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Advertising and Promotion

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Advertising and Promotion (MKT621)
VU
Lesson 29
MARKETING PLAN
OVERVIEW
This lecture will explain various sales and marketing plans. In a situation where in the business
affordability does not warrant large expenses the methods to promote business in low cost will
be explained moreover the criteria to identify customers will be highlighted in different
methods and situations.
SALES & MARKETING PLANS:
Every marketing plan outlines each marketing event or action plan to increase sales. The plan
will generally cover a calendar year staggered by a month or by quarter.
Sales and Marketing plan should be based on short and long term company objectives and
marketing strategy. In the business plan Sales & marketing plans provide outline of each
marketing event for the year, covering following information:
1. Description of each event vehicle (e.g. media, promotion, trade, sales).
2. Timing of each event.
3. Event goals & objectives (e.g. volume, share gains)
4. Cost of each event.
PROMOTING BUSINESS IN LOW COST:
Business promotion is to running a successful business and to plan how to promote business
infect business is promoted by getting the word out.
Basically there are two axioms which should be taken into consideration before working out the
in expensive ways to promote your business.
1st Axiom: It has to be done consciously. Other people can't be relied upon to do it for you.
2nd Axiom: Like every other aspect of business it is budgeted.
Though a budgeted activity the business promotion does not have to be necessarily expensive.
There are at least eight inexpensive ways to promote business.
Eight Ways:
1. Use of Paper & Electronic Document: e.g. business stationery an ideal tool articles &
press releases; email etc.
2. Articles & Press releases: Well written articles can provide free advertising & build
positive word of mouth. Likewise Newspapers are \also excellent place\ to place your
promotional article.
3. Sending Out Press Releases: Your press release has to actually contain information
that is newsworthy.
4. Talk Show: Radio TV, Cable TV may be looking for some guests for their programs. A
great low cost way to promote your business.
5. Seminar or Presentations: You have expertise that other people are interested in. Why
not share that & promote your business.
6. Use Vehicle: One in every few vehicles has the name and phone number of a business
decorated on it. Another low cost way to promote your business.
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Advertising and Promotion (MKT621)
VU
7. Leisure Activities: There are all kinds of things & ways to promote your business
while you do what you love to do.
8. Give out free things: Like first 50 people visiting a particular event will get free
things/gifts.
HOW TO IDENTIFY CUSTOMERS:
There are customers for every business but why should we want to classify. The reason is that
some customers are more profitable than others while in some cases all customers could be
equally profitable. Classifying customers helps to take right action for them, targeting your
marketing and serving their different needs while improving your profits. Therefore
categorizing customers into groups by needs & identifying what is important to them allows
you to serve them better while fulfilling their desires with your products.
SUPPLY CHAIN:
Depending upon what you are selling, you may find the actual end user is down the line ­ this
line is loosely called supply chain which represents "how" your product gets to your customers.
CUSTOMER:
A clear definition of who purchases directly from you is the simplest and most direct part of
classifying your customers.
NEW CUSTOMERS:
You can grow your existing business by going after new customers who are in your area but
who do not do business with you. There are many ways to do it...e.g.
·  Change pricing structure.
·  Advertise in different medium.
BUYER IDENTIFICATION:
Assuming that other factors in making the product available and known to buyer are in effect
Influences on the buyer is catalogued by:
1. Culture.
2. Demographics.
3. Lifestyle.
4. Psychology of wants & needs.
Besides the above influences on the buyer following other buyer Influences may be at work
under following circumstances:
1. Profitability of the item.
2. Discount deals available.
3. Advertising & promotion support programs.
4. Other cash deals.
5. Free goods available.
6. Sales Incentive programs.
7. Personal buyer seller relationship.
The above influences are further detailed below:
1.
Profitability of the item: The higher the margin/ profit per item vs. competitive
category products, trade accepts regardless of quality.
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Advertising and Promotion (MKT621)
VU
2.
Discount deals available: 10 to 25 % off invoices each time /quarter for all purchases
during the period are typical discounts for grocery & drug retailers.
3.
Advertising & promotion support programs: Multimedia TV, radio print & PR
support etc. can be used many times a year.
4.
