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Promotion

  1. 1. Business Studies Patrick Ahern
  2. 2. What is promotion?  Can you provide some good examples of promotion and explain your reasons?  Why does a business need to promote? 
  3. 3. Identify Product Placement  Define the need for a business to promote.  Apply a promotional mix, taking into consideration target market in a given business.  Analyse how a small business could utilise promotional mix effectively to gain sales. 
  4. 4. This was illegal (against the law) in the UK till last year  It is getting a product seen via different media  The last James Bond film made $54million from companies paying to get their product on the film. i.e. Omega and Aston Martin 
  5. 5. Promotion is all about communication  You are telling customers about a product.  The aim is to persuade the customers to buy the product.  Build on brand awareness, and for customer to choose product ahead of competitors.  The part of the marketing mix where it is decided how a product should be marketed or sold. 
  6. 6.  Above the line  Below the line  Any fee is paid to an advertising agency  Normally focused on selling the product  Normally several different techniques used to achieve effect  Personal selling  Public relations  Direct mail  Merchandising  Point of Sale  Often used to gain brand awareness or get products in the mind of consumers
  7. 7. Advertising - is communication with the public through one or more of the range of media available. In business, advertising is one aspect of promotion.  Promotion - The part of the marketing mix where it is decided how a product should be marketed or sold. 
  8. 8. Make customers more aware of a product.  Increase awareness of a product.  Remind consumers about a product.  Encourage consumers to switch to rival product.  Increase market share. 
  9. 9.         Advertising. Direct Selling. Direct Marketing. Public Relations. Incentives. Sales Promotion. Internet – advertising, social media, search engine. WOM – word of mouth.
  10. 10.  The competitiveness of the market.  Availability of product.  Differentiation of the product.  Competitor’s activity.  The product life-cycle.
  11. 11. Cost.  Size of target audience.  Size of the market.  Consumer – changing trends, media they consume.  What competitors are doing.  Legal constraints.  Other elements of the marketing mix – integrated marketing campaign. 
  12. 12. ◦ Awareness - get the customers aware of the product. ◦ Interest - gain their interest and commitment. ◦ Desire - arouse their desire through special offers and sales promotions. ◦ Action - get them to buy the product through a call to action.
  13. 13.  Advertising - is paid for communication through media such as television, newspapers or radio. Most advertising can be categorised as either informative or persuasive (or a combination of the two).  This is normally above the line Marketing
  14. 14.  Sales Promotion - the use of short term incentives to purchase, such as free offers, sampling and selling. Can be aggressive or defensive. Main purpose: ◦ To create the initial surge of demand to persuade shops to stock a newly launched product. ◦ To attract new buyers who the firm hopes will become a regular customer. ◦ To lock customers into buyer products when under threat from a new competitor.
  15. 15. Personal Selling - through sales representatives, who are mainly used for selling to business, also trade fairs and exhibitions.  Branding - establishing an identity for your product that distinguishes it from the competition. Successful branding adds value to an item and can ensure brand loyalty. 
  16. 16. After Sales Service and Customer Care (designed to build up customers’ loyalty so that they keep coming back).  Direct Marketing (through personally addressed mailing etc).  Sponsorship (of a person or an event).  Internet – growth of digital marketing.  WOM – Word of mouth. 
  17. 17.  Think about Coca Cola - where and how do they advertise?  Think about local SME’s - where and how do they advertise?  SME = Small Medium Enterprise
  18. 18. Examiners will always want the promotion to fit the firm e.g. small business.  Look at the methods and consider which of these can be applied to the situation you have been given. 
  19. 19.       Above the line promotion is promotion which is run through media. This includes: Radio TV Newspapers Cinema Above the line promotion is used to communicate with a wide audience.
  20. 20.   Below the line promotion refers to those promotional methods which do not depend upon media such as TV, radio, cinema and newspapers. There will be a mixture of These include: ◦ ◦ ◦ ◦ ◦ Direct Selling Direct Marketing Public Relations Incentives Sales promotion activities in a promotional campaign. It will include above the line and below the line promotion. This is known as the promotional mix.
  21. 21. Identify product placement  Define the need for a business to promote.  Apply a promotional mix, taking into consideration target market in a given business.  Analyse how a small business could utilise promotional mix effectively to gain sales. 

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