Promotional Tactics
Define the tactic: Competitive
Forming marketing plans to analyze competitors’ efforts to gain advantage.
1. How many theories did we cover in today's lesson?
2. What are the names of the theories?
1. 3 theories
2. Staffing Function of Management Theory, Systems Theory of Management, and Bureaucratic Theory of Management.
Defind the type of market segmentation: Geographic
Is segmenting a market based on where customers live
(based on physical location, which is useful for businesses with brick-and-mortar stores or regional product differences. Variables include country, region, city, climate, and population density.)
What is paid media and the practice of creating and distributing messages to attract public attention to a product?
Advertising!
What did the monkey say on slide 10?
Ragebaited
Define the tactic: Guerilla
Low-cost advertising strategy using unconventional tactics to generate brand awareness.
What is a con of the Bureaucratic Theory of Management?
Weaknesses: slow to adapt due to rigidity, no creativity, hierarchical bottlenecks, resistance to change.
Divides a market by the relationships between customers and the goods or services
( Focuses on consumers' actions and patterns, particularly in relation to a specific product or brand. Variables include purchase history, spending habits, brand loyalty, user status, and benefits sought)
What is the name of the strategy where businesses communicate directly with targeted consumers without relying on intermediaries like mass media?
Direct Marketing
How old is the game jeopardy?
(within 5 years)
59 years old
Define the tactic: Institutional
Build long-term reputation and brand image instead of focusing on sale.
What is a pro and a con of Staffing Function of Management Theory?
Weaknesses: reactive hiring, high turnover, poor time management.
Strengths: motivated employees, optimized resource usage, and adapt to change.
What type of market segmentation is this: Is dividing the market of potential customers by their personal statistics
(which categorizes customers based on objective, statistical data. Variables include age, gender, income, education, occupation, marital status, and family size.)
Demographic
What is the direct, human-to-human communication between a salesperson and a potential buyer, aimed at persuading the buyer to make a purchase?
Personal Selling
What is another name for the season autumn/fall?
Harvest season!
Define the tactic: Product
A product promotional tactic is a specific strategy to persuade customers to buy a product, by offering a discount, sponsoring a contest, using social media, or collaborating with an influencer.
What are the 3 sub-systems of the Systems Theory of Mangement?
The sub-systems: inputs, transformation processes, and outputs
Psychographic
Is dividing the market by certain preferences or lifestyle choices
(Variables include lifestyle, personality, values, interests, and opinions. This helps explain why customers buy certain products.)
What is an example of Sales Promotion?
An example of sales promotion is a "Buy One, Get One Free" (BOGO) offer.
What's are the type of media had the MASSIVE meme on them?
Broadcast