PRINCIPLES OF BUSINESS MARKETING LESSON 5.4 ADVERTISING - PROMOTION AND SPECIAL EVENTS

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PRINCIPLES OF BUSINESS MARKETING

LESSON 5.4 ADVERTISING - PROMOTION AND

SPECIAL EVENTS

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VOCABULARY TERMS

Promotion- any form of communication a business uses to inform, persuade, or remind people about its products, or to enhance its image.

Promotional Mix- any combination of the four components of promotion: sales promotion, public relations and publicity, advertising or personal selling.

Product Promotion- businesses use this type of promotion to convince people to buy their products over a competitor.

Direct Marketing- a type of advertising directed to a targeted group of prospects and customers rather than to a mass audience.

Sales Promotion- represents all marketing activities used to stimulate purchasing and sales.

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VOCABULARY TERMS

Public Relations- activities or campaigns by an organization to try and create a favorable image for their company and its products.

News Release- an announcement that is sent to the appropriate media outlets.

Publicity- involves bringing news or newsworthy information about an organization to the public’s attention.

Coupons- certificates that entitle consumers to cash discounts on goods or services.

Premiums- low cost items given to consumers at a discount or for free.

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Personal

Selling

Advertising

Direct

Marketing

Sales

Promotion

Public

Relations

PROMOTIONAL MIX

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PERSONAL SELLING

• Personal selling requires a company to have sales people or representatives who generate direct contact with potential and existing customers.

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ADVERTISING

• Advertising is a paid form of promotion. Companies pay to promote products, ideas, and services in a variety of media outlets.

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DIRECT MARKETING

• Direct Marketing is directed to a targeted group of potential and existing customers rather than a mass audience.

• The two forms of direct marketing are: printed direct mail (post office) and electronic mail (e-mail)

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SALES PROMOTION

• The object of a sales promotion or special event is to increase sales, inform potential customers about new products and create a positive business or corporate image.

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PUBLIC RELATIONS

• Public relations plays a key role in creating a positive image for a company. One goal in public relations in to cultivate media relations with reporters who cover a specific industry.

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To increase sales when doing promotions or special events a company must:

• Know the message they are trying to convey to the consumer

• Plan accordingly and pay attention to detail

• Use every element of the promotional mix to the best advantage of the company

• Evaluate results

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