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Lecture Introduction to business - Lecture 27: Promoting products

The following will be discussed in this chapter: Importance of promotion, advertising promotions, personal selling, sales promotions, publicity & public relations, promotional practices in small business, international promotional strategies. | Lecture 27 Chapter 13 Promoting Products Chapter Outline Importance Of Promotion Advertising Promotions Personal Selling Sales Promotions Publicity & Public Relations Promotional Practices In Small Business International Promotional Strategies Advertising Promotional Tool Consisting Of Paid, Non-Personal Communication Used By An Identified Sponsor To Inform An Audience About A Product. Advertising Strategies Depends upon product lifecycle Persuasive Stress Quality Influence consumers to buy a company’s product rather than the rivals Comparative Maturity Stage Two ore more products are directly compared Goal is to take sales from competition Reminder Decline Stage Keeps products names in consumer minds Advertising Media Television Direct Mail Newspapers Magazines Radio Outdoor Internet Data Mining & Warehousing Virtual Media Mix Media Mix By Industry Advertising Campaign ID Target Set Budget Define Objectives Create Message ID Media Evaluate Personal Selling Personal Selling Telemarketing Situations Retail Industrial Sales Force Management Top Management- Sets Goals Salespeople- Set Realistic Objectives Organize Sales Force To Meet Goals Implement/Evaluate Success Of Overall Sales Plan Personal Selling Tasks Order Processing Receives an order and sees to its handling and delivery Creative Selling Missionary Selling Promote company and the product rather than make sale Personal Selling Process Prospect & Qualify Approach Present Handle Objections Closing Follow-Up Sales Promotion Important because enhance recognition, increase sales and motivates the customer to try Coupons Point-Of-Purchase Purchasing Incentives Trade Shows Contests Sales Promotion Coupons Certificates entitling bearers to savings off regular prices Point-Of-Purchase Located at the end of aisles or at checkout counters Easier to find product and eliminate competition Purchasing Incentives Free samples or premium (free or reduced price items) Trade Shows Companies have booth in which they display . | Lecture 27 Chapter 13 Promoting Products Chapter Outline Importance Of Promotion Advertising Promotions Personal Selling Sales Promotions Publicity & Public Relations Promotional Practices In Small Business International Promotional Strategies Advertising Promotional Tool Consisting Of Paid, Non-Personal Communication Used By An Identified Sponsor To Inform An Audience About A Product. Advertising Strategies Depends upon product lifecycle Persuasive Stress Quality Influence consumers to buy a company’s product rather than the rivals Comparative Maturity Stage Two ore more products are directly compared Goal is to take sales from competition Reminder Decline Stage Keeps products names in consumer minds Advertising Media Television Direct Mail Newspapers Magazines Radio Outdoor Internet Data Mining & Warehousing Virtual Media Mix Media Mix By Industry Advertising Campaign ID Target Set Budget Define Objectives Create Message ID Media Evaluate Personal Selling Personal Selling .