PROMOTION AND PROMOTIONAL MIX

DEFINITION OF PROMOTION Communication used to inform, persuade and educate prospective customers about a product, service or company.

PROMOTION Persuasive communication Inform prospective customers about products and services Enhance public image and reputation Enhance image of product or service as valuable Educate public about an issue or trend (mostly used by non-profits)

TYPES OF PROMOTION PRODUCT INSTITUTIONAL

PRODUCT PROMOTION Convince customers to buy a product or service instead of the competitor brand Promotional activities explain the major features and benefits of the product or service Identify where it is sold, advertise sales, answer customer questions Introduce new offerings Helps companies foster good relationships with existing customers and increase loyalty

INSTITUTIONAL PROMOTION Activities and advertising that creates a positive image of a company or product Product features and benefits are NOT used in this form of promotion Examples: Holiday Budweiser commercial Sponsorship of charity events- Komen for the Cure

PROMOTIONAL MIX Strategy used by companies to inform and persuade a target market “Any combination of Advertising, Selling, Publicity, and Sales Promotion”

PROMOTIONAL MIX ADVERTISING SELLING PUBLICITY SALES PROMOTION

ADVERTISING Paid communication One-way communication Broadcast (TV, Internet, Radio) Print (Newspaper, Magazines, Direct Mail) Outdoor (Billboards, Marquis) Transit (Busses) Social Media

SELLING Face-to-face interaction with customer Persuasive approach – educate and inform about the product/service The goal is to lead the customer to a correct buying decision for their needs Business-to-business selling Business-to-consumer selling

PUBLICITY and PUBLIC RELATIONS Activities that influence a target audience Creates a favorable image for the company, it’s products, or policies Cultivate media relations IMAGE! Chrysler Eminem Super Bowl Commercial - Imported From Detroit: http://www.youtube.com/watch?v=SKL254Y_jtc

SALES PROMOTION All marketing activities other than Advertising Selling Publicity/PR Activities that drive product sales Examples: Coupons, contests, raffles, special events