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MGTA02H3 (143)

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Management (MGT)
Chris Bovaird

Chapter 8 The 4 Ps – Promotion Promotion • Customers won’t buy your product if they don’t know about it, they don’t understand it, they don’t care about it • Make sure costumers aware, make them knowledgeable, get them to like your product, persuade to buy • In market, buyers look for sellers, seller look for buyers • Communicate into to buyers, stimulate sales by sellers 4 traditional methods • Advertising o Paid, non-personal communication used to inform a broad audience about a product o Media, sellers advertise their products in any medium that get theirs names in front of people o Ex, television ads, radio ads, newspaper ads, direct mail, outdoor (billboard $ signs) o Most effective when repeated and reinforced o Advertising tends to be priced by number of viewers/readers o Segmentation is essential (reaching the largest number who are interested) o Pros, useful for raising awareness o Cons,  Less effective at educating  No good at closing the sale  Consumers are bombarded by so many images every day that they can feel overwhelmed  We fee
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