5.03 Coordinate Promotional Efforts SEM II

Consider the Audience Implementation of the push or pull strategies will depend on the identified target market Push strategies – used by a manufacturer to convince or “push” retailers to carry and promote products in their retail establishments. Relies heavily on personal selling and sales promotion Pull Strategies are directed towards customers to increase their interest and demand for products. Customers will “pull” or convince retailers to carry the products. Relies heavily on advertising.

Consider the Audience (Continued) Primary target markets are the core group of consumers on which promotional efforts are focused. Secondary target markets are consumers who occasionally purchase the product because of one identifying factor. Audience includes: Influencers Decision-makers Followers Purchasers

Identify objectives Inform consumers of the product Persuade the consumers to purchase the product Remind the consumers of the availability and benefits of the purchase

Discuss the promotional mix Should be interdependent and utilize several promotional tools Marketers should consider the following when selecting promotional tools: Product life cycles Consumer segmentation Current market characteristics Consumer decision-making process Needs to be reviewed to ensure companies are reaching their intended audience

Methods of designing the promotional budget Budget allotments Determine current budget as a stand- alone budget, aside from the entire organization’s budget Budget from previous year and future issues are not taken into consideration Imitation on competitors Budget is set up to mimic competitors

Methods of designing the promotional budget (continued) Proportion of revenue Allocation of budget based o percentage figures Activity-based cost method Set objectives, determine the costs and work within them

Develop a Media Strategy Media is selected based on target market Advertisers must look for creative ways to reach their audience and uniquely position their product due to advertising clutter Venue advertising has increased as changes in technology allow for frequent changes to signage and sponsors

Develop a Media Strategy (continued) Product demonstrations and on-site displays are growing in popularity Usually set up as pre-event entertainment Internet offers new and innovative ways to promote products Hospitality