APTE 6205 Technology & Society Marketing Strategy for an Emerging Technology Lecture 2

Promotional Marketing  Promotion is the key tool used to deliver information about a product or service to consumers and the public at large.  Deciding on a marketing communicable strategy constitutes as the first level in developing a promotional strategy.

Marketing Materials  much marketing activity is generally online today in keeping with innovative communication technology  to create the most effective marketing strategy, you need a mix of digital and print materials.  experts have predicted a paperless office  many people still want to see things in print--- offline marketing materials. 

Marketing & Promotional Strategy 1 Marketing is the choice of a target market and the most appropriate promotional mix to influence it.  The promotional strategy can be to target the heads of the household as they had the final say on where the disposable income would be spent.  Part of what the marketing department does is determine the best promotional strategy to employ in a given customer demographic

Marketing & Promotional Strategy 2  Cash in on Client Loyalty – develop & cultivate trust in you & your product Lead Offer Sale Delivery Loyalty

Marketing & Promotional Strategy 2 Client Development Tools UP – SELL Up-sell is a marketing term for the practice of suggesting higher priced products or services to a customer who is considering a purchase. Offer an extra to complement the product or service The most common example of up-sell is the fast food phrase: "Would you like to super-size that?"

Marketing & Promotional Strategy 2 Client Development Tools DOWN SELL This technique is used when the customer, for some reason, decides to back down from the purchase. You can offer him a cheaper product, which has higher chances of being accepted. The goal here is to acquire a customer, even if you will not profit as much as possible right away.

Marketing & Promotional Strategy 2 Client Development Tools CROSS SELL This technique involves selling new products or services to the customer that are not related to the first one the customer purchased. Example: Suppose you sell web design services. Many clients will not know how to promote or search engine optimize their websites, so you could cross-sell these consulting services (either by providing them yourself, or by creating a partnership with a company that will provide them for you).

Partnerships  A partnership is a legal arrangement where two or more people own a business together.  The entire business is shared for as long as the business exists.  Both partners contribute money, time and expertise to making a profitable enterprise, and that enterprise lasts until the partnership is dissolved

Partnerships  As a small-business owner, you may need to take on a partner.  If you need a cash infusion,  If you have a new product or service you want to develop. The choice you make between forming a partnership affects the way you do business long-term or short-term. You need to examine the implications.

Joint Ventures  A joint venture can be for a specific project.  There is a time limit on joint ventures, and they have clearly stated limits on their purposes.  You might enter a joint venture in order to make a product that neither partner can afford to make on their own- such as developing new software.  You do not give up half of your business in a joint venture  You share the profits and expenses for a particular project

Financial Projections  a forecast of future revenues and expenses for a business based on your marketing plan  a financial projection that takes into account both internal information as well as historical income and costing  it includes estimates of the development of external market factors  it also includes estimated figures of general finances in addition to projections  estimates of the future financial performance of a business