GAO-06-660T Export Promotion: Trade Promotion Coordinating ...
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Transcript of Promotion
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Promotion
Professor Carl MelaBA 360 Marketing Management
Fuqua School of Business
• Introduction• Three C’s• Four P’s
– Product– Placement– Promotion– Price
• Summary
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Agenda
• The promotional mix• 7 steps in developing a promotional plan
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Marketing mix
• Promotion mix– Advertising– Selling– Sales Promotion– Publicity– Direct Marketing
• Product• Price• Distribution
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The Communication Process
Sender EncodingMedia
Decoding Receiver
Feedback Response
Message
Noise
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Issues in Communication Process
• Encoding - Translating Thoughts Into Symbolic Form• Message - Common Experience• Decoding and Receiving
- Selective Attention- Selective Distortion (Amplification & Leveling)- Selective Recall - Long Term Memory (Rehearsal & Positive Attitude)- Short Term Memory
• Response (Attitudes)- Monopoly on Attention, In Line With Existing Opinion, Unfamiliar and Lightly Felt, Reference Group Approval, Source Credibility- Credibility - Expertise, High Status, Objectivity, Likability, Power
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Steps in DevelopingPromotional Plan
• 1. Identify Target Audience
• 2. Determine The Communication Objective
• 3. Design The Message
• 4. Decide on The Promotional Mix
• 5. Allocate The Promotional Budget
• 6. Measure The Results
• 7. Manage And Coordinate The Process
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1. Identify Target Audience
• Potential new buyers• Current users• Influencers
– People who may not buy but influence decisions of those who may
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2. Set the Objectives
• Hierarchy of effects model
Awareness Knowledge Liking PurchaseConvictionPreference
ImpliesCognition Affect ActionMay not always be the appropriate model
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Some Common Communication/Promotion Tools______________________________________________________Advertising Sales Publicity Personal
Promotion Selling ____
Print & broadcast ads Contests, games, Press Kits Sales Packaging-outer sweepstakes Speeches presentationsPackaging inserts lotteries Seminars Sales meetingsMailings Premiums& gifts Annual reports TelemarketingCatalogs Sampling Charitable Incentive programsMotion pictures Fairs/trade shows donations Salesmen samplesHouse magazines Exhibits Public relations Fairs & trade showsBrochures & booklets DemonstrationsPosters & leaflets CouponingDirectories RebatesReprints of ads Low-interest financingBillboards EntertainmentDisplay signs Trade-in allowancesPoint of purchase displays Trading stampsAudiovisual material Tie-insSymbols & logos
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Sampling
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2. Set the Objectives
IMMEASURABLE– Increase awareness
– Motivate purchase behavior
MEASURABLE– Increase awareness among 18-
to 32- year olds by 25% within 3 months
– Increase market share among first time purchasers from 2% to 5% of the market within 1 year
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3. Design the Message
• What To Say (Message Content)- Appeal (Rational, Emotional, Moral), Theme, Idea
• How To Say It Logically (Message Structure)- Conclusion Drawing, One vs. Two Sided Messages
• How To Say It Symbolically (Message Format)- Print (Color, Headline, Illustration, Demonstration, Testimonial, Payoff, Image); Radio (Voice, Vocalization, Script); TV (All above)
• Who Should Say It?- Source Credibility (As Earlier Discussed)
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3. Designing the Message
• Who Should Say It?
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Step 4 - Decide On Promotional Mix
• Advertising– Public, Pervasive, Expressive, Impersonal
• Sales– Confrontive, Cultivative, Responsiveness of Buyer
• Sales Promotion– Communication, Incentive, Invitation
• Publicity and Public Relations– Credibility, Reach, Dramatization
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AIDAS and the Mix
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Push v. Pull
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Consumer v. Industrial
ConsumerProducts
IndustrialProducts
Selling Medium HighAdvertising High MediumSales Promotion High MediumPublicity and PR Low Low
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Promotional Mix For BusinessTo Business
Direct Marketing
34%
Trade Shows23%
Sales Promotion
8%
Advertising9%
Incentives17%
Public Relations
3%Sales Force
Management6%
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Promotional Mix for B to B
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Comparison of Two Most Commonly Used Promotion Tools
Advertising• Builds equity• Benefit emphasis• High marketer control• End-user is target• Pull• Can take a long time to
have effect
Trade Promotion• Not much equity built• Price emphasis• Low marketer control• Trade is target• Push• Usually effective
immediately
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5. Set the Budget
• Affordable method– Budget what is thought affordable
• Percentage of sales method• Competitive parity method• Objective and task method
– Define specific objectives– Determine tasks necessary to achieve objectives– Estimate costs of performing these tasks
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6. Measure the Results
• Attitude and awareness objectives– Pre-promotion level vs. post-promotion level
• Behavioral objectives– Changes in sales (noisy)– Test markets
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Key Take Aways
• The promotional mix• 7 Steps in developing a promotional plan
– Identify target– Set objectives– Design message– Determine promotional mix– Allocate budget– Measure results– Manage the process