Lecture 27

Chapter 13 Promoting Products

Chapter Outline Importance Of Promotion Advertising Promotions Personal Selling Sales Promotions Publicity & Public Relations Promotional Practices In Small Business International Promotional Strategies

Advertising Promotional Tool Consisting Of Paid, Non-Personal Communication Used By An Identified Sponsor To Inform An Audience About A Product.

Advertising Strategies Depends upon product lifecycle Persuasive Stress Quality Influence consumers to buy a company’s product rather than the rivals Comparative Maturity Stage Two ore more products are directly compared Goal is to take sales from competition Reminder Decline Stage Keeps products names in consumer minds

Advertising Media Television Direct Mail Newspapers Magazines Radio Outdoor Internet Data Mining & Warehousing Virtual Media Mix

Media Mix By Industry

Advertising Campaign ID Target Set Budget Define Objectives Create Message ID Media Evaluate

Personal Selling Personal Selling Telemarketing Situations Retail Industrial

Sales Force Management Top Management- Sets Goals Salespeople- Set Realistic Objectives Organize Sales Force To Meet Goals Implement/Evaluate Success Of Overall Sales Plan

Personal Selling Tasks Order Processing Receives an order and sees to its handling and delivery Creative Selling Missionary Selling Promote company and the product rather than make sale

Personal Selling Process Follow-Up Approach Prospect & Qualify Present Closing Handle Objections

Sales Promotion Important because enhance recognition, increase sales and motivates the customer to try Coupons Point-Of-Purchase Purchasing Incentives Trade Shows Contests

Sales Promotion Coupons Point-Of-Purchase Purchasing Incentives Certificates entitling bearers to savings off regular prices Point-Of-Purchase Located at the end of aisles or at checkout counters Easier to find product and eliminate competition Purchasing Incentives Free samples or premium (free or reduced price items) Trade Shows Companies have booth in which they display products Contests

Publicity & PR Publicity Public Relations Free Little Control Company-Influenced Create Goodwill

Small Business Advertising Internet Non-Prime Time Yellow Pages Direct Mail Targeted Magazine Ads

Small Business Personal Selling Sales Force Sales Agencies Telemarketing

Global Advertising Product Variations Language Differences Cultural Receptiveness Image Differences