VBS Promotions Powerpoint

Virtual Business Sports
What Have We Learned So Far?
Definition of Marketing
Process of developing, promoting, &
distributing products to satisfy
customers’ needs & wants
Marketing’s Main Purpose
Marketing Process
Provide a bridge between producers
& consumers so exchange of goods &
services can occur
There are 7 main Marketing
Functions that make up the
marketing process
Distribution: Physical
movement & storage
Financing: How & where
funds are used in business
Marketing-infomanagement: Collecting,
disseminating, & using
info. To make sound
business decisions
Pricing: Decisions
dictating how much to
charge for products
management: What
products & services will
be offered
Promotion: Activities that
inform & persuade
Selling: Personalized
communication that
influences purchasing
Marketing Mix(Four P’s): Four
Main Marketing Decisions
Product (P/S Planning)
 Place (Distribution)
 Price
 Promotion
* Most important decisions because each deals
directly with consumers.
All activities used to inform &
persuade consumers to buy products
& services.
Promotional Mix
Any combination of promotional
activities, including advertising, sales
promotion, personal selling, &
publicity a company will do to inform
& persuade consumers.
Promotion in Virtual Business
In VBS you have control of
sales promotion & advertising
Sales Promotions
Any promotional activities used to
stimulate consumers to buy within a
certain time frame.
Sales Promotion Examples
 Contests
 Coupons
 Free Samples
 Displays
Sales Promotions in Sports
Cause people to attend who otherwise
would not
 Will be planned for events that are not
expected to be sold out.
Categories of Promotional Items
High Cost – Expensive promotional items.
 Low Cost – Inexpensive promotional items.
 High Appeal – High demand promotional
 Low Appeal – Low demand promotional
Secret to Promotional Success
Balance cost and promotion
Too much will be too costly and drain profits.
Too little will lower sales.
Teams must find an equilibrium between
promotions & costs to maximize profits.
Try to find low cost / high appeal items.
Vary promotions
Maximize promotional $ by directing promotional
activities towards the target market
Promotion Terms
Target Market – Particular market segment
selected as being the most appropriate for a
certain advertising campaign or schedule.
 Promotional Items – Special items given out
to increase sales.
 Forecasting – The prediction of upcoming
results based on the evaluation of
accessible, relevant data.