5.03 coordinate promotional efforts sem ii. consider the audience implementation of the push or pull...
TRANSCRIPT
5.03 CoordinatePromotional Efforts
SEM II
Consider the Audience
Implementation of the push or pull strategies will depend on the identified target market Push strategies – used by
a manufacturer to convince or “push” retailers to carry and promote products in their retail establishments. Relies heavily on personal selling and sales promotion
Pull Strategies are directed towards customers to increase their interest and demand for products. Customers will “pull” or convince retailers to carry the products. Relies heavily on advertising.
Consider the Audience (Continued)
Primary target markets are the core group of consumers on which promotional efforts are focused.
Secondary target markets are consumers who occasionally purchase the product because of one identifying factor.
Audience includes: Influencers Decision-makers Followers Purchasers
Identify objectives
Inform consumers of the product Persuade the consumers to purchase the
product Remind the consumers of the availability
and benefits of the purchase
Discuss the promotional mix
Should be interdependent and utilize several promotional tools
Marketers should consider the following when selecting promotional tools:
Product life cycles Consumer segmentation Current market
characteristics Consumer decision-making
process
Needs to be reviewed to ensure companies are reaching their intended audience
Methods of designing the promotional budget
Budget allotments Determine current
budget as a stand-alone budget, aside from the entire organization’s budget
Budget from previous year and future issues are not taken into consideration
Imitation on competitors Budget is set up to
mimic competitors
Methods of designing the promotional budget (continued)
Proportion of revenue Allocation of budget
based on percentage figures
Activity-based cost method Set objectives,
determine the costs and work within them
Develop a Media Strategy
Media is selected based on target market Advertisers must look for creative ways to
reach their audience and uniquely position their product due to advertising clutter
Venue advertising has increased as changes in technology allow for frequent changes to signage and sponsors
Develop a Media Strategy (continued)
Product demonstrations and on-site displays are growing in popularity Usually set up as pre-event entertainment
Internet offers new and innovative ways to promote products
Hospitality