- •Definitions and history of Marketing
- •2.Marketing concepts
- •3. Selling Concept
- •4.External marketing environment
- •5.Macro environment
- •8. Market system
- •9.Demand Curve
- •10.Customers Behaviour
- •11.Custom Loyalty
- •12.Swot Analysis
- •13.Pestel Analysis
- •14.Marketing mix 4s
- •15.Markeing Mix 7Ps
- •16.Marketing mix Product
- •17.Branding
- •18.Promotion!
- •Introduction
- •21. Scheme of Marketing Research
- •Identification,
- •22. Questionary desighn
- •23. Segmentation Process:
- •27. Marketing Information System
- •28. Marketing Plan
- •29. Marketing control
18.Promotion!
The purpose of promotion is to create awareness in consumers or generate interest and desire to buy products. Promotion can also be used to create or change a brand image and maintain market share.
Promotion - communicating information between the seller and potential buyer
Promotion’s main job is to tell target customers that the right Product is at the right Place
Categories Of Promotion
Product promotion – tries to convince customers to buy its products over competitors
Institutional promotion – create a favorable image for a business
Types Of Promotion
Advertising
Personal Selling
Publicity/Public Relations
Sales Promotion
Direct Marketing
Personal Selling
Involves direct contact with prospects and customers
Very costly due to salaries paid
Telemarketing
Personal meetings
Email/Phone contact
Publicity/Public Relations
Publicity – any unpaid form of non-personal presentation of ideas, goods, or services.
News worthy events
Press releases
Talk shows
Can be unintentional
Public Relations – company created campaigns to influence a target audience
Sales Promotion
Activities other than selling, advertising, and publicity to stimulate interest, trial, or purchase
Can be aimed at final consumers, middlemen, or company sales force
Promotion through the Product life
As products move through the four stages of the
product lifecycle different promotional strategies
should be employed at these stages to ensure the
healthy success and life of the product .
Introduction
When a product is new the organisations objective will be to inform the target audience of its entry. Television, radio, magazine, coupons etc may be used to push the product through the introduction stage of the lifecycle. Push and Pull Strategies will be used at this crucial stage.
Growth
As the product becomes accepted by the target market the organisation at this stage of the lifecycle the organisation works on the strategy of further increasing brand awareness to encourage loyalty.
Maturity
At this stage with increased competition the organisation take persuasive tactics to encourage the consumers to purchase their product over their rivals. Any differential advantage will be clearly communicated to the target audience to inform of their benefit over their competitors.
Decline
As the product reaches the decline stage the organisation will use the strategy of reminding people of the product to slow the inevitable
Questions need to be considered (with the promotion mix):
What are we trying to achieve?
How might we achieve it?
How much will we need to spend?
Where will we need to spend it?
When will we need to spend it?
What creative appeal is most likely to work?
How can we best measure the results, feed these back into the decision making process, and improve strategy?
Types of promotion
Advertising: Any non personal paid form of communication using any form of mass media.
Public relations: Involves developing positive relationships with the organisation media public. The art of good public relations is not only to obtain favorable publicity within the media, but it is also involves being able to handle successfully negative attention.
Sales promotion: Commonly used to obtain an increase in sales short term. Could involve using money off coupons or special offers.
Personal selling: Selling a product service one to one
Direct Mail: Is the sending of publicity material to a named person within an organisation
Direct mail allows an organisation to use their resources more effectively by allowing them to send publicity material to a named person within their target segment. By personalizing advertising, response rates increase thus increasing the chance of improving sales. Listed below are links to organisation who's business involves direct mail.
Internet Marketing: Promoting and selling your services online using various forms of online marketing techniques such as banner advertisements, videos or social media.
19. ATl&BTL!
above-the-line activities
paid-for advertising in newspapers and magazines.
product placements in a range of publications are used to promote the different brands
TV and radio advertising. Radio advertising in particular allows to target its key audience quickly and in a way that young people find relevant
Advertising through Billboards
Below-the-line promotions offer opportunities to communicate directly with the consumer
E-mail helps to regularly contact its database of consumers with promotions and product information. Magazines and leaflets present product and lifestyle content.
Sales incentives, promotions and competitions generate excitement and interest in the brand.
20. Marketing mix
People– all people who directly or indirectly influence the perceived value of the product or service, including knowledge workers, employees, management and consumers.
People is one of the elements of service marketing mix. People define a service. If you have an IT company, your software engineers define you. If you have a restaurant, your chef and service staff defines you. If you are into banking, employees in your branch and their behavior towards customers defines you. In case of service marketing, people can make or break an organization. Thus many companies nowadays are involved into specially getting their staff trained in interpersonal skills and customer service with a focus towards customer satisfaction. In fact many companies have to undergo accreditation to show that their staff is better than the rest.
Process – procedures, mechanisms and flow of activities which lead to an exchange of value.
Service process is the way in which a service is delivered to the end customer. Lets take the example of two very good companies – Mcdonalds and Fedex. Both the companies thrive on their quick service and the reason they can do that is their confidence on their processes. On top of it, the demand of these services is such that they have to deliver optimally without a loss in quality. Thus the process of a service company in delivering its product is of utmost importance. It is also a critical component in the service blueprint, wherein before establishing the service, the company defines exactly what should be the process of the service product reaching the end customer.
Physical Evidence
The direct sensory experience of a product or service that allows a customer to measure whether he has received value.
Examples might include the way a customer is treated by a staff member, or the length of time a customer has to wait, or a cover letter from an insurance company, or the environment in which a product or service is delivered.
There are many examples of physical evidence, including some of the following:
Packaging.
Internet/web pages.
Paperwork (such as invoices, tickets and despatch notes).
Brochures.
Furnishings.
Signage (such as those on aircraft and vehicles).
Uniforms.
Business cards.
The building itself (such as prestigious offices or scenic headquarters).
The last element in the service marketing mix is a very important element. As said before, services are intangible in nature. However, to create a better customer experience tangible elements are also delivered with the service. Take an example of a restaurant which has only chairs and tables and good food, or a restaurant which has ambient lighting, nice music along with good seating arrangement and this also serves good food. Which one will you prefer? The one with the nice ambience. That’s physical evidence. Several times, physical evidence is used as a differentiator in service marketing. Imagine a private hospital and a government hospital. A private hospital will have plush offices and well dressed staff. Same cannot be said for a government hospital. Thus physical evidence acts as a differentiator.