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• Promotion


  Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence their opinion or elicit a response

  
• Role of promotion in marketing mix


  • Marketing manager determines the goals of the company's promotional strategy in light of the firm's overall goals for the marketing mix—product, place (distribution), promotion, and price
  • The main function of a marketer's promotional strategy is to convince target customers that the goods and services offered provide a competitive advantage over the competition

  
• Goals of promotion


  • Informing
  • Persuading
  • Reminding
• AIDA concept


  A model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; the acronym stands for attention, interest, desire, and action

  
• Promotional mix


  • Advertising
  • Public relations
  • Personal selling
  • Sales promotion

  
• Factors affecting promotional mix

  • Nature of the product
  • Stages in the product life cycle
  • Target market characteristics
  • Type of buying decision
  • Available funds
  • Push and pull strategies

  
• Major types of advertising

  • Institutional advertising
  • Product advertising

  
• Types of product advertising

  • Pioneering advertising
  • Competitive advertising
  • Comparative advertising

  
• Major public relations tools

  • New-product publicity
  • Product placement
  • Consumer education
  • Sponsorships
  • Internet web sites
• Tools for consumer sales promotion

  • Coupons and rebates
  • Premiums
  • Loyalty marketing programs
  • Contests and sweepstakes
  • Sampling
  • Point-of-purchase (P-O-P) promotion
  • Online sales promotions

  
• Advantages of personal selling

  • Provides detailed explanation or demonstration of the product
  • Sales message can be varied according to the motivations and interests of each prospective customer
  • Can be directed only to qualified prospects
  • Costs can be controlled by adjusting the size of the sales force
  • More effective than other forms of promotion in obtaining a sale and gaining a satisfied customer