Applying the Promotional Mix Advanced Marketing Internal and External Methods of Promoting Sales for a Product/Service Internal Promotion • Essential for successful marketing to target market • Includes comprehensive training and education of products and services • Complete understanding of features and benefits of product/service • Complete understanding of customers’ needs Goals of Internal Promotion • Provide key customer service, support, services, sales and marketing personnel with the knowledge and understanding of product • Ensure all instructional materials and documentation readily available for ongoing training • Build continuous, on-going training of product knowledge into system Methods of Internal Promotion • Workshops • Training Seminars • Videos • Vendor Presentations and Training • Vendor Trade Shows • Trade Promotions Trade Promotions Marketing campaign directed at wholesalers and retailers rather than the final consumer Examples of Trade Promotions • Free Racks/Stands- POS materials • Discount Pricing in addition to trade allowance • Incentives • Goal is to build demand from retailer • Training programs to boost sales • Sales literature External Promotions Promotion targets the customer (outside the organization) Goals of External Promotion • Build awareness among consumers of product/offering • Build demand for product/service • Increase sales for business Methods of External Promotion • Conduct customer needs assessments and develop promotion targeting needs • Special Events • Promote through various media (Advertising) • Sales Presentations to customer • Sales Promotions (coupons, raffles, etc) • Publicity/Public Relations Assignment • Students will work with a partner to develop an internal promotional plan for The Falcons’ Nest regarding the kick-off of the Helping Heroes Toy Drive. Prepare PPT presentation of how to promote this internally. 50 Points • Students will work with a partner to develop an external promotional plan for Helping Heroes applying the promotional mix. 50 Points