Unit 3 - Marketing

• Promotional mix is the combination of promotional tools used to communicate with target customers.
• Personal selling is an effective way to manage business to customer relationships
• The salesperson acts on behalf of the organisation
• Salespeople are well trained in the approaches and techniques of personal selling
• Salespeople are very expensive due to salary, training, and commission costs
• Above the line advertising (ATL) targets a mass audience through mediums such as TV adverts, online adverts, cinema adverts, and daily newspaper adverts
• Advantage of ATL advertising: Reaches a large audience
• Disadvantage of ATL advertising: Very expensive to create and air the advert
• Below the line advertising is more personal and targets niche markets
• It is used to create awareness and communicate information to gain a response from the target market
• Examples of below the line advertising mediums:

  • Leaflets/flyers
  • Posters
  • Local Radio advert
  • Billboard
  • Web Site banners and pop ups
  • Local newspaper adverts
  • Taxi sides
  • Magazines
  • Brochures
  • Local Magazines
  • YouTube
  • Facebook
  • iPhone apps
• Promotional activities can be either above-the-line (mass marketing) or below-the-line (targeted).
• Public relations is also known as PR
• PR aims to build a relationship between the business and the public, to create a favourable corporate image
• PR is unpaid communication about an organisation which appears in mass media
• Examples of public relations activities include:

  • Reviews in a paper of a product
  • Guest columns
  • Blogs
  • Fact sheets
  • Press releases
• Sponsorship:

  • Positive association of the product with a celebrity or a sport
  • Can be very expensive and cost millions
  • Difficult to tell what impact this has on brand loyalty or sales
• Social Media:

  • Very accessible and cheaper for businesses to use
  • Less control over context and reviews
  • Influencers in social media position themselves as experts in areas of their own interest
  • Social media influencers have built a reputation for their knowledge and expertise on a specific topic
  • They make regular posts about that topic on their preferred social media channels and generate large followings of enthusiastic, engaged people who pay close attention to their views
• • Brands love social media influencers because they can create trends and encourage their followers to buy products they promote
  • Social media influencers are social relationship assets with which brands can collaborate to achieve their marketing objectives
• Viral Marketing:

  • Uses existing social media networks to promote a product
  • Relies on an audience to organically generate and push the message of a product or service
  • Video content has been proven to be some of the most "virulent" content shared in this way
  • Helps businesses gain significant audiences for their brands, products, and services
• Sales Promotions:

  • BOGOFF
  • Price discounts
  • Money off coupons
  • Samples/giveaways
• Reasons why a business would use promotion:

  • Increase sales
  • Attract new customers
  • Encourage customer loyalty
  • Create an image
  • Change attitudes