PROMOTION Promotion A variety of persuasive techniques used by companies to communicate with their target market and general public. In simpler words it means “Do you know who we are and what we have for you”. Promotional Strategy & Goals A company’s promotional strategy defines the direction and scope of promotional activities to meet marketing objectives. Promotional goals: Promotional activities have three goals. To Inform To Persuade To Remind Four Elements of Promotion Promotional Mix consists of four elements and it is a blend of these that makes promotional campaign successful. Personal Selling Advertising Public Relations Sales Promotion The Promotional Mix Personal Selling: It is in person communication between one seller or one or more buyers. Advertising: It is paid, non personal communication with the target market using mass communication channels. The Promotional Mix Public Relations: It is non sales communication with various audiences. Sales Promotion: These are wide range of events and activities that are designed to generate public interest in the product. Promotional Strategies We will discuss two basic promotional strategies. Push Strategy: An approach designed to motivate wholesalers and retailers to promote or push a product for sale to end consumer. Pull Strategy: An approach that generates consumer demand which then exerts pressure on wholesaler and the retailer to carry that product. Personal Selling Process A good selling process has seven steps: 1) Prospecting 2) Preparing 3) Approaching the Prospect 4) Making the Presentation 5) Handling Objections 6) Closing 7) Following Up Advertising Advertising can be divided in to several categories and the most popular forms are the following: 1. Product Advertising 2. Institutional Advertising 3. Competitive Advertising 4. Comparative Advertising Advertising Product Advertising: Advertising that tells people about the features, benefits and normally the price of a good or service. Institutional Advertising: Advertising that is done to create a good will for the company rather than selling goods. Advertising Competitive Advertising: Advertisements that specifically highlight that “HOW & WHY” a product is better than its competition. Comparative Advertising: Advertisements that show the comparison of two or more products. Promotion (Strategy & Goals) To achieve these goals two kind of advertising is done. Persuasive Advertising: It is designed to persuade audience to change its behavior or attitude. Reminder Advertising: It is designed to remind existing customers and consumers about the availability of a product. Public Relations Good companies always try to build on reputation and establish public relations with different segments in the society to protect their reputation. They communicate with consumers, government officials and interest groups through media. They keep good relations with media to enjoy a god name in the market. Sales Promotion These are wide range of events and activities that are designed to generate public interest in the product. These are generally of two kind. 1) Consumer Promotion. 2) Trade Promotion. Consumer Promotion It is a sales promotion activity aimed at the end consumer. These could be: Free Samples Coupons Rebates Point of purchase display Trade Promotion These are sale promotion activities aimed at wholesalers and retailers so that they can promote sales of a company. These could be: Trade Allowances Forward Buying Trade Shows.
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