AB219 Marketing Unit Eight Tonight’s Focus: The Promotion Mix Components What do I have to do this week? • Reading: Chapter 14. • Discussion: Online Computer Companies! • Research Project: Complete & Submit! • Simulation: 3rd one for the term! • Quiz: None this week! Professor’s Tip: U8 Research Project (and related research) not intended to be completed in a few days, but over at least 2 weeks. So, don’t wait until the last minute to pull it together & watch my “Professor’s U8 RP Help Video” for pointers! Remember: Tuesday @ 11:59 pm is the weekly deadline. Discussion “Best Practices” Major Discussion Requirements include: • 1st detailed original response (answers discussion questions) no later than Saturday of unit. • EXCEED minimum 100 word initial post (usually will have to exceed this minimum to adequately respond to the question(s) asked .) • Post on at least 3 different days. • Respond to @ least 2 of your classmates (These posts must also include the substance from our weekly focus and demonstrate your application of the material we are learning.) • Minimum 3 total posts for each unit (1st detailed original response, 2 peer responses). Remember: • Relate Discussion to Reading & Weekly Focus. • Interactive discussions, so please answer any questions that I or classmates may ask. U8 Research Project 2nd Research Project – U8 • Major Components: -Introduction & Segmentation -Focuses on the Marketing Mix for your brand (4 P’s: Product, Price, Promotion & Distribution/Place) -APA formatted paper with approximately 3-5 pages written response. • Please submit to the dropbox as: YourNameU8RP! Major Components of the U8 R.P. Marketing Mix (Overview Paragraphs) • Overview of your brand’s marketing mix (4P’s)? • What are the products of your brand or services provided? • What are some key facts and background information on your company or brand? • What are the various pieces you will touch on in the paper? • Identify the segmentation and target markets. Major Components of the U8 R.P. Product (U4 & U5) • • • • • • • • Product(s) Classification Product Life Cycle Product Positioning Why different product lines or line extensions? (if appl.) Features and Benefits of the product. Type of product(s): Shopping, Convenience, etc……….. Width and Depth of your brand & respective products Importance of Product Packaging Major Components of the U8 R.P. Price (Unit 5) • Pricing Strategies: competition-based pricing, demandbased pricing, new product pricing, and/or product-line pricing. • Pricing Objectives • Is the brand’s pricing is in line with the competition? • Discuss the issues and reasons behind the brand and respective products being higher priced or lower priced. • Is price is consistent with the quality level? Major Components of the U8 R.P. Distribution/Place (U6) • • • • • Types of channels leveraged Order Processing Transportation Methods Used. Type(s) of distribution your brand uses. Explain & Analyze Distribution Coverage Intensity: Does your brand use an Intensive, Selective or Exclusive Strategy? • Examine whether the brand is being sold in the right outlets. • Discuss what course of action would remedy any shortcomings. Major Components of the U8 R.P. Promotion (U7 & U8) • • • • • • Advertising Public Relations Personal Selling Sales Promotion Online and Direct Marketing Discuss what is needed for an IMC (Integrated Marketing Communications) plan. • How is an IMC strategy evident in the Promotional Component of your brand? • Analyze advertising plans in terms of message or execution. Project Recommendations • APA Structure: - 3 to 4 pages of substantial content. - Title & Reference Pages are bookends. (@ least 3 reference sources) - Cite References within the paper itself. (@ least 3 in your papers) - 1” Margins, 12-point Font, Times New Roman, Double Spaced. - No spaces between paragraphs & indent new paragraph. (Titles Optional) - See 4 Resources in Doc Sharing: Professor’s Assignment/RP APA Guide, Referencing in APA Guide, Citing in APA Guide, & APA Assignment Example (GE) - Watch the U4 “Professor’s Assignment/RP Help Video” emailed to you and link available announcements. • Substance tied to Units being Studied: - Read Project Template as guide on how to complete the assignment. - Provide facts & statistics (cite this within your paper) - Provide your ideas connected to the focus as it relates to the readings. - Provide more than just opinion …… analysis & connect to readings. • Save document & submit as: YourNameU8RP Research Project Submission Structure Title Page * Written Response Pages * (approximately 3-4 pages) Reference Page Finished product: Will look like the above with a 3 - 4 page response section between separate APA formatted title and reference pages. Demonstrate practical application of the concepts learned throughout the course in this approximate 3 - 4 page response paper. U8 Research Paper Recommendations (continued) • You will connect the ideas, from our course, to the company/brand you are writing about & researching. Pull together over a number of days & not just a couple of nights before due date! •Important to be high quality, because you are actually pulling together the Unit 10 Powerpoint Assignment Presentation on the U8 Research Project. AB219 Marketing U8 Research Project Need Help ………….. Contact Me! :: firstname.lastname@example.org :: :: 215-360-1258 :: Let’s Test our Knowledge! U8.1: Any paid form of non-personal communication through mass media is called: a) publicity. b) c) d) e) advertising. public relations. sales promotion. personal selling. U8.2: Advertising objectives need not be clear, precise, and measurable because they are only estimates of what an advertiser wants to accomplish. a) T b) F U8.3: In many instances the most appropriate way for a firm to cope with an event that leads to negative public relations is to: a) b) c) d) e) discourage news coverage of the event. deny that the event occurred. facilitate news coverage of the event. hire a public relations firm. refrain from publicity that reports the event. Review: The Promotion Mix • • • • Advertising Public Relations/Publicity Personal