Week 10
Week 10
Promotion
The Promotion Mix
• Advertising
–
–
–
–
Can reach geographically disperse buyer masses Seller can repeat the message several times
It is impersonal and one-way
Could be costly in some media
• Personal selling
–
–
–
–
Implies personal interaction between two or more individuals
Most efficient tool to create preferences, convictions and actions
Allow creation of relationships
Most costly promotional tool, requres long term commitment
Fundamentals of Global Marketing
© Juan Carlos Rosa-Medina, MBA
2
1
The Promotion Mix…cont.
• Sales promotion
–
–
–
–
–
Wide assortment of tools
Attracts consumer attention
Offers strong incentives to buy
Invites and rew ards quick consumer response
Effects are short-lived.
• Public relations
– Very believable
– Reaches people w ho avoid salespeople and ads.
– Can dramatize a company or product
– Tends to be used as an afterthought
– Planned use can be effective and economical.
Fundamentals of Global Marketing
© Juan Carlos Rosa-Medina, MBA
3
The Promotion Mix…cont.
• Direct marketing
– Has many forms that share for characteristics:
•
•
•
•
Nonpublic
Immediate
Customized
Interactive
– Well suited for very targeted efforts
Fundamentals of Global Marketing
© Juan Carlos Rosa-Medina, MBA
4
2
Integrated Marketing
Communications
•
The New Marcom landscape
–
–
•
A new communications model
–
–
•
Marketers shifting away from mass marketing
Improvements in IT accelerates the move towards segmented marketing, and changes the way in which companies and customers communicate Less broadcasting and more narrowcasting…fragmentation of markets, smaller consumer clusters
Mix consisting of traditional media + nontraditional, personalized media
Need for IMC
–
–
–
To have a single voice with a clear, consistent, and compelling message
To recognize all contact points where the customer might have an encounter with us
To elicit the right response from the customer
How can we find ways to let our
customers
Promotion
The Promotion Mix
• Advertising
–
–
–
–
Can reach geographically disperse buyer masses Seller can repeat the message several times
It is impersonal and one-way
Could be costly in some media
• Personal selling
–
–
–
–
Implies personal interaction between two or more individuals
Most efficient tool to create preferences, convictions and actions
Allow creation of relationships
Most costly promotional tool, requres long term commitment
Fundamentals of Global Marketing
© Juan Carlos Rosa-Medina, MBA
2
1
The Promotion Mix…cont.
• Sales promotion
–
–
–
–
–
Wide assortment of tools
Attracts consumer attention
Offers strong incentives to buy
Invites and rew ards quick consumer response
Effects are short-lived.
• Public relations
– Very believable
– Reaches people w ho avoid salespeople and ads.
– Can dramatize a company or product
– Tends to be used as an afterthought
– Planned use can be effective and economical.
Fundamentals of Global Marketing
© Juan Carlos Rosa-Medina, MBA
3
The Promotion Mix…cont.
• Direct marketing
– Has many forms that share for characteristics:
•
•
•
•
Nonpublic
Immediate
Customized
Interactive
– Well suited for very targeted efforts
Fundamentals of Global Marketing
© Juan Carlos Rosa-Medina, MBA
4
2
Integrated Marketing
Communications
•
The New Marcom landscape
–
–
•
A new communications model
–
–
•
Marketers shifting away from mass marketing
Improvements in IT accelerates the move towards segmented marketing, and changes the way in which companies and customers communicate Less broadcasting and more narrowcasting…fragmentation of markets, smaller consumer clusters
Mix consisting of traditional media + nontraditional, personalized media
Need for IMC
–
–
–
To have a single voice with a clear, consistent, and compelling message
To recognize all contact points where the customer might have an encounter with us
To elicit the right response from the customer
How can we find ways to let our
customers