Difference between revisions of "Principles of marketing/PMKT103/Leveraging promotion tools/Overview"
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Many organizations use promotions to generate excitement and interest in their products - with giveaways, competitions, advertising, sales, and more. For example, regarding the image on this page, Starbucks frequently provides free samples of new product introductions, to generate sales, customer excitement, social sharing (of the images on the web) and customer feedback. | Many organizations use promotions to generate excitement and interest in their products - with giveaways, competitions, advertising, sales, and more. For example, regarding the image on this page, Starbucks frequently provides free samples of new product introductions, to generate sales, customer excitement, social sharing (of the images on the web) and customer feedback. | ||
| − | For every promotion, it is important to have a realistic picture of costs; a timeline for results and expected return on investment (ROI). Costs can include product samples, direct salaries, commissions (per unit), operations support (including public and media relations), campaign evaluation and re-targeting. | + | [https://en.wikipedia.org/wiki/Guerrilla_marketing Guerilla marketing] is a promotion strategy an advertising strategy in which low-cost unconventional means (graffiti or street art, sticker bombing, flash mobs) are used, often locally, or with a larger network across cells / hubs to promote a product or an idea. |
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| + | For every promotion, it is important to have a realistic picture of costs; a timeline for results and expected return on investment (ROI). Costs can include product samples, direct salaries, commissions (per unit), operations support (including public and media relations), campaign monitoring, evaluation and re-targeting. | ||
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Revision as of 22:14, 16 May 2016
As the fourth "P", promotion and promotional tools are focused on raising customer / stakeholder awareness of a product or brand's unique value; put in place a 'call to action'; generate sales; create brand loyalty and satisfaction post-purchase. The promotional mix often includes direct (personal) selling; advertising (including the web), sales promotion, direct marketing, and publicity.
Promotional objectives include: showing consumers information about the product; increasing demand; and differentiating it from competitors' offerings, by highlighting its differences and distinctiveness. The end-result can include: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image.
Many organizations use promotions to generate excitement and interest in their products - with giveaways, competitions, advertising, sales, and more. For example, regarding the image on this page, Starbucks frequently provides free samples of new product introductions, to generate sales, customer excitement, social sharing (of the images on the web) and customer feedback.
Guerilla marketing is a promotion strategy an advertising strategy in which low-cost unconventional means (graffiti or street art, sticker bombing, flash mobs) are used, often locally, or with a larger network across cells / hubs to promote a product or an idea.
For every promotion, it is important to have a realistic picture of costs; a timeline for results and expected return on investment (ROI). Costs can include product samples, direct salaries, commissions (per unit), operations support (including public and media relations), campaign monitoring, evaluation and re-targeting.
