMATION. EX. A PANDA HAVING A NEW BABY IS GREAT PUBLICITY FOR THE ZOO
- COST AND VALIDITY ARE HUGE ADVANTAGES BUT LACK OF CONTROL IS THE DISADVANTAGE
OF 4 EXPLAIN THE TYPES OF ADVERTISING (E.G. RADIO, TELEVISION, DIRECT MAIL, OUTDOOR, NEWSPAPER, INTERNET)
OF 5 IDENTIFY THE ADVANTAGES AND DISADVANTAGES OF EACH TYPE OF ADVERTISING
2. ADVERTISING
ADVERTISING: ANY FORM OF PAID, NONPERSONAL COMMUNICATION THAT USES MASS MEDIA TO DELIVER A MARKETER'S MESSAGE TO AN AUDIENCE.
- BROADCAST MEDIA: (TELEVISION AND RADIO) WHERE A SIGNAL IS SENT FROM A CENTRAL TRANSMITTER TO RECEIVERS IN A GEOGRAPHIC AREA. - MOST EXPENSIVE
- PRINT ADVERTISING: ANY PAID MESSAGE RUN IN A MAGAZINE OR NEWSPAPER. - MOST POPULAR
- DIRECT MAIL: (JUNK MAIL) A MARKETING MESSAGE SENT TO AN AUDIENCE THROUGH THE MAIL. (ALTHOUGH IT CAN BE VERY EFFECTIVE WHEN WANTING TO EFFICIENTLY TARGET MESSAGES.
- OUTDOOR ADVERTISING: (OUT-OF-HOME) INCLUDES BILLBOARDS, SIGNS ON BUSES OR TAXIS, POSTERS, OR AT SPORTING EVENTS.
- AMBIENT ADVETISING: ANY NONTRADITIONAL MEDIUM IN THE ENVIRONMENT OF THE AUDIENCE. (STICKERS ON BANANAS, CHALK ON THE SIDEWALK)
- CYBER OR INTERNET ADVERTISING: FASTEST GROWING AND MOST DYNAMIC. (BANNERS, COMMERCIALS, ETC.) - EASIEST TO IMPLEMENT
-REACHES MANY
-EFFICIENT IN TERMS OF COST-PER-VIEWER
-CONTROLLABLE, REPEATABLE, DELIVERS SAME MESSAGE EVERY TIME
-NOT LIMITED BY GEOGRAPHY
-CAN MOVE POEPLE EMOTIONALLY BECAUSE OF FILM STYLE, MUSIC, AND OTHER PRODUCTION FACTORS
DISADVANTAGES OF ADVERTISING:
-HIGH OVERALL COST
-IMPERSONAL, NO INSTANT FEEDBACK, NO PERSONAL FACE-TO-FACE CONNECTION
TELEVISION
-REACHES MANY PEOPLE
-LOST COST PER VIEWER
-EMOTIONAL IMPACT
-HIGH TOTAL COST
-LONG LEAD TIME
RADIO
-HIGHLY MOBILE
-RELATIVELY LOW COST
-SHORT LEAD TIME
-LIMITED TO AUDIO
-STRONG POTENTIAL FOR INTERFERENCE FROM OTHER SOURCES
OUTDOOR
-LOW COST
-HIGH VISIBILITY
-SHORT LEAD TIME
-INCREASINGLY REGULATED
-LENGTH IS LIMITED
-INTERFERENCE
DIRECT MAIL
-EASY TO MEASURE EFFECTIVENESS
-STIMULATES ACTION
-HIDDEN FROM COMPETITION
-"JUNK MAIL"
-EXPENSIVE
MAGAZINES
-LONG LIFE SPAN
-CAN CARRY RESPONSE CARDS OR CUPONS
-HIGH PASS-ALONG RATE
-HIGH LOST
-LONG LEAD TIME
NEWSPAPERS
-SHORT LEAD TIME
-CARRY CUPONS
-LARGE CIRCULATIONS
-LOW PRINT QUALITY
-SHORT LIFE
-LIMITED SEGMENTATION
INTERNET
-HIGHLY TARGETED
-INSTANTLY MEASUREABLE
- INTERACTIVE
-COMPETITION, HIGH CLUTTER
-SECURITY AND PRIVACY CONCERNS
3. SALES PROMOTIONS
STIMULATION OF SALES ACHIEVED THROUGH CONTESTS, DEMONSTRATIONS, DISCOUNTS, EXHIBITIONS OR TRADE SHOWS, GAMES, GIVEAWAYS, POINT-OF-SALE DISPLAYS AND MERCHANDISING, SPECIAL OFFERS, AND SIMILAR .
- INSTITUTIONAL - UNLIKE PRODUCT PROMOTION, INSTITUTIONAL (OR CORPORATE) PROMOTION DOES NOT ATTEMPT TO SELL A GOOD OR SERVICE. THE PRIMARY GOAL OFCORPORATE PROMOTION IS TO CREATE A CERTAIN IMAGE OF THE COM-PANY IN THE CUSTOMERS’ EYES
- PROMOTIONAL - THE SPECIFIC GOAL OF PRODUCT PROMOTION IS TO PERSUADE CUSTOMERS TO BUY A PARTICULAR GOOD OR SERVICE
4. PERSONAL SELLING
FACE-TO-FACE SELLING IN WHICH A SELLER ATTEMPTS TO PERSUADE A BUYER TO MAKE A PURCHASE. ONE ON ONE COMMUNCATION.
STEPS OF THE SALE
1. PREPARE FOR THE SALE
2. APPROACH
3. DETERMINE NEEDS
4. PRESENT THE PRODUCT
5. HANDLE ANY OBJECTIONS
6. CLOSE THE SALE
7. SUGGESTION SELL
8. FOLLOW UP
OF ADVERTISING AND PROMOTION
OF 1 Explain the concept of branding
OF 2 Explain the use of proposals, promotional plans, and business plans
OF 3 Explain the role of promotion as a marketing function
OF 4 Explain the types of advertising (e.g. radio, television, direct mail, outdoor, newspaper, Internet, social media)
OF 5 Identify the advantages and disadvantages of each type of advertising
OF 6 Identify the elements of the promotional mix (i.e., advertising, publicity, sales promotion, personal selling)
OF 7 Explain components of advertisements (e.g., headline, copy, illustration, price, signature, logo)