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Marketing Promotion
Marketing Essentials Promotion
| Term | Definition |
|---|---|
| Promotion | any form of communication a business or organization uses to inform, persuade, or remind people about its products or improve its public image. |
| Promotional Mix | the combination of the different types of promotion a business or organizations uses to promote its products |
| Product Promotion | used to convince potential customer to buy their products instead of buying from a competitor |
| Institutional Promotion | used by a business to create a favorable image for itself, as opposed to promoting a product or service |
| Five basic categories of the Promotional Mix | Personal Selling, Advertising, Direct Marketing, Sales, Promotion, and Public Relations |
| Personal Selling | requires that a company employ sales representatives who generate and maintain direct contact with prospects and customers. It is one of the costliest forms of promotion. |
| Advertising | a form of non-personal promotion. Companies pay to promote ideas, goods, or services in a variety of media outlets. |
| Direct Marketing | type of advertising directed to a targeted group of prospects and customers rather than to a mass audience. |
| Sales Promotion | used to stimulate purchasing and sales. The objectives are to increase sales, inform potential customers about new products, and create a positive business or corporate image. |
| Public Relations | activities enable an organization to influence a target audience. Often, public relations campaigns try to create a favorable image for a company, its products, or its policies. |
| Push Policy | Promotional mix developed for the next partner in the distribution channel, to convince a retailer to stock the products being promoted. |
| Pull Policy | Promotional mix developed to reach the consumer, creates consumer demand for a product to get the products into the retail stores. |
| Sales Promotion | Incentives that encourage customers to buy products or services |
| Trade Promotions | Designed to gain manufacturers, wholesalers, and retailers support for a product |
| Promotional Allowances | a cash payment or discounts given by manufacturers to wholesalers or retailers for performing activities to encourage sales |
| Cooperative Advertising | A manufacturer supports the retailer by helping to pay for the cost of advertising its product locally |
| Slotting Allowances | a cash premium paid for placing a product on a retailer’s shelves |
| Sales Force Promotions | awards given to managers and employees who successfully meet or exceed a sales quota. |
| Trade Shows and Conventions | The Consumer Electronics Show is held annually in Las Vegas. Check it out by clicking on the image. |
| Consumer Sales Promotions | designed to encourage customers to buy a product |
| Coupons | certificates that entitle customers to cash discounts on goods or services. |
| Premiums | low cost items given to consumers at a discount or for free |
| Factory packs | free gifts placed in product packages |
| Traffic builders | pen, calendar, key chain given free for visiting or attending event |
| Coupon plans | ongoing program offering a premium in exchange for labels, coupons or other tokens from one or more purchases. |
| Incentives | generally higher priced products earned and given through contests, sweepstakes, and rebates. |
| Contests | activities that require demonstration of a skill |
| Sweepstakes | game of chance |
| Rebates | discounts offered to customers who purchase |
| Product Samples | are Free and usually only a trial size sample which can be distributed through mail, door-to-door, or at a retail or trade show. |
| Sponsorship | company pays a fee for the right to promote itself and its products or services at or on a set location |
| Promotional Tie In | creates an arrangement between one or more retailers or manufacturers to help cross promote a product. |
| Loyalty Marketing Program | A Frequent buyer program that rewards customers for making multiple purchases |
| Point of purchase | displays are displays designed primarily by manufacturers to hold and display their products. They are usually placed in high |
Created by:
MrHonig
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