Other cash deals: Misc. deals are offered, which are to capture customers with
conditions applied.
5.
Free goods available: Some times stores offer incentives like one case free etc.
6.
Sales Incentive programs: Special sales offering for greater productivity of sales
person.
7.
Personal buyer seller relationship: Personal relationship between people help in sales.
It should be remembered that:
The more exact the identification of your target buyer, the more efficient your marketing
programs would be in generating sales from regular or heavy users. But target buyers can be
divided into two main groups:
1. End users
2. Channel buyers.
The end users and the channel buyers are further elaborated below:
1.
End Users
If your customers are primarily the ultimate users of your product or service, identification is
generally in terms of demographics and lifestyles e.g.
Age - gender- ethnic background ­ income - education ­ location ­ occupation - number of
people / family - children's ages. Lifestyle analysis is more concerned with "intangibles".
Cultural background ­ religious beliefs political beliefs ­ value systems recreation & hobbies ­
music preferences ­ literature preferences - food preferences restaurant preferences ­
entertainment preferences - travel preferences social interaction patterns ­ media habits.
2.
Channel Buyers
If you sell to other businesses, who turn around and resell your products and services, your
buyers are mainly channel buyers. e.g.
1. Channel buyers from grocery & drug industry.
2. Whole country main distributors.
3. City / regional distributors.
4. Wholesaler buyers.
5. Individual store buyers.
The above various avenues clearly explain that ideally speaking you should always research
and test your idea against the realities of the market place. Basically well seasoned industry
expert always benefit from the analysis of the market environment in such a way that will help
them to evaluate the potential of an idea.
Channels are classified as under:
1. Business to business markets.
2. Government.
3. Consumer markets.
B to B & government buyers are subject to many different influences than buyers of consumer
goods.
i. Few buyers
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Advertising and Promotion (MKT621)
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ii. Larger business transactions.
iii. Regional concentration of buyers.
iv. Defined sales & broker relationships.
v. Dependent upon end-user buying patterns & demand.
vi. Demand for goods & services are not significantly affected by significant change in
price.
Business buyers take many factors into account before taking any buying decision. e.g.
i. Macroeconomic trends, nationally & internationally.
ii. Long term material supply trends & inventory requirements.
iii. Delivery rates, timing & reliability.
iv. Plant capacities.
v. Supplier's financial resources.
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Table of Contents:
  1. INTRODUCTION TO ADVERTISING:Its growing importance, Explanation of Personal and non-personal selling
  2. INTRODUCTION TO ADVERTISING:ADVANTAGES, Communication, Information, Various Media
  3. INTRODUCTION TO ADVERTISING:FUNCTIONS OF ADVERTISING, IMPACT OF ADVERTISING
  4. ADVERTISING AND SOCIETY:PRACTICAL BENEFITS, ETHICS IN ADVERTISING, Marketplace & Market space
  5. MARKETING TOOLS:COMPONENTS OF MARKETING MIX, PRODUCT LIFE CYCLE (PLC) CURVE
