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MKTG 504 - Promotion and Communication “Are you looking for a 25’’ color TV MKTG 504 - Promotion and Communication “Are you looking for a 25’’ color TV for $275? Here it is. ” Dr. Dennis Pitta University of Baltimore

PROMOTION Promotion = Communication which INFORM potential consumers and PERSUADE them of the WANT PROMOTION Promotion = Communication which INFORM potential consumers and PERSUADE them of the WANT SATISFYING benefits of products and services.

THE COMMUNICATION PROCESS Involves: z. Sender ( the advertiser) z. Message z. Medium z. THE COMMUNICATION PROCESS Involves: z. Sender ( the advertiser) z. Message z. Medium z. Audience and maybe z. Feedback

Marketing Communications Should start with an audience - the consumer! Marketing Communications Should start with an audience - the consumer!

PROMOTION MIX - DESCRIPTION - - NAME - Paid Nonpersonal Advertising Paid Personal Selling PROMOTION MIX - DESCRIPTION - - NAME - Paid Nonpersonal Advertising Paid Personal Selling Nonpaid Nonpersonal Publicity Nonpaid Personal Word of Mouth ________________________P lus Everything Else Sales Promotion

PROMOTION MIX CHARACTERISTICS Sales Promotion MODERATE HIGH PROMOTION MIX CHARACTERISTICS Sales Promotion MODERATE HIGH

ADVERTISING Any PAID form of NONPERSONAL presentation and promotion of ideas, goods, and/or services ADVERTISING Any PAID form of NONPERSONAL presentation and promotion of ideas, goods, and/or services by an IDENTIFIED SPONSER. Examples: Let Your Fingers Do the Walking; Mc. Donalds’. . .

PERSONAL SELLING DIRECT INTERACTION between parties - an oral presentation in conversation with one PERSONAL SELLING DIRECT INTERACTION between parties - an oral presentation in conversation with one individual acting as a ‘selling agent’. Example: Avon Representatives, Checkout person, you in an interview.

PUBLICITY Any form of commercially significant news about an organization, good, service, idea that PUBLICITY Any form of commercially significant news about an organization, good, service, idea that is published by a mass medium and that is NOT paid for by a sponsor. Examples: Ebert (without Siskel), gourmet critics. . .

PUBLIC RELATIONS: z. Publicity z. Institutional Advertising PUBLIC RELATIONS: z. Publicity z. Institutional Advertising

PUBLICITY: Traditional Media z. Radio z. TV z. Newspaper z. Magazines z. Organization Newsletters PUBLICITY: Traditional Media z. Radio z. TV z. Newspaper z. Magazines z. Organization Newsletters z. Events (e. g. , Holiday celebrations. . . ) z. . .

PUBLICITY: NEW MEDIA z. Internet Home Pages z. Internet Press Release Sources PUBLICITY: NEW MEDIA z. Internet Home Pages z. Internet Press Release Sources

WORD OF MOUTH (ADVERTISING) Any form of interaction between individuals in which, neither party WORD OF MOUTH (ADVERTISING) Any form of interaction between individuals in which, neither party represents a ‘seller’. Examples: a restaurant recommendation from a friend, a colleague’s evaluation of a movie, a neighbor’s statements about a university.

SALES PROMOTION Sales Promotion = The promotional technique which emphasizes: Coupons, Rebates, Premiums, Contests, SALES PROMOTION Sales Promotion = The promotional technique which emphasizes: Coupons, Rebates, Premiums, Contests, Sweepstakes, Trading Stamps, Free Gifts, Samples, Point of Purchase Promotions, Trade Shows. . .

Sales Promotion is The Group of Activities Which Aim At: z. STIMULATING CONSUMER PURCHASES Sales Promotion is The Group of Activities Which Aim At: z. STIMULATING CONSUMER PURCHASES z. ENHANCING DEALER EFFECTIVENESS z. INCREASING SALESPERSON EFFECTIVENESS

Choose the MIX of PROMOTIONAL methods to achieve communication objectives. Choose the MIX of PROMOTIONAL methods to achieve communication objectives.

ADVERTISING Major Decisions: HOW MUCH TO SPEND? ADVERTISE TO WHOM? WHAT TO SAY? WHEN ADVERTISING Major Decisions: HOW MUCH TO SPEND? ADVERTISE TO WHOM? WHAT TO SAY? WHEN (AND WHERE) TO SAY IT? HOW TO DETERMINE ITS EFFECTS?

