Marketing Plans Created By Memory Reed

Promoting Your Products ·Promotion – communicating with a customer through advertising, publicity, sales promotion, or personal selling ·Promotion is directly linked to a company’s image ·Image – how a company wants the public to see it

Focusing The Ads  You must decide who will be the targeted customer  Marketing research provides information about the target group  Demographics provide data about the targeted group

Focusing The Ads  People born after 1979 form a demographic group called the Millennial  Millennial are named because they will come of age in the 21 st century  There are 70.2 million millennial – more than the baby boomers at their peak

Focusing The Ads  They will attract much attention because of the size of the potential market  This group is also a more culturally diverse and ethnically diverse group than the baby boomers  The millennial will be the focus of marketing throughout their life time  The millennial will challenge marketing decisions with their diversity

Media Choices ·After you decide your audience: ·Design your message and determine the media you will use to deliver it to your customer ·The most common media are: ·The internet ·Print (newspapers, magazines, billboards) ·Broadcast (television and radio)

The Ratings ·Program ratings drive the price the ads can bring ·If a show ends up with a lower rating than anticipated, the channel provides other advertising time in other time slots

The Ratings ·Disney signed a 600 million deal with the national hockey league ·They did this despite low ratings because hockey draws the highest concentration of young upscale viewers than any other television sport

The Ratings ·Disney hopes to draw advertisers to this group who will help pay for the cost of the time committed to by Disney

The Rest Of Promotion ·Although advertising plays a major role in promotion there are other categories of marketing needed to finish the job ·These are: publicity, sales promotion, and personal selling ·All four categories team together into a promotional mix tailored to the item being promoted

Publicity ·Sponsoring an event and getting a company’s name in front of the public is a method of promotion called publicity. ·The sponsors of an event count on getting positive publicity from the event

Sales Promotion ·Any action or communication that encourages a consumer to buy a product ·An example is when a baseball team gives away baseball caps to each child attending the game with an adult. ·The giveaway is a direct incentive for the adult to purchase at least 2 tickets to the game ·Sales promotion items are also referred to as specialty advertising items

Personal Selling ·An in person face to face communication between a seller and a customer ·Corporations are major clients for sports events frequently buying hugh blocks of tickets or permanently leasing special luxury seating

Marketing Research ·Mass marketing – strategies for reaching broad groups of people ·Market research – the process of determining what customers want ·There are 5 steps in the scientific method of marketing research

The Scientific Method Of Marketing Research 1)Define the problem 2)Analyze the situation 3)Develop the process for collecting data 4)Collect, organize, and analyze the data 5)Determine a solution to the problem

Data Mining ·Digging up the data needed to make decisions