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Promotional Strategies Developing a Promotional Mix

Promotional Strategies Developing a Promotional Mix

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Page 1: Promotional Strategies Developing a Promotional Mix

Promotional Strategies

Developing a Promotional Mix

Page 2: Promotional Strategies Developing a Promotional Mix

Know these key terms

Image Publicity News Releases Public Relations Pre-selling PremiumsCampaign RebatesSweepstakes Industry AveragesPromotional Mix Cooperative Advertising Advertising AgenciesSpecialty Items Consumer Pre-testsIncentives to buy Prime TimeMedia or Median Push PolicyPull Policy Slotting AllowanceIncentives Promotional Tie-insCommunity Relations Press Kits

Page 3: Promotional Strategies Developing a Promotional Mix

The media is used to deliver communication with a Target

Market

This is known as Mass Marketing

Page 4: Promotional Strategies Developing a Promotional Mix

Media is the plural form of Median

TV & Radio are Broadcast media, Newspapers, Direct Mail and Magazines are print media, Billboards and posters are outdoor media.

Page 5: Promotional Strategies Developing a Promotional Mix

A Promotional Mix is:

Advertising, Public Relations, Personal Selling, Internet Marketing or any other Promotional activity directed at a Target Market (TM).

Page 6: Promotional Strategies Developing a Promotional Mix

When selecting a promotional mix, businesses should consider:

The target market, type of business, cost, product value, and time frames.

Page 7: Promotional Strategies Developing a Promotional Mix

A Campaign is

A series of promotional activities with one particular theme.

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Pre-selling

Is promotional activity before consumers make a decision.

Page 9: Promotional Strategies Developing a Promotional Mix

Pre-selling

Is selling with Public Relations, Publicity and Advertising, using couponing, low prices, rebates, sweepstakes, specialty items or any giveaways, for customers, creating “incentives to buy” .

Page 10: Promotional Strategies Developing a Promotional Mix

Industry Averages

% of advertising and promotion used in a particular industry can be a method of determining an advertising budget.

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Image

Ideas, beliefs and impressions, (feelings) that people have regarding a business or product.

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Consumer Pre-tests

Businesses pre-view advertising to consumers before running an ad

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Advertising is

A paid form of communication through a median.

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Agencies, advertising / public relations

Charge by fee or charge a % of ad $ placed.

Standard advertising commission is 15%. Public relation firms usually charge a fee on how many news articles or broadcasts were created. Some businesses choose an in-house approach by doing their own advertising or public relations.

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Cooperative Advertising

Advertising money supplied by manufacturers so that retailers can promote that producer’s products.

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Cooperative Advertising

Often, retailers pay for very little advertising. Cooperative advertising pays for large portions of retailer’s advertising costs.

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Prime Time

Refers to broadcast time, TV & Radio, when there are usually the most viewers or listeners, TV: 8pm-10pm, Radio: 4pm-6pm (drive time) . Used in advertising as the most expensive advertising slots

Page 18: Promotional Strategies Developing a Promotional Mix

Public Relations is

Unpaid promotional activities in an effort to create a positive image and goodwill.

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Public Relations deals with:

a variety of publics in which the media is the mass communications vehicle. These publics include: Customers, Employees, Stockholders & the Community. Each want to know how the business is doing, but have different interests in the business.

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Publicity is:

Placement of news releases in the media in an effort to create a favorable image. 60-80% of all news is created by PR people.

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News releases are

Articles created by publicity or public relations people sent to the media, often accompanied by a Press Kit

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Press Kits are:

Photos, articles, other news releases & small gifts that make it all memorable. Press Kits provide information regarding an event, product, person or the company.

Page 23: Promotional Strategies Developing a Promotional Mix

Sweepstakes are:

Games and contests in an effort to promote attention about a business or product.

Page 24: Promotional Strategies Developing a Promotional Mix

Rebates are:

Monetary incentives, after a purchase, sent to a customer, returning part of the price.

Page 25: Promotional Strategies Developing a Promotional Mix

Specialty Items are:

Items such as coffee cups, pens and t-shirts displaying a company logo, telephone # or address. This promotional business is sometimes called the Trinkets and Trash Trade.

Page 26: Promotional Strategies Developing a Promotional Mix

Push or Pull Strategies

A push strategy uses a mix of personal selling, discounts to wholesales and retailers (Pushing, selling, products onto those businesses.

Page 27: Promotional Strategies Developing a Promotional Mix

Push or Pull Strategies

A Pull Strategy coupons and advertises to consumers, so that customers ask retailers to carry products. Most good marketers us a blend of Push and Pull.

Page 28: Promotional Strategies Developing a Promotional Mix

Slotting Allowances (Fees) are:

paid by producers to retailers for the costs associated with placing the product on the retailer’s shelf. The retailers believe this should be an advertising cost.

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Promotional Tie-ins

Are arrangements between two or more producers that create mutual benefit. An example of this might be a agreement between, Disney Movie Studios, Fisher-Price Toy company and McDonalds. Disney created a movie, Fisher-Price creates a miniature toy and McDonalds distributes this toy with Happy Meals.

Page 30: Promotional Strategies Developing a Promotional Mix

Premiums are

Additions to a sale or a product. These can be coupons, services or gifts: designed to attract new customers or to build loyalty among existing customers.