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Marketing FINAL
Ch. 18
Term | Definition |
---|---|
Purpose of Promotions | Inform; Create awareness Persuade; Through proof + testimony Connect; Create relationships w/ customers Remind; Maintain awareness |
Informing | Early in the product cycle because you need to show how the product works + image enhancement Ex: Oral B Toothbrush Ad |
Persuading | To encourage people to switch brands or change customers perceptions of product attributes; Use emotional appeals and persuade customers buy immediately Ex: Sabra Hummus Ad |
Connecting | Form relationships through social media, loyalty programs, brand advocates, apps, etc Ex: Sephora Beauty Insider |
Reminding | Mature products; remind customers that product is needed and where to buy → little nudge to keep brand in evoked set Ex: Pen Thief (Coworker Collection) from Staples |
Ethical Concerns of Promotions | - Deceptive? - Increase Prices? - Create Needs? - Encourage Materialism? - What should and shouldn't be advertised? |
Institutional Advertising | Enhances company’s image rather than touting a specific product |
Advertising | Paid, controlled communication From an identified sponsor, manufacturer, retailer, or org Through a variety of media channels (Tiktok, Facebook, etc.) |
Advertising Strategy | - Advertise when product is relevant + right time period - Dispersion challenging for mass appeal products - Helpful to niche products |
Advertising Creativity | Informational or emotional Sell the solutions or benefits Creative content means selling the benefits sought What’s in it for me --> Sell product’s benefits, not its attributes |
Product Advertising | Touts benefits of existing product |
Product Placement | Placing a product within a media to promote it but needs to align with brand values + identity; make sure its represented well! |
Sponsorships | Ex: sports! —> naming the venue, giving money to teams, etc. → spreads the brand name, associated w/ winners, generates happiness |
Advertising Appeals | Informational or Emotional |
Informational Appeal | - What are the benefits provided? - What is the price? How affordable is it? - Is it environmentally friendly? - Is it convenient? |
Emotional Appeal | - Top emotion; fear - Humor; make sure brand is tied to humor - Status / Luxury/ Affluence - Love / Sex - Nostalgia |
What does PR mean? | Public Relations but also Performance Recognized NOT bs or spindoctoring |
PR | - Create programs + communication for multiple stakeholders about areas of interest of the organization / product - Purpose is to build a positive public image |
Internal and External PR | - Evaluates public attitude of key stakeholders - Identifies issues of public concerns - Executes programs to gain public acceptance |
Owned and Earned Digital Media | Owned; social media accounts Earned; what people post about you |
Consumer Sales Promotion (Pull Strategy) | Sales Coupons + Rebates Premiums Loyalty Programs Contests and Sweepstakes Sampling Methods Point of purchase |
Challenges w/ CRM | - Expensive to offer - Intensive to manage - Hard to Change --> people will get mad if you stop - Does it impact loyalty? - Easily Copied |