What are the advantages and disadvantages of guerrilla marketing?

A: low cost, attracts attention, less competitors.

D: limited exposure, may offend if too outrageous.

What are advantages and disadvantages of public relations?

A: positive attitude towards company, increase credibility

D: may not allow accurate measurement of impact on sales, much effort directed towards non-market-oriented goals.

What are the advantages and disadvantages of Direct marketing?

A: immediate response, wide audience with targeted advertising, customized message, measurabel results.

D: image problem, sometimes seen as annoying, high cost per reader, relies on mailing list accuracy.

What are the advantages and disadvantages of Sales promotion?

A: Immediate consumer response, attracts attention and creates awareness, easy measurement of results, short-term sales increases

D: Non-personal, difficult to differentiate from competitors

What are the advantages and disadvantages of advertising?

A: relatively cheap per exposure, strict control over message, can be mass audience or specific segment.

D: Doesn't permit accurate measurement of results, usually doesn't close a sale.

What are the advantages and disadvantages of personal selling?

A: Permits measurment of effectiveness, immediate response, tailored message to customer

D: expensive per contact, relies soley on salespersons' ability

When would it be appropriate to use professional selling in the promotional strategy?

salespeople can create customer value

-by being close to the customer, salespeople can identify creative solutions to customer problems

-by easing the customer buying process

-by salespeople who follow through after the sale

customer value creation is made possible by relationship selling

What activities are included in the practice of personal selling?

sales activities occurring before and after the sale itself, consisting of six stages:

(1) prospecting

(2) preapproach

(3) approach

(4) presentation

(5) close

(6) follow up

What factors must be considered when formulating the optimal promotional mix?

Answer: Nature of the Product, Nature of the Market, Available Funds, Stage in Product Life Cyle, Price,

Describe the six elements of the promotional mix:

a) personal selling

A process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation.

b) advertising

Presentation and promotion of ideas, goods, or services by an identified sponsor.

c) sales promotion

Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.

d) direct marketing

is a channel-agnostic form of advertising that allows businesses and nonprofits to communicate straight to the customer.

e) guerilla marketing

innovative, unconventional, and low-cost marketing techniques aimed at obtaining maximum exposure for a product.

Paid intimate stimulation of supply for a product, service, or business unit by planting significant news about it or a favorable presentation of it in the media.

f) public relations

Public relations (PR) is the practice of managing the flow of information between an individual or an organization and the public.

How can you determine whether a company is using integrated marketing communication?

Answer: Everyone is using the same sales message in a variety of marketing communications

What is integrated marketing communication (IMC)?

Answer: IMC is the application of consistent brand messaging across both traditional and non-traditional marketing channels and using different promotional[disambiguation needed] methods to reinforce each other.

As defined by the American Association of Advertising Agencies, integrated marketing communications " ... recognizes the value of a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines advertising, public relations, personal selling, and sales promotion and combines them to provide clarity, consistency, and maximum communication impact."

Describe the five objectives of promotion:

a) provide information

Some promotion is designed to assist customers in the search stage of the purchasing process. In some cases, such as when a product is so novel it creates a new category of product and has few competitors, the information is simply intended to explain what the product is and may not mention any competitors. In other situations, where the product competes in an existing market, informational promotion may be used to help with a product positioning strategy. As we discuss in the Targeting Markets tutorial, marketers may use promotional means, including direct comparisons with competitor's products, in an effort to get customers to mentally distinguish the marketer's product from those of competitors.

b) increase demand

The right promotion can drive customers to make a purchase. In the case of products that a customer has not previously purchased or has not purchased in a long time, the promotional efforts may be directed at getting the customer to try the product. This is often seen on the Internet where software companies allow for free demonstrations or even free downloadable trials of their products. For products with an established customer-base, promotion can encourage customers to increase their purchasing by providing a reason to purchase products sooner or purchase in greater quantities than they normally do. For example, a pre-holiday newspaper advertisement may remind customers to stock up for the holiday by purchasing more than they typically purchase during non-holiday periods.

c) differentiate a product

New products and new companies are often unknown to a market, which means initial promotional efforts must focus on establishing an identity. In this situation the marketer must focus promotion to: 1) effectively reach customers, and 2) tell the market who they are and what they have to offer.

d) accentuate value

Moving a customer from awareness of a product to making a purchase can present a significant challenge. As we saw with our discussion of consumer and business buying behavior, customers must first recognize they have a need before they actively start to consider a purchase. The focus on creating messages that convince customers that a need exists has been the hallmark of marketing for a long time with promotional appeals targeted at basic human characteristics such as emotions, fears, sex, and humor.

e) stabilize sales

Once a purchase is made, a marketer can use promotion to help build a strong relationship that can lead to the purchaser becoming a loyal customer. For instance, many retail stores now ask for a customer's email address so that follow-up emails containing additional product information or even an incentive to purchase other products from the retailer can be sent in order to strengthen the customer-marketer relationship.