Do not be fooled into thinking that advertising is all powerful. Since every human action is governed by some sort of psychological program, advertising almost always has to interrupt one in order to be effective. […]
As powerful and pervasive as advertising seems to be, it really isn’t a matter of “executing a Jedi mind trick on the sheep to separate them from their cash”.
When all is said and done, the consumer will either accept or reject the product on the basis of their experience with it. However, the messages that they receive from advertising will likely affect how the consumer expects that experience to go. […]
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, […]
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 […]
Having a great product at the right price in the right store at the right time means nothing if nobody knows it’s there. Communicating the features and benefits of the product and informing the target market where to find it falls to the promotion element of the marketing mix. Promotional messages should support the theme […]
A solid distribution strategy can improve service, enhance a company’s reputation, and increase their market share. To this end, a good distribution strategy tries to do 3 things Meet Customer demands Building a quality product with lots of cool features that is sold at a low price means nothing if that item is unavailable when […]
The effectiveness of any marketing/distribution channel depends on the success of the intermediaries. Selecting these intermediaries is often the result of a 4-step process. Create Partner Criteria An intermediary must compliment a manufacturer’s goals, objectives, and strategies. For example, to maintain their prestige status, Ferrari may demand that potential dealerships meet eligibility requirements including minimum […]
Manufacturers typically follow a 5-step process in the creation and management of distribution strategies. Develop the Strategy As with any strategic decision, the company’s goals and mission statement have to be taken into account. Then go back to the target market and think about how to effectively reach that market. Select Distribution Partners Create specific […]
Marketing Channels or Distribution Channels include everyone who has a part in getting finished goods to the consumer. They are comprised of Intermediaries or Distribution Partners who work in concert to get the right amount of product to the right place for consumers to buy it. A given distribution channel may include a Manufacturer, a […]
Price is often the most difficult portion of the marketing mix to get right. The final price can affect the design, the production, the profit, and your brand image. In deciding how to manage pricing, there are 6 considerations: Company Objectives Try not to ignore your company’s mission statement when establishing pricing strategies. For Example, […]
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