Selling Sales Promotion These were all covered in last week’s seminar & it makes sense to review them, on the next few slides, before covering the 5th element – direct marketing. Review: Advertising • Paid non-personal communication through mass media • Advantages -Cost efficient on a per person reached basis -Highly flexible, and allows for repetition -Adds value -Lends legitimacy • Disadvantages -Out of pocket outlay is high -Hard to measure sales effect unless source coding is used -Feedback usually slow Review: Public Relations • Communication efforts used to create and maintain favorable relationships between an organization and its stakeholders. (also called publicity) • Individual brands generally have publicity/public relations done at the corporate level. • Some people call this “free advertising,” but it can be expensive and must be done well to be effective. • Examples? Review: Personal Selling • Paid Personal Communication • Advantages -Provides significant impact on customers due to personal contact -Interactive - allows for immediate impact and adjustment • Disadvantages -It is costly and considered the most costly part of promotion based on the # of people reached Review: Sales Promotion • Direct incentive to buy • Growing rapidly due to its effectiveness • May be directed at salespeople, resellers, and consumers- anywhere in the distribution chain • Examples: free samples, coupons, contests, premiums, rebates, buy one get one frees, frequent buyer programs, etc. Review of Unit 7 • Just reviewed! Questions or concerns? • Are the Research Projects on the 4p’s (marketing mix) almost ready for submission this week? • Lets start discussing Unit 8! Our Topics for This Week Direct and online marketing: The fifth element of the promotional mix Direct Marketing Directly connecting with targeted consumers to bring about an immediate response and foster long term relationships. Advantages of Direct Marketing Benefits to Buyers • Convenience - available @ a time of their choosing • Easily accomplished and can be done in privacy of home • Many products are available • Information on product can be plentiful • Possibility for interactivity • Purchase can be immediate - even in the middle of the night Advantages of Direct Marketing (cont.) Advantages to sellers • Can be low cost when effectively targeted • It can be efficient with formatted information being obtained • Transactions can be quickly accomplished • It can be flexible • Access to buyers can increase due to consumer accessibility • Database use and access to past orders can facilitate development of future offers Types of Direct Marketing • Direct Mail - the use of a physical or virtual address to promote products. - Can be very selective - Very flexible - offers can vary - Very easily measures response rates • Catalog Marketing - print, video or digital catalogs that allow customers to place orders mail, telephone or online. - Brings offerings to people in all locations - Online versions can be updated continually and new products added Types of Direct Marketing (cont.) • Telemarketing - the performance of marketing-related activities by telephone. -Useful for sales lead generation, raising funds, and gathering marketing data -Outbound and inbound operations • Direct-Response Television Marketing - use of the TV to direct market to consumers. -Allows for demonstrating and explaining products -QVC and Home Shopping Network are most popular, but infomercials are also popular. Types of Direct Marketing (cont.) • Kiosk Marketing - the use of self-serve machines that allow consumers to order products or get information. • Digital Direct Marketing Technologies - provide ordering, marketing and interactive marketing opportunities through mobile phones, hand-held devices and television. Online Marketing • The use of the internet to sell products and foster customer relationships • The fastest growing form of direct marketing • Two types of marketers: - Click only - No traditional physical presence - Click and mortar - Have both online and physical presence Online Domains (Websites) • Business-to-Consumer (B2C) -Online selling of products to final consumers -Influences over a third of all retail sales • Business-to-Business (B2B) -Allow business buyers fast access to purchase and handle purchase issues -Custom web sites can be provided for large business clients Online Domains (Websites) (cont.) • Consumer-to-Consumer (C2C) -Consumers selling to other consumers -Online auctions, blogs, online personal ad sites • Consumer-to-Business (C2B) -Consumers search out businesses to buy from and to provide comments to Setting up an Online Presence Commercial Website Considerations • • • • • Should be well designed and laid out Ordering should be easy and secure Information that buyers need readily accessible It is best to have non-internet contact available Change to keep the site fresh and people coming back Setting up an Online Presence (cont.) Placing ads or promotions online ……… there are several forms as follows: • • • • • • Banner ads Pop-ups Search ads Affiliate programs Alliances Viral marketing Setting up an Online Presence (cont.) • Online Social Networks -Websites that foster social interaction that includes sharing information and information exchange -Participate in existing sites or create one -Examples: Facebook, Linkedin, YouTube, Twitter • Using E-mail -Sending solicited or unsolicited mailings to people online -Effective if people have requested e-mails or can opt out easily -Problem of cyber junk mail ………… spamming What do I have to do this week? • Reading: Chapter 14. • Discussion: Online Computer Companies! • Research Project: Complete & Submit! • Simulation: 3rd one for the term! • Quiz: None this week! Professor’s Tip: U8 Research Project (and related research) not intended to be completed in a few days, but over at least 2 weeks. So, don’t wait until the last minute to pull it together & watch my “Professor’s U8 RP Help Video” for pointers! Remember: Tuesday @ 11:59 pm is the weekly deadline. Any Questions? Thank you for attending! See you next week .... Same Place, Same Time!