5.03 coordinate promotional efforts sem ii. consider the audience implementation of the push or pull...

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