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Lecture Introduction to business - Lecture 26: 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 26 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 Promotion Part Of Marketing Mix Concerned With Most Effective Techniques for Selling Product. Information & Exchange Values Notify Potential Customers Educate Potential Customers Persuade Customers to Like Product Persuade Customers To Buy Create Exchange That Satisfies All Parties Promotional Objectives Communicate Information Position Products Add Value Communicate value added benefits Control Sales Volume Communicate Information Advise Customer Product Exists Educate Customer About Product Features Positioning Product How Product Is Positioned In Customer’s Mind Compared to Competition Identify Target Segments Competitors Value-Adding Benefits Warranties Repair Contracts After-Purchase Service Controlling Sales Volume Increase Promotion During Slow Periods A Measure Promotional Campaign Allows For Controlled Growth So Promises Do Not Exceed Ability To Deliver Promotional Strategies Pull Appeal Directly To Consumer To Create Demand Push Encourage Wholesalers & Retailers To Market To Consumers Push vs. Pull Push Product Pull Product Promotional Mix Advertising Personal Selling Sales Promotion Publicity & Public Relations Promotion & The Buying Decision 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 . | Lecture 26 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 Promotion Part Of Marketing Mix Concerned With Most Effective Techniques for Selling Product. Information & Exchange Values Notify Potential Customers Educate Potential Customers Persuade Customers to Like Product Persuade Customers To Buy Create Exchange That Satisfies All Parties Promotional Objectives Communicate Information Position Products Add Value Communicate value added benefits Control Sales Volume Communicate Information Advise Customer Product Exists Educate Customer About Product Features Positioning Product How Product Is Positioned In Customer’s Mind Compared to Competition Identify Target Segments Competitors Value-Adding Benefits Warranties Repair Contracts After-Purchase Service Controlling Sales Volume Increase Promotion .