Title: 6.01Understand Promotions and the Promotional mix
1 6.01 Understand Promotions and the Promotional mix 2 Promotion is
Any form of communication a business uses to inform remind or persuade customers to purchase products and improve its public image
For example How do you learn about new products in the marketplace i.e. Harris Teeter places circular advertisements in the newspaper to inform customers of its weekly specials.
3 Institutional vs. Product Promotion
Used in an effort to create a positive image build goodwill and increase customer loyalty for the business.
For example a local hardware store sponsors a neighborhood little league team.
4 Institutional vs. Product Promotion
Used to increase sales of a business and its products. Product promotion is heavily used for new products.
For example Coca-Cola runs a series of television commercials to promote its newest cola beverage.
5 Elements of the Promotional Mix
Personal selling -
Planned personalized communication designed to satisfy a customers needs and wants.
For example a car salesperson listens to a customers requirements and then suggests a vehicle with the features and benefits to satisfy his/her wants and needs.
6 Elements of the Promotional Mix
Advertising Any non-personal form of communication designed to inform persuade or remind customers about a good or service. Advertisements are paid for by an identified sponsor.
For example TV radio and magazine ads.
7 Elements of the Promotional Mix
Sales promotions Communications or activities used to stimulate sales create awareness of a new product or to create goodwill for the business.
For example a Chinese restaurant offers free samples in the mall food court hoping customers will like the sample and purchase a full meal.
8 Whats in the promotional mix
Activities used to build and maintain a positive image about a company and its products.
For example Panera Bread Company donates its leftover bread to homeless shelters and charities in need
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