BU121 Lecture Notes - Lecture 9: Business Model Canvas, Sales Promotion, Personal Selling

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8 Feb 2016
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BU121 – Lecture 9
Promotion
Advertising – non-personal sales presentation of a relatively long term nature – that is
paid for by an identified sponsor
Personal selling
Sales promotion – short term
Publicity – free as other people are just talking about it
To connect all the elements must have – integrated marketing communication
Advertising
Objectives
oCreate AIDA
oCommunicate value proposition to position product in consumer’s mind
oKey is to sell products – creativity alone will not be enough to sell
Key – Communicate brand in way that persuades / leads to sale
Ideally you want your message to go viral
oBut don’t lose sight of what makes things go viral in the first place
Laws of going viral – by Jonah berger, contagious
oIts more than online – online only 7%
o10 million views doesn’t matter alone
oShares are more important than views
Number of shares / number of views = virality
oNot just viral… Valuable virality
Personal Selling
More effective but more expensive – ads cant talk back to customers this can
Combine with advertising to:
oGenerate leads
oDecrease cost of sales call
oReach ‘inaccessibles’
oMaintain image in buyers mind
Factors to consider in budget decision
oPerceived risk of sale – financial, social, performance
oAmount of information to convey
oDegree of customizing necessary
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