Advanced Marketing

Promotion Defined: Communication used to inform, persuade, or educate a target market about a product/service or business.

Promotional Mix Strategies used to promote product or service; The promotional mix is used in the promotion plan Advertising Selling Sales Promotion Publicity/Public Relations

What is a Promotion Plan? Vital Part of Marketing Plan Road-map of promotion activities Coordinates all elements of promotion to support overall promotional and marketing objectives

Promotional Plan A Vital Part of the Marketing Plan PromotionPlan.Chart.Adv.Mktg..docx

Purpose of the Promotion Plan Outline marketing and sales objectives Provide easy “roadmap” to market product Gives focus and direction to marketing efforts Coordinates all promotional activities A vital part of the overall marketing plan

Components of Promotion Plan Objective(s) Theme Media Personnel Timing Implementation Evaluation

McDonalds: “Lovin’ It” campaign lovin-it-campaign lovin-it-campaign Assignment: Student work with a partner; using the Internet, read the article featured in the above. Click on the active links to view the ads.

Apply Promotion Plan ADVERTISINGSALES PROMOTION SELLINGPUBLIC RELATIONS/ PUBLICITY Theme Objective Media Personnel Timing Implementation Evaluation Contests Events Coupons Give-Aways/ Free Samples Print Broadcast Billboards Social Media/Internet Trained sales for business-to-business Trained sales for business to consumer Human expenditure Press Releases to media Focused efforts to communicate positive image Topics of interest to public

Internal vs. External Promotion Plan for both internal and external promotion

Internal Marketing of Products Internal Marketing- marketing or promoting the product WITHIN the business Purpose: Interact with employees to build product awareness Build product knowledge Create team atmosphere and common goal for product sales Ensure customer inquiries are consistently addressed correctly

Example: The Falcons’ Nest Customer Inquiry: What is the new “spirit jersey” product that I saw advertised in the winter sale flyer? How would you answer this question? (Students take a few minutes to answer) Comparison of responses

The Correct Response: The spirit jersey is a shirt that has become very popular across college campuses The shirt is purchased by mostly women and has become very popular with sororities The shirt is styled like a replica football jersey Oversized; large lettering on the back of the shirt that extends across the shoulders Our spirit jersey is navy blue with Briar Woods print across the back in white print It’s 100% cotton and is VERY comfortable!

External Promotion External promotion involves marketing and promoting the product OUTSIDE of the company to prospective customers Purpose: Generate product sales Enhance public image of product or company Generate publicity External promotion can be business to business or business to consumer

Methods of Promotion Trade shows ( Also Called Trade Shows, Trade Exhibitions or Expos) Allowances Consumer promotions

Trade Shows Defined: Exhibition organized so that companies may showcase their products/services Business to Business Trade Show Business to Consumer Trade Show

Business to Business Trade Show Grind Master Corporation Exhibits at Trade Show

Example: Grind Master Makes products for food and beverage service industry Products include: coffee grinders; coffee and tea brewers; ovens; griddles; food warmers, and many more Primary customers are business to business such as Restaurants, cafeterias, corporate offices

Example of “Sell Sheet” Used for Internal and External Marketing

Business to Consumer Trade Shows The Washington Auto Show premiers newest cars to consumers

Business to Consumer Trade Shows Vendors showcase latest offerings to consumers Promotes the business and products Provides detailed product information and leads consumers towards purchasing decisions Enables businesses to meet potential customers Face to face conversations with potential customers Gather feedback and conduct market research Typically an entrance fee

Assignment - 50 Points Students work with a partner Visit the website for the Washington Auto Show info/exhibitor-listing/ Identify the following: Name of Trade Show Date, Location, and Times Open Cost Exhibitors (name 3) Sponsors (name 3) How Are Different Promotional Elements Applied to this Show (Example of how exhibitors may use Sales Promotion; Selling; Advertising; How Can the Exhibitors Gain Marketing Research from this event?

Promotional Allowances Reduction of the wholesale price for the retailer Given my manufacturers to retailers to compensate the retailer for promoting the product or line

Consumer Promotions Coupons Premiums Deals Incentives Product Samples Sponsorship Promotional Tie-Ins Placement Loyalty Marketing Programs Point of Purchase Displays

Class Assignment Students will work individually or with a partner to develop a consumer promotion for The Falcons’ Nest. Each group/individual will prepare a PPT presentation that explains the definition and application of their selected form of consumer promotion Also, within the PPT presentation, students a) will apply this consumer promotion to The Falcons’ Nest b) outline their recommendation and explain how this promotion will increase sales revenue for the store c) Provide prototype of the promotion (if applicable- such as coupon; sales promotion ad, etc.) d) Provide detailed plan for implementation