Podcast
Questions and Answers
What is one purpose of promotion in marketing?
What is one purpose of promotion in marketing?
- To remind customers of the product, image, or idea (correct)
- To confirm the product's quality
- To conduct market research
- To inform customers about new industry regulations
Which element is NOT a part of the promotional mix?
Which element is NOT a part of the promotional mix?
- Supply chain management (correct)
- Sales promotion
- Public relations
- Direct marketing
What describes the promotional mix?
What describes the promotional mix?
- A combination of marketing communications channels used to convey messages (correct)
- A comparison of competitors' promotional activities
- A fixed marketing budget for advertising
- A detailed pricing strategy for products
Which factor does NOT typically affect the selection of a promotional mix?
Which factor does NOT typically affect the selection of a promotional mix?
Which method could Katie use to attract new customers for her dog-care business?
Which method could Katie use to attract new customers for her dog-care business?
Which of the following is NOT an advantage of sales promotion?
Which of the following is NOT an advantage of sales promotion?
What is a potential negative consequence of relying heavily on sales promotions?
What is a potential negative consequence of relying heavily on sales promotions?
Which factor is critical for effective blended promotional strategies?
Which factor is critical for effective blended promotional strategies?
Sales promotion activities primarily serve to achieve which of the following?
Sales promotion activities primarily serve to achieve which of the following?
What is one disadvantage of advertising?
What is one disadvantage of advertising?
What role does the promotional mix play in a business's marketing strategy?
What role does the promotional mix play in a business's marketing strategy?
In what situation does advertising work best?
In what situation does advertising work best?
Which element of the promotional mix is characterized by personalized communication?
Which element of the promotional mix is characterized by personalized communication?
What advantage does personal selling have over advertising?
What advantage does personal selling have over advertising?
What is a key disadvantage of publicity?
What is a key disadvantage of publicity?
Which of the following statements about publicity is correct?
Which of the following statements about publicity is correct?
What is a common characteristic of personal selling?
What is a common characteristic of personal selling?
Which promotional mix element is best tailored for complicated messages?
Which promotional mix element is best tailored for complicated messages?
Which type of product typically requires more consideration by consumers before purchasing?
Which type of product typically requires more consideration by consumers before purchasing?
What is a key factor that influences the promotional mix according to the target market considerations?
What is a key factor that influences the promotional mix according to the target market considerations?
During which stage of the product life cycle is a product most likely to see high promotional efforts to build awareness?
During which stage of the product life cycle is a product most likely to see high promotional efforts to build awareness?
Which distribution channel strategy focuses on pushing products through intermediaries?
Which distribution channel strategy focuses on pushing products through intermediaries?
What company consideration may affect its promotional mix the most?
What company consideration may affect its promotional mix the most?
How has mobile technology impacted advertising strategies?
How has mobile technology impacted advertising strategies?
What concern arises when companies target customers using their habits tracked via technology?
What concern arises when companies target customers using their habits tracked via technology?
Which type of product is typically not actively sought by consumers until a need arises?
Which type of product is typically not actively sought by consumers until a need arises?
Study Notes
Promotion's Purpose
- To inform customers about a product, image, or idea
- To persuade customers to buy or form an opinion
- To remind customers about the product, image, or idea
Promotional Mix
- A specific blend of marketing communication channels
- Businesses use it to send messages to customers
Promotional Mix Elements
- Advertising
- Personal selling
- Publicity
- Sales Promotion
Advertising
- Any paid form of nonpersonal presentation of ideas, images, goods, or services
- It assigns a "face with a name" to a product
- It encourages short-term sales
- It builds product awareness
- It develops a brand image
When Advertising Works Best
- Product awareness is low
- Product features are not obvious
- Product needs to be differentiated from competitors' products
- Discretionary incomes are high
- Overall industry sales are rising
Advantages and Disadvantages of Advertising
- A large audience in a broad geographical area can be reached
- Cost per contact is low
- Often tuned out
- It must be seen multiple times to be meaningful
- It is difficult to track results and effectiveness
- Not good for complicated messages
Personal Selling
- Determines client needs and wants
- Planned, personalized communication
- Influences purchasing decisions
- Enhances future business opportunities
Advantages and Disadvantages of Personal Selling
- Immediate feedback and flexibility
- Viewed as more credible
- Ideal for complicated messages and highly specialized, technical products
- Most effective form of promotion but also the most expensive
Publicity
- An identity-building tactic
- Nonpersonal presentation of ideas or products
- Not paid for by the company who benefits
Advantages and Disadvantages of Publicity
- Viewed as more credible
- It is seen as news
- Builds goodwill and a positive image for a business
- It is non-personal with little or no direct interaction
- Businesses have little control over publicity
Sales Promotion
- Promotional activities, other than advertising, personal selling, and publicity that stimulate customer purchases
Advantages and Disadvantages of Sales Promotion
- It is measurable
- Low cost per exposure
- Attracts new customers and generates excitement
- Encourages quick responses
- It provides added value
- It helps boost repeat purchases
- Helps to sell older stock
- May help to extend declining product's life cycles
- Short-term in nature
- Not good for delivering complicated messages
- Can cheapen a company’s image
- May cause customers to develop a "no bonus, no buy" attitude
Importance of the Promotional Mix
- Plays a key role in obtaining customers
- Enables businesses to communicate effectively with customers
- Drives sales
Blended Promotional Strategies
- Marketers combine elements of the promotional mix
- Examples include sponsorship and guerilla marketing
Factors Affect The Selection of A Promotional Mix
- Product being sold
- Target market
- Channels of distribution
- The company itself
Product Considerations
- Type of product
- Convenience products
- Shopping products
- Specialty products
- Unsought products
- Stage of product life cycle
- Introductory Stage
- Growth Stage
- Maturity Stage
- Declining Stage
Target Market Considerations
- Type of customer
- Number of customers
- Geographic location of customers
Distribution Channel Considerations
- Multiple intermediaries
- Direct to ultimate consumer
- Promotional strategies
- Push
- Pull
Company Considerations
- Historical perspective
- Available funds
- Competition
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Description
Test your knowledge on marketing promotions, the promotional mix elements, and the effectiveness of advertising. This quiz covers the strategies used to inform, persuade, and remind customers about products and services. Dive into the advantages and disadvantages of advertising to enhance your understanding.
