BUS 448 Lecture Notes - Lecture 8: Personal Selling, Sales Promotion, Marketing Mix

• School: Stony Brook University
• Department: Business Management
• Course: BUS 448
• Professor: Camille Abbruscato

Document Summary

Four marketing mix elements (price, product, promotion, place) Reduces cost and increases inefficiency because it can reduce/eliminate redundancies. 4 components: advertising, personal selling, sales promotion, public relations. Push focus on bus such as wholesaler and retailers revolves on personal selling and trad. Pull reels in customers: stim demand for product. Extremely cost efficient when reaches large # ppl. Rapidly expanding online as consumers spend less time w/ traditional media: digital internet, trad media newspapers, radio, magazines. 2 forms: institutional advertising used to promote firm"s image, ideas, and culture, product advertising: used to promote image, features, uses, benefits and attributes of products. Effectiveness: eval of effectiveness = challenging; may take long time to develop, difficulty to link advertising to sales. Search engines: ad remarketing had some ethical issues. Online shopping has incorporated data mining: automatically collects data based on segmentation. Increase in internet usage and decrease in traditional media outlets. Personal relationships w/ buyers leads to trust of customer.