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Lecture 12

ADM2320 Lecture 12: Untitled12

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Gurprit Kindra

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—> Objectives: inform, persuade, or remind a. Informative advertising: —> Informative advertising creates and builds brand awareness. —> Early in the PLC, firms use informative advertising to educate consumers about the product/service —> explain how it works, provide pricing and product information b. Persuasive advertising —> Firms use persuasive advertising to motivate consumers to take action. —> Generally occurs in the growth and early maturity stages of the PLC when competition is most intense —> In the later stage of the PLC may be used to reposition an established brand c. reminder advertising —> Reminder advertising is communication used to remind or prompt repurchases after the products have gained market acceptance and in the maturity stage of the lifecycle Advertising —> Focus of advertisements: Product-focused, Institutional —> Product placement: Product is included in non-traditional situations Example: a scene in a movie, music videos —> Public service announcements (PSA) = A special class of demand advertising, Focus is on public welfare, Sponsored by non-profit organizations, A form of social marketing Advertising - Regulatory & ethical issues: —> Regulation is a mix of formal laws & informal restrictions They’re designed to protect consumers from deceptive practices Many federal & provincial laws, self-regulatory agencies & agreements —> Puffery (outrageous claims) (The line between puffery and deception is a fine one) Personal selling —> Personal selling is the two-way flow of communication between a buyer and a seller, designed to influence the buyer’s purchase decision. —> It can take place in various settings, including face-to-face, video teleconferencing, on the telephone, or over the internet —> More expensive than other forms of promotion —> Some products require the help of a salesperson —> Salespeople can add significant value, which makes the expense 
 worth it Personal selling - Unique contribution to the 4 p’s —> Can customize the message for a specific buyer —> Assists in creating strong supply chain relationships —> Increased customer loyalty through relationship selling —> Gather research input from customers —> Crucial to the success of CRM The value added by personal selling —> Build relationships, Educate & provide advice, Save time & simplify buying Sales promotions = special incentives or excitement-building programs that encourage the purchase of a product or service. —> Can be aimed at both end user consumers or channel members (Discounts & allowances, Co-operative advertising, Sales force training) —> Can be used in either push or pull strategies —> Can be used for both short-term and long-term objectives Types of consumer sales promotions————————> Using sales promotion tools: —> Marketers need to be careful in their use of promotions (Future sales are shifted to now, Short –run benefits at the expense of long-term sales stability) —> Firms have become more creative in the types of promotions used (pop-up stores cross-promoting) Direct marketing
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