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Chapter 12

MKTG 2201 Chapter 12: MKTG Chapter 12

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MKTG 2201
Thomas Lerra

MKTG Chapter 12 Promotion Mix • A promotion mix, or marketing communications mix, is a specific blend of promotion tools: o Advertising o Sales promotion o Personal selling o Public relations (PR) o Direct and digital marketing • Used by companies to: o Engage consumers and persuasively communicate customer value Factors in New Marketing Communications Model • Changing consumers: Marketers reach smaller consumer segments in interactive and engaging ways • Changing marketing strategies: Mix of traditional mass media and a wide array of online, mobile, and social media • Advancements in communications technology: Brand content marketing managers create, inspire, and share brand messages and conversations • Four Media types (POES) o Paid media- promotional channels paid for by the company (traditional media) o Owned media- promotional channels owned and controlled by the company (blog, own social media sites, events) o Earned media- PR media channels that are not directly paid for or controlled by the marketer (news) o Shared media- media shared by consumers with other consumers (social media, viral channels, word of the mouth) Integrated Marketing Communications Nature of the Promotion Tools Promotion Tools Description Advertising • Reaches masses of buyers at a low cost per exposure • Builds a long-term image for a product • Can trigger quick sales • Has a public nature and is viewed as legitimate • Very expressive • Impersonal and lacks the direct persuasiveness of salespeople Personal selling • Personal interaction between two or more people • Allows all kinds of customer relationships to spring up • Buyer feels a greater need to listen and respond • Most expensive promotion tool Sales promotion • Wide assortment of tools with unique qualities • Attracts attention and offers incentives to purchase • Used to dramatize product offers and boost sales • Invites and rewards quick response but has short-lived effects Public Relations • Very believable to readers • Can dramatize a company or product • Reaches many prospects • Effective economical when well thought out Direct and digital • More targeted and interactive marketing • Immediate and personalized Push vs. Pull Strategy Push- calls for using the sales force and trade promotion to push the product through the channels Pull- calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that pulls the product through the channel Major Decisions in Advertising Advertising Objective • A specific communication task to be accomplished with a specific target audience during a specific period of time • Three purposes: Informative Advertising Communicating customer value Suggesting new uses for a product Building a brand and company image Informing the market of a price change Telling the market about a new product Describing available services and support Explaining how a product works Correcting false impressions Persuasive Advertising Building brand preference Persuading customers to purchase now Encouraging switching to a brand Creating customer engagement Changing customer perceptions of product Building brand community value Reminder Advertising Maintaining customer relationships Reminding consumers where to buy the product Reminding consumers that the product may be Keeping the brand in a customer’s needed in the near future mind during off-seasons Methods of Setting the Advertising Budget • Affordable method • Percentage-of-sales method • Competitive-parity method • Objective-and-task method- set objective, determine tasks needed, estimate cost Advertising Strategy • Accomplishes the company’s advertising objectives • Major advertising strategy elements o Creating advertising messages o Selecting advertising media Creating and Advertising Message and Brand Content • Breaking through the clutter • Merging advertising and entertainment o Madison & Vine- a term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching customers with more engaging messages ▪ Advertainment- make ads and brand content themselves so entertaining that people want to watch them ▪ Brand integrations or branded entertainment involves making the brand an inseparable part of some other form of entertainment or content- pro
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