Promotional Techniques Marketing Strategies Which technique will

Promotional Techniques & Marketing Strategies Which technique will you use for your Group Project? 1 -21

A few things to know. . . What are the top reasons people watch and remember promotional techniques? Superbowl 2010 § http: //www. bing. com/videos/search? q=superbo wl+commercials+2010&qpvt=superbowl+comme rcials+2010&FORM=VDRE# 2 -21

Techniques & Strategies Outline § Raising awareness § Lifestyle Marketing § Event Marketing & Sponsorship § Guerrilla Marketing § Influencing behavior § Incentives and Loyal Marketing § Cause Marketing § Social Marketing 3 -21

Lifestyle Marketing § Directed towards the potential clientele with a lifestyle message § Aiming at individual differences in how people live, work and play § E. g. , narrowly focused magazines, bridal registry, the “cool market”, Drinks § E-trade commercial (30 sec) 4 -21

Event Marketing § Creating and supporting events to access participants § E. g. , art exhibits, zoos, concerts, golf tournament 5 -21

Sponsorship § Exclusive rights of products and services in specific venues § E. g. , VISA card at the Olympics § “Municipal marketing” § Links products/services to desirable locations § E. g. , Speedo on the beaches of L. A. , 6 -21

Guerrilla Marketing § To seize the attention of the marketplace with a shocking strategy § E. g. , Benetton’s and Calvin Klein’s ads, using lookalike priority mail, Santa Claus doing aerobics § Doritos (30 sec) § http: //www. superbowl-commercials. org/594. html 7 -21

Incentives § To influence consumer purchasing behavior § Giveaways, coupons, price discounts § E. g. , early bird dinner discounts, complimentary T-shirts for the first 100 people registering § Justin Timberlake (1. 2 min) § http: //www. retrocommercials. com/2009/04/justin-timberlakesuperbowl-pepsi-commercial-magnetic 8 -21

Loyalty Marketing § To influence consumer purchasing behavior § 5 times more expensive to attract a new customer than to retain a current one § E. g. , frequent customer cards, AAdvantage frequent-flier program § T-mobile (1 min 30 sec) http: //www. youtube. com/watch? v=RMv. SBs. J 3 XUY 9 -21

Loyal Marketing II § Lifetime revenue § The amount a loyal customer will spend on a product/service in his/her lifetime § E. g. , a pizza chain calculated $8000 § Share of customer § The percentage of business received from a particular customer § E. g. , business traveler takes 10 flights a year, 3 flights with AA = 30% AA’s share of 10 -21 customer

Cause Marketing § To influence consumer purchasing behavior § “Strategic philanthropy” § E. g. , a hair-care products company donated money to save rain forests based on percentage of purchases § Audi Green Police - (1. 1 min) § http: //www. youtube. com/watch? v=Wq 58 z. S 4 _jv. M 11 -21

Social Marketing § To change people’s behavior related to a social issue (e. g. , smoking, drinking, physical activity) § To improve individual and social welfare § E. g. , Active Living Healthy Lifestyles § Parents. com Drug ad 12 -21 § http: //www. youtube. com/watch? v=mu 993 i. MUrt. Q

Techniques & Strategies Outline § Creating Relationships § Information Marketing § Affiliation or Associative Marketing § Interactive Marketing § Making the Most of Resources § Ambush Marketing § Real Marketing § 3 Cs Marketing 13 -21

Information Marketing § Concept maintains that value is created when information creates special meaning for the customers and enhances the purchase. § Ex. Infomercials and Personalized news letters 14 -21

Affiliation or Associative Marketing § Belonging, part of something bigger or more important than him/herself. § Affiliation plays on individuals need to feel as if they belong § Associative addresses similar need enabling people to associate themselves with something or someone of importance to them. § EX: MTSU’s “I am one” campaign! § Minnesota Vikings (38 sec) http: //www. youtube. com/watch? v=7 Oams 5 m. Nvf. Q 15 -21

Interactive Marketing § Integrating technology options with overall marketing plans. § Ex: home shopping, infomercials, cds, internet, virtual reality. 16 -21

Ambush Marketing § Ambush marketing-getting your message across w/o spending a lot of $$ (Nike, Starbucks) § High-profile marketing efforts can result in substantial financial outlays for large corporations. 17 -21

Real-time Marketing § About time, place and the individual participant. § Is what works for the consumer. § Ex: ATM, 24 hr stores, pay-per-view, DVR, personalize greeting cards § DVR (32 sec) 18 -21 § http: //www. youtube. com/watch? v=D 03 ZLe. Pho. LA

3 Cs Marketing § Include techniques of co-marketing, cross promotion and combination marketing. § Co-marketing – a partnership relationship that is a definite win-win for all parties involved whethere are 2 or 20. § Cherios and pampers (30 sec) http: //www. youtube. com/watch? v=3 Mc. Lvf-_rd. I 19 -21

§ Cross promotional efforts - can sharing the costs associated with marketing and promotion. § Combination marketing – takes one or more marketing strategies and combines them to create an effort that gets attention, influences behavior, or creates a relationship. § A true “making the most” strategy. 20 -21

Learning into action: What Technique/Strategy? § Name: product/service (if relevant), target market, promotion strategy, and venue 1. http: //www. superbowl-commercials. org/632. html 2. http: //www. youtube. com/watch? v=k. Qs. Ns 8 SWCk. U&featu re=related 21 -21