BUDGETING FOR ADVERTISING FIVE METHODS z. ALL YOU CAN AFFORD* z% OF SALES* z. BUDGETING FOR ADVERTISING FIVE METHODS z. ALL YOU CAN AFFORD* z% OF SALES* z. UNITS OF SALES* z. COMPETITIVE PARITY* z. OBJECTIVE AND TASK METHOD*** * = STUPID *** = GREAT

OBJECTIVE AND TASK METHOD OF BUDGETING SET OBJECTIVES AND DETERMINE THE ADVERTISING TASKS ( OBJECTIVE AND TASK METHOD OF BUDGETING SET OBJECTIVES AND DETERMINE THE ADVERTISING TASKS ( THE HIERARCHY OF EFFECTS) NECESSARY TO ACHIEVE THEM

EXAMPLE OF ADVERTISING HIERACHY OF EFFECTS ACTION CONVICTION COMPREHENSION AWARENESS EXPOSURE EXAMPLE OF ADVERTISING HIERACHY OF EFFECTS ACTION CONVICTION COMPREHENSION AWARENESS EXPOSURE

EXAMPLE OF ADVERTISING OBJECTIVES ACTION CONVICTION COMPREHENSION AWARENESS EXPOSURE + + + 1% (the EXAMPLE OF ADVERTISING OBJECTIVES ACTION CONVICTION COMPREHENSION AWARENESS EXPOSURE + + + 1% (the goal) 11% 22% 56% 100%

EXAMPLE OF ADVERTISING OBJECTIVES used for budgeting ACTION CONVICTION COMPREHENSION AWARENESS $55, 000 EXPOSURE EXAMPLE OF ADVERTISING OBJECTIVES used for budgeting ACTION CONVICTION COMPREHENSION AWARENESS $55, 000 EXPOSURE + + + 1% 11% 22% 56% 100%

ADVERTISING TO WHOM? CHOOSING A TARGET AUDIENCE IS CRITICAL. MEDIA AFFECT THE ABILITY TO ADVERTISING TO WHOM? CHOOSING A TARGET AUDIENCE IS CRITICAL. MEDIA AFFECT THE ABILITY TO REACH MARKET. TV: MUCH WASTED EXPOSURE. MAGAZINES: MORE SPECIFIC COVERAGE - LESS WASTE. DIRECT MAIL: MOST SPECIFIC - LEAST WASTE

WHAT TO SAY? MESSAGE RESEARCH IS A SCIENCE START WITH THE AUDIENCE USE: REPETITION, WHAT TO SAY? MESSAGE RESEARCH IS A SCIENCE START WITH THE AUDIENCE USE: REPETITION, NOVELTY, CONTRAST, HUMOR MESSAGE RESEARCH REQUIRES TESTING.

WHEN AND WHERE TO SAY IT? MEDIA RESEARCH INVOLVES WHEN AND WHERE THE TARGET WHEN AND WHERE TO SAY IT? MEDIA RESEARCH INVOLVES WHEN AND WHERE THE TARGET AUDIENCE EXPOSES ITSELF TO YOUR MESSAGE. SOME MAGAZINES, TV PROGRAMS ARE BETTER FOR REACHING WOMEN OR MEN, YOUNG OR OLD.

WITH WHAT EFFECTS? z MEASURING ADVERTISING EFFECTIVENESS z PRETEST z PORTFOLIO TEST (AWARENESS, RECALL) WITH WHAT EFFECTS? z MEASURING ADVERTISING EFFECTIVENESS z PRETEST z PORTFOLIO TEST (AWARENESS, RECALL) z LAB TESTS z AFTER APPEARING IN THE MEDIA (POST TEST)

PERSONAL SELLING: Sales Tasks ORDER GETTING TASKS: Focus on converting prospects to customers or PERSONAL SELLING: Sales Tasks ORDER GETTING TASKS: Focus on converting prospects to customers or in getting customers to buy products they have not purchased before. ORDER TAKING TASKS: Focus on building repeat sales of products that customers have purchased previously. SALES SUPPORT TASKS: Facilitate order getting and order taking.

THE PERSONAL SELLING PROCESS z. PROSPECTING z. PREPARING THE PREAPPROACH z. PRESENTATION z. HANDLING THE PERSONAL SELLING PROCESS z. PROSPECTING z. PREPARING THE PREAPPROACH z. PRESENTATION z. HANDLING OBJECTIONS z. CLOSING THE SALE z. POST SALE FOLLOW-UP

PROSPECTING The process of searching for, identifying, and qualifying potential customers. Leads => qualified PROSPECTING The process of searching for, identifying, and qualifying potential customers. Leads => qualified prospects IF they can benefit from the product, IF they can afford it, IF they can make the buying decision.

SOURCES OF LEADS INTERNAL: COMPANY RECORDS, PERSONNEL EXTERNAL: TRADE JOURNALS, PRESENT CUSTOMERS, TRADE SHOWS. SOURCES OF LEADS INTERNAL: COMPANY RECORDS, PERSONNEL EXTERNAL: TRADE JOURNALS, PRESENT CUSTOMERS, TRADE SHOWS.

PREPARING THE PREAPPROACH Gathering specific information about the prospect which will help in tailoring PREPARING THE PREAPPROACH Gathering specific information about the prospect which will help in tailoring the sales presentation to the prospects’ situation.

APPROACH The manner chosen to gain access to the prospect, establish rapport, and get APPROACH The manner chosen to gain access to the prospect, establish rapport, and get the prospect’s attention and interest.

PRESENTATION There are various approaches: z. Stimulus-Response Selling z. Barrier Selling z. Formulized Selling PRESENTATION There are various approaches: z. Stimulus-Response Selling z. Barrier Selling z. Formulized Selling z*Need-Satisfaction Selling => recognizes that the main reason people buy comes from within the person, not from outside stimuli.

