Promotion-Marketing Strategies

Promotional Mix
1. Personal Selling
2. Advertising
3. Public Relations
4. Sales Promotion
Promotion Definiton
A marketing tool used to inform, persuade, or remind people about a product
Advertising
Any paid form of non-personal promotions of ideas, goods, or services by an identified sponsor. Businesses spend about $200 billion annually for ads.
ex) Magazines, radio, Tv, newspapers, online, buses, sports arenas
Sales Promotion
Represents all marketing actives, OTHER THAN other 3 parts of promotion mix. Objectives are to increase sales, to inform about new products, and create positive image.
ex) Licensing, product placement, promotional tie-ins, visual displays,premiums, incentives, loyalty programs
Public Relations
Any activity designed to create a favorable image toward a business and its product or policies.
ex) Publicity
Personal Selling
One of the largest and most expensive form of promotion. Requires individuals to make contact with potential buyers. Designed to complete a sale once a customer is attracted to a business by ads, sales promo, or public relations. Typically takes place after other promotional activities/last
ex) Employee training and incentive programs
Publicity
Specific kind of public relations that involves placing positive and newsworthy information abut a business and its products in the media. FREE
Licensing
The right to use a company’s trademark in return for a fee.
ex) Crayola logo on nailpolish in a ‘crayola’ package
Product Placement
Placing products in movies and Tv shows
ex) Audi cars in Iron man
Promotional tie-ins (Cross promotion)
Two companies with the same target market.1 +1 =big bang
ex) Brooks brothers and Great Gatsby ad
Visual merchandising and displays
How you set up your products in stores. High impact mixed displays help a product stand out
ex) A Thomas the train display case with Thomas the train toys on it
Premiums
Low cost items given to customers at a discount or for free
ex) Coupons, samples, bonus packs, buy 1 get 1 free
Incentives
Higher priced products earned and given through contests, sweepstakes and rebates. NOT automatically given, must be earned. In the maturity stage of sales
Loyalty programs
Encourages and rewards repeat purchases made by customers who keep coming back to a business
ex) Frequent fliers, Caribou perks, punch cards