One way to understand how advertising functions is to look at its Social Utility. These are the benefits that advertising is supposed to provide society: Advertising encourages people to act in their self-interest While we would like to think that people would rely on their self-preservation instincts, reality seems to say otherwise. People smoke, drink, […]
The conventional theory Initial Satisfaction => Advertising => Desire to fill latent or unmet needs => Purchase => Greater Satisfaction Advertising is paid non-personal communication that promotes a product, person, service, organization, or idea. Messages are generally created for large audiences, and conveyed through Mass Media. Advertising generally falls into 2 classifications Product Product advertising […]
This is the one-on-one relationship between a sales rep and a customer, and is arguably the most successful form of promotion. Personal selling targets the very best Prospects, or potential customers, and provides immediate feedback that can be applied to the marketing strategy as well as the Selling Process. There are 6 steps in a […]
Promotions are not a “retail only” endeavor. Many promotional methods coincide with national advertising campaigns. This generates support and enhances the effectiveness of these campaigns. There are 3 common promotional methods Trade Allowances Trade allowances push products down the distribution channel by providing discounts or other reimbursements to retailers that promote certain items. For example, […]
Sales promotions operate within advertising campaigns to motivate customers to visit the store and/or buy the product. By encouraging customers to buy items at a specific time and place, the consumer buying process is accelerated. For example, when brand advertising is combined with sales promotions, consumers are informed about the product or service while prompted […]
Six common steps Identify Target Market All marketing / advertising should be market driven. Define Objectives Most creative decisions will be based on the objectives. Knowing what needs to be accomplished is crucial in determining execution. Determine a budget Spend too little, the campaign will fail. Spend too much, and the money is wasted. Select […]
Generally, there are 2 Pushing This involves encouraging distribution partners to stock more inventory (buy more product). For example, a paper clip manufacturer’s sales rep (personal sales) might offer Staples a Trade Discount. Staples might turn around and offer a sale on paper clips that month to generate more foot traffic. Pulling The same manufacturer […]
Retail sales require a lot more “theater” than wholesale. A focused marketing attitude and an appealing environment are required. To this end, there are 5 considerations Merchandise The types and variety of products / services offered is a key element in how your store is perceived by the consumer. For example, bigger stores such as […]