  6. MARKETING TOOLS:SWOT Analysis, Contents & Structure, ROLE & FUNCTION OF ADVERTISING
  7. ROLE AND FUNCTIONS OF ADVERTISING:Structure of an Advertising Agency, How to Select an Advertising Agency
  8. ADVERTISING PLANNING:ADVERTISING OBJECTIVES, Types of Advertising, Positioning Strategies
  9. POSITIONING:BRANDING, 7 Steps of Creative Process, UNIVERSAL ADVERTISING STANDARDS
  10. ADVERTISING MESSAGE:Message Content, BASIC TERMS & CONCEPTS
  11. ADVERTISING BUDGET:4 Methods to determine, ADVERTISING RESEARCH, ADVERTISING RESEARCH
  12. ADVERTISING REACH:BROAD COMMUNICATION OBJECTIVES, ADVERTISING COPY METHODS, MEDIA RESEARCH
  13. PRE – PLACEMENT EVALUATION:ACCOUNT PLANNING, MARKET, COMPETITION
  14. WORKING OF ADVERTISING:12 Steps to develop effective campaign, SOURCE or THE ADVERTISER
  15. ADVERTISING RESPONSE HIERARCHY MODELS:AIDA MODEL, PROCESS REQUIRED TO GET BIG IDEA
  16. PROBLEM SOLVING STRATEGIES:Procedure to Handle Problems, In brief, Eight principles apply to consumer behavior
  17. CONSUMER BEHAVIOUR:ADVERTISING APEALS, MEDIA MIX DECISIONS, Target Rating Point (TRP)
  18. CREATIVITY IN ADVERTISING:Three aspects are most accepted, Four Rules of Creativity
  19. COPY WRITER:CHARACTERISTICS OF COPYWRITER, IMPORTANCE OF LANGUAGE
  20. WHY ADVERTISING:Advertising & Market Education, ADVERTISEMENT CAMPAIGNS
  21. METHODS TO APPRECIATE A PROBLEM:SPONSORSHIP—an important tool, Special Characteristics
  22. IMPORTANT TOOL OF ADVERTISING:TELEVISION ADVERTISING, TRANSIT ADVERTISING
  23. ONLINE ADVERTISING:Banners, Logos, Email Ads, Keywords on Search Engines, New Developments
  24. ONLINE ADVERTISING:Structural Challenges, Adobe Photoshop, JAVA, HTML, DHTML, ASP & JSP
  25. SALES PROMOTION:Consumer Oriented Promotion, HOW TO USE TRADE PROMOTION, Dealing with the Trade
  26. PUBLICITY:PERSONAL SELLING, ROLE OF SALES PERSON, FUTURE OF GLOBAL ADVERTISING
  27. MARKETING ENVIRONMENT:Competitors, The Target Buyer, Segmenting your Market, FUTURE OF MARKET GROWTH
  28. MARKETING PLAN:Situational Analysis, Macro – Environment Situation, Marketing Objectives, Financial Objectives
  29. MARKETING PLAN:PROMOTING BUSINESS IN LOW COST, SUPPLY CHAIN, BUYER IDENTIFICATION
  30. HOW TO BE GOOD CLIENTS:CHANNEL BUYERS, HOW TO BE GOOD CLIENTS 14 RULES
  31. CLIENT – AGENCY RELATIONSHIP:HOW TO KEEP CLIENTS (10 Ways), Three Points for Consideration
  32. CLIENT – AGENCY RELATIONSHIP:ADVERTISING WITHOUT AN AGENCY, LOGO AND CORPORATE IDENTITY
  33. NEWSPAPER ADVERTISING:AD PRODUCTION,TYPES OF NEWSPAPER ADS, CIRCULATION
  34. OTHER ADVERTISING MEDIUM:HOW TO USE MAGAZINES, HOW TO USE RADIO, Daypart buying options
  35. UTILITY OF VARIOUS MEDIA:TAPE OR FILM, UTILITY OF TV, DIRECT MAIL PACKAGE
  36. OTHER ADVERTISING MEDIA:POINT OF PURCHASE (POP), TRANSIT ADVERTISING, LIMITS OF ADVERTISING
  37. CONTINUOUS TRACKING:PLANNING CAMPAIGN, HOW TO UNDERSTAND ADS, ASK BASIC QUESTIONS
  38. SEASONAL ADVERTISING:MAXIMIZING IMPACT, THE WEB ADVERTISING, MEASURING ADVERTISING
  39. COMPONENTS OF ADVERTISING:BUY - OLOGY OF MIND, BUY - OLOGY OF MIND
  40. CRITICISM ON ADVERTISING:SHOULD ADVERTISING BE ABOLISHED,
  41. EFFECT OF ADVERTISING:HOW TO PROMPT AWARENESS, CREATING DESIGN THAT SELLS
  42. CREATING EFFECTIVE DESIGN:LANGUAGE OF TYPOGRAPHY, HEADLINES THAT COMMUNICATE
  43. WORKSHEETS:DEMOGRAPHICS OF YOUR TARGET, YOUR COMPETITOR
  44. GLOSSARY OF ADVERTISING:ACCOUNT EXECUTIVE, PROOF, VOICE OVER
  45. CONCEPT OF AN AD:HOW TO DEVELOP A CONCEPT OF AN AD