HANDLING OBJECTIONS Encouraging prospects to voice objections provides FEEDBACK and helps the salesperson deal HANDLING OBJECTIONS Encouraging prospects to voice objections provides FEEDBACK and helps the salesperson deal with objections in a positive fashion.

CLOSING THE SALE The CLOSE involves asking the prospect for an order. Closing is CLOSING THE SALE The CLOSE involves asking the prospect for an order. Closing is an art, and may take many forms.

Types of Closing Techniques z. Standing Room Only Close (It’s the Last One) z. Types of Closing Techniques z. Standing Room Only Close (It’s the Last One) z. Extra Inducement Close z. Emotional Close z. Silent Close z. Alternative Decision Close (Either/Or)

POST SALE FOLLOW-UP Important since it helps ensure: customer satisfaction goodwill may lead to POST SALE FOLLOW-UP Important since it helps ensure: customer satisfaction goodwill may lead to repeat business

SALES FORCE ISSUES z. ORGANIZING THE SALE FORCE TERRITORIAL SPECIALIZATION PRODUCT SPECIALIZATION TASK MARKET SALES FORCE ISSUES z. ORGANIZING THE SALE FORCE TERRITORIAL SPECIALIZATION PRODUCT SPECIALIZATION TASK MARKET SPECIALIZATION z. RECRUITING AND SELECTING THE SALES FORCE

z. TRAINING AND DEVELOPMENT OF THE SALES FORCE z. COMPENSATING THE SALES FORCE STRAIGHT z. TRAINING AND DEVELOPMENT OF THE SALES FORCE z. COMPENSATING THE SALES FORCE STRAIGHT SALARY STRAIGHT COMMISSION COMBINATION PLANS z. MOTIVATING THE SALES FORCE

That depends on their strengths. Two vital measures are: 1) the effectiveness of a That depends on their strengths. Two vital measures are: 1) the effectiveness of a single exposure and 2) the cost of a single exposure

When do you use each element? When do you use each element?

ADVERTISING Any PAID form of NONPERSONAL presentation and promotion of ideas, goods, and/or services ADVERTISING Any PAID form of NONPERSONAL presentation and promotion of ideas, goods, and/or services by an IDENTIFIED SPONSER. Examples: Let Your Fingers Do the Walking; Mc. Donalds’. . .

Let’s look at ADVERTISING z. A 30 second commercial aired on the Super. Bowl Let’s look at ADVERTISING z. A 30 second commercial aired on the Super. Bowl might cost $500, 000. z. If 50, 000 people see it, it costs, $. 01 or one penny person exposed (LOW) z. How many people run out and buy the product? 5000? That is 1 in 1000 or. 1% of viewers (LOW SUCCESS RATE)

PERSONAL SELLING DIRECT INTERACTION between parties - an oral presentation in conversation with one PERSONAL SELLING DIRECT INTERACTION between parties - an oral presentation in conversation with one individual acting as a ‘selling agent’. Example: Avon Representatives, Checkout person, you in an interview.

Let’s look at PERSONAL SELLING z. A single sales call by a salesperson costs Let’s look at PERSONAL SELLING z. A single sales call by a salesperson costs $750 (VERY HIGH EXPENSE PER EXPOSURE) z. If he or she sells one customer in 4 that is a 25% success rate (HIGH SUCCESS RATE)

PUBLICITY Any form of commercially significant news about an organization, good, service, idea that PUBLICITY Any form of commercially significant news about an organization, good, service, idea that is published by a mass medium and that is NOT paid for by a sponsor. Examples: Ebert (without Siskel), gourmet critics. . .

Let’s look at PUBLICITY z. A favorable restaurant review by a restaurant critic costs Let’s look at PUBLICITY z. A favorable restaurant review by a restaurant critic costs nothing but consistent good food (VERY LOW) z. If 10% of the readers come to your restaurant because of the review (MODERATELY HIGH SUCCESS RATE)

WORD OF MOUTH (ADVERTISING) Any form of interaction between individuals in which, neither party WORD OF MOUTH (ADVERTISING) Any form of interaction between individuals in which, neither party represents a ‘seller’. Examples: a restaurant recommendation from a friend, a colleague’s evaluation of a movie, a neighbor’s statements about a university.

Let’s look at WORD OF MOUTH advertising z. A favorable restaurant comment by a Let’s look at WORD OF MOUTH advertising z. A favorable restaurant comment by a friend costs nothing but consistent good food (VERY LOW) z. If 50% of the friends come to your restaurant because of the comments (VERY HIGH SUCCESS RATE)

SALES PROMOTION Sales Promotion = The promotional technique which emphasizes: Coupons, Rebates, Premiums, Contests, SALES PROMOTION Sales Promotion = The promotional technique which emphasizes: Coupons, Rebates, Premiums, Contests, Sweepstakes, Trading Stamps, Free Gifts, Samples, Point of Purchase Promotions, Trade Shows. . .

So. . . Choose the MIX of PROMOTIONAL methods to achieve communication objectives. So. . . Choose the MIX of PROMOTIONAL methods to achieve communication objectives.