Product Promotion
Promotional method business use to convince potential
customers to buy their goods or services instead of a
competitors.
Institutional Promotion
Promotional methods used to create a favorable image
for a business. Helps to build goodwill and reputation.
Goals of Promotion are summed up
by AIDA acronym – Attract Attention,
Build Interest & Desire, Ask for Action
Personal Selling
Requires Sales Representatives to generate and
maintain direct contact with prospects and customers.
Most expensive form of promotion, typically takes
place after other methods have been tried.
Advertising
Advertising is found everywhere! Billboards,
brochures, internet, magazines, receipts, radio, TV,
busses, menus, receipts, everything now a days is used
for advertising!
Direct Marketing
Examples: Direct mail & Telemarketing
New Wave of Direct Marketing: E-Marketing!
Any promotion that is delivered via the internet such as:
search engine marketing, mobile apps, social media, etc.
Sales Promotion
Coupons, money-off promotions, competitions, product
samples, and point-of-purchase displays
Objective of Promotion: Increase sales, inform potential
customers about new products, and create a positive image.
Public Relations
Influence general opinion and create favorable public image
for a person, organization, or a company, its products and
policies.
Promotional Mix & Budget
Most businesses will use more than one type of promotion to
achieve their goals.
They will use a cost-effective mix of strategies that include,
advertising, selling, sales promotions, direct marketing, and
public relations strategies.
Push Concept
Manufacturers push the product through the distribution
channel to the retailer. Particularly helpful with products that
do not have a strong brand identity.
Pull Concept
Enticing or pulling consumers into the store to buy the
product. Half-off deals or clearance sales bring people to the
store. Designed to create interest and demand.
Slotting Allowance
Cash premium paid by a manufacturer to a retailer to help the
retailer cover the costs of placing the product on the shelves.
Coupons
Used to introduce new products, enhance sales, and to
encourage retailers to stock and display both.
Also, don’t forget about online coupon codes!
Premiums
Designed to increase sales by building product loyalty and
attracting new customers. Grouped into 3 categories:
Factory packs, traffic builders, and coupon plans.
Incentives
Contests, Sweepstakes, Special offers, & Rebates
Promotional Tie-Ins,
Cross-Promotion, Cross-Selling
Partners combine their advertising and sales promotional
activities to conduct a promotion that will create additional sales
for each partner.
Product Placement
Consumer promotion that involves the verbal mention or
appearance of a brand-name product in a tv series, movie, or
event.
Loyalty Marketing Programs
Each purchase allows the customer to accumulate points for
every purchase. They can be used for discounts, free items, etc.