promotional mix
misc
misc
misc
100

what are the elements of the promotional mix? and identify the level of control and mass

Sales promotion (addresses the mass- mid- and mid level of control) 

advertising (addresses the mass and mid- low level of control) 

public relations(addresses the mass and no level of control) 

 personal selling; relies on salespeople; mainly b2b (customized to consumer and high level of control)

 direct marketing; relies on data (customized to consumer and high level of control)

100

what are the steps of the product lifecycle? and what are their purposes

  • Introduction- to inform; publicity in magazines, advertising, sale promotion with free samples
  • Growth- to persuade; personal selling, advertising to differentiate
  • Maturity- to remind; reminder advertising, sales promotion, direct mail reminders
  • Decline- phase out; little money spent on promotion
100

what are the steps of the promotion decision process 

  • planning, implementation, evaluation
100

Objective and task budgeting

the most effective approach; allocating fund to promotion after a company (1) determines its promotion objectives (2) outlines the tasks to accomplish the objectives and (3) determines the promotion cost of performing those objectives

200

any paid form of nonpersonal communication about an organization, product or service by an identified sponsor

advertising

200

what elements of product characteristics should you consider?

 you should consider the complexity (the amount of understanding required to use the product); the more complex- the more personal selling required, risk (financial, social and physical) and ancillary services (the degree of service or support required after the sale)

200

what is direct marketing

direct communication with the customer to generate a measurable response (buying data to target the right people) examples include telemarketing, catalogues, emails, DMs

200

direct order

  • aspect of direct marketing; contains all the information necessary for a prospective buyer to make a decision to purchase and complete the transaction... for example: on Zappos website they ask the customer to create a wishlist of favorite brands and then sends them a link to make the purchase... so just directly requesting information to drive customer purchase 
300

two way flow of communication between a buyer and seller, often face to face, designed to influence the purchase decision

personal selling

300

what are the stages of the consumer journey?

Prepurchase (sales promotion like sampling and advertising to gain awareness), Purchase (personal selling most important and advertising not; sales promotion for displays to encourage purchase, direct marketing using data, social media) and Post purchase stage (reminder advertising)

300

Percentage of sales budgeting

funds are allocated to promotion as a percentage of past or anticipated sales “our promotion budget for this year is 3% of last years total sales” 

  • Issue: ties sales to promotion
300

lead generation

  • aspect of direct marketing; designed to generate interest in a product and a request for additional information...four seasons residency example
400

builds credibility; a form of communication management that seeks to influence the opinions held by customers; non paid

public relations

400

explain push strategy

directing the promotion mix to channel members to gain their cooperation in ordering and stocking the product

400

Competitive Parity Budgeting

  • allocating funds to promotion by matching the competitors absolute level of spending or the proportion per point of market share
400

Traffic generation

aspect of direct marketing; offer designed to motivate people to visit a business... opt-in email alerts, direct mail

500

short term inducement of value offered to arouse interest in buying a product or service

sales promotion

500

explain pull strategy

directing the promotion mix at the ultimate consumer to encourage them to ask the retailer for a product

500

All you can afford budgeting

  • common in small business; allocating funds to promotion only after all other budget items are covered
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