Promotion attempts to draw attention to a product or
business in order to gain new customers or to retain existing ones.
We often highlight two forms of promotion:
Marketing Models
Marketing
is sometimes considered using two models, AIDA and DAGMAR.
Advertising
should seek to:
A
attract attention
I
create interest
D
develop a desire
A lead to action
(a purchase)
Defining
Advertising
Goals for
Measured
Advertising
Results
What Affects the Level of Marketing
The extent to which marketing is important will depend
on a number of factors:
·
The competitiveness of the market, where no alternatives are
available there will be less need to persuade the consumer to purchase the
good.
·
The availability of a good, if a product is in short supply
then there will be little need to promote it.
·
How easily the product can be differentiated in the market, if
the differences are obvious to the customer then there may be less need for
promotion.
·
The stage of the product life cycle, as a new or altered
product will need promotional support.
Small
budget marketing
A
small firm is likely to use one of the following methods of promotion:
|
Medium
|
Advantages
for a small firm
|
|
Leaflet drop.
|
· relatively cheap.
· able to target a geographical segment.
|
|
Local newspapers.
|
· relatively cheap.
· able to target a geographical segment.
|
|
Trade/hobby magazines.
|
·low cost method of targeting segment.
· well defined readership.
|
|
Business directories, e.g.,
Yellow Pages.
|
· well used reference guide for local firms.
· users often want to make a purchase.
|
|
Public relations (PR), e.g., free
editorial coverage.
|
· Free and often has more credibility than advertising.
|
For
the majority of firms the main aim of their marketing will be to create happy
customers who will make repeat purchases and recommend your company to
friends and family. This will
ensure the continued success of the company.
Further
Reading
Promotion PowerPoint Presentation
Controls on advertising PowerPoint Presentation
All is not what it seems PowerPoint
Presentation
Spending on advertising
Benefits of promotion for Vodafone
