Promotion
use of advertising, sales promotion, personal selling , sponsorship etc to inform the actual or petential consumer and persuade them to buy the product and service
Promotion mix
Combination of promotional techniques that a firm can use to sell a product
Types of Promotion mix (6)
- Advertising promotion
- Sales promotion
- Direct promotion
- Digital promotion
- Packing
- Branding
Advertising promotion
Paid for means of communication. Done through diffrent media like newspaper, radio, televison internet etc. Aim is to increase sales and build brand loyalty
Informative Advertsting
Gives information about potential purchasers rather than just trying to create a brand name. It gives information like price, feature, placce of purchase. used for a new product
Persuasvie advertising
Aim to create a distinct brand iamge or idendity for the prodcut, Used in competitve markets and aim to create a percived diffrence in mind of customers
Advantages of Advertisng promotion
- Wide coverage - wide audience
2, Control of messge - Brand building - prodcut placment and sponsorship
Disadvantages of Advertsising promotion
- Annoyed of ads
- Expensive to advertise on TV
Method of Adverstising
- Print - Newspaper, magzine, specalist
- Brodcast - TV and Radio
- Outdoor - billboards
- Product placment
- Guerrilla Adverstising - uncomventianl events
- Sponsorship - Associationg with a team , event or individual
Factors to consider before choosing adverstiing method
- Cost
- Consumer profile (market segment)
- Message to be communicated
- Legal constrain
Sales Promotion
Incentive such as special offers or special deals directed at consumers or rtailers to achive short term sales increses and repeat purcahse by consumer
Advantages of Sales Promotion
- Attract new customers and allow existing customers to buy more
- Maintain customer base and encourage repeated purchase
Disadvatnefs of sales promotion
- Short term effect
- Reduced short term profit
- Brand image - low quality
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