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tactics that a company uses to promote its products or services to its target
audience.
5. Sales: To drive sales and revenue. Promotional activities are often designed
to stimulate immediate purchases or boost sales over a specific period.
Increases the reach. Gain more exposure and grow your customer base
faster than staying on a single channel or platform.
Advertising
Advertising is paid communication messages that identify a brand or organization
and is intended to reach a large number of recipients. The most traditional media
that are used for advertising include newspapers, magazines, television, radio,
Internet, and billboards. The increase in the availability and use of the Internet
and other technology has also led organizations to advertise on mobile phones,
through email, on social media, and on other digital devices.
Objectives of Advertising
1. To introduce a new product by creating interest for it among the
prospective customers.
5. To light competition in the market and to increase the sales as seen in the
fierce competition between Coke and Pepsi.
Advertising has become an essential marketing activity in the modern era of large
scale production and serve competition in the market. It performs the following
functions:
Advantages of Advertising
There are several benefits to advertising. Companies, people, and consumers can
access information about goods and services from it.
1. Introduces Product
2. Increased Exposure
Advertising is a great way to get your product or service out there, and increase
exposure to potential customers. It can help you reach a wider audience and build
brand awareness.
3. Expands Market
It helps companies to reach out to a large number of individuals and explore new
markets. Public awareness of brand products grows thanks to advertising.
4. Increased Sales
5. Competition in Fights
It offers thorough product information that aids in setting it apart from rival items
and gaining a competitive advantage.
6. Reduces middlemen
Advertising can help build your brand and improve recognition. When customers
see your ads, they may become familiar with your company, which can help
create customer loyalty.
8. Informs Customers
It serves as the medium by which businesses inform clients of all the information
about their products.
Customers are made aware of the applications and benefits of a product through
advertising.
9. Cost-Effective
10.Targeted Reach
Advertising can help you target specific customer segments and demographics,
which can help you save money and reach the right people.
You can tailor your ads to appeal to the right customers, increasing your chances
of success.
Disadvantages of Advertising
There are several disadvantages to advertising, including invasions of privacy,
information theft, and addiction. The following are some additional disadvantages
of advertising.
1. Cost
Advertising can be expensive, especially if you are using traditional media such as
radio, television, and print.
Depending on your budget, you may not be able to reach as many people as you
would like.
2. People’s Ignorance
3. Impersonal
Small businesses cannot compete because they cannot afford the kind of massive
advertising that big corporations can.
5. Clutter
With so many companies vying for the same consumers’ attention, it can be
difficult to stand out in the crowd.
6. Promote Monopoly
They can secure a long-term position among clients while preventing the
introduction of fresh rivals.
7. Lack of Targeting
8. Lack of Measurement
9. Perception
Types of advertising
01. Online search advertising
American adults spend an average of 3.5 hours of their day online. This high
amount of internet usage helps explain why more and more businesses are
turning to online advertising. After all, the goal of relevant advertising is to get in
front of your audience where they spend most of their time.
Additionally, marketers treasure the ability to track the immediate reach and
results of their online campaigns. Since many tools and analytics are integrated
into digital ads, you can know in real-time where your sales are coming from and
make quick optimizations to boost performance.
Due to the strength of this type of advertising, you can use many digital methods
to promote yourself online:
You can even bid on competitor brand names so you can give yourself a chance to
be considered as another option.
Moreover, many advertisers send their paid online traffic to exclusively dedicated
to the promotion in order to increase customer conversion.
Lastly, PPC ads are designed so that you only pay when someone clicks on your
ad, so it's a great way to learn. You can choose how much you are willing to pay
for that cost per click (CPC). Therefore, this is an excellent online advertising
method for campaigns with defined sales goals, CPL and ROI benchmarks.
Display banners
Have you ever read an article online and noticed a square or rectangular image
appear on the edges of the page or between paragraphs? This type of advertising
is known as display banners and is usually composed of rich images or videos that
showcase a promoted offering with layered text and a CTA.
Banner ads are charged on a CPM (cost per a thousand impressions) or CPC,
depending on the platform you’re running ads on. Since the click-through rate
(CTR) isn’t as high on display banners as PPC ads, the former is often used to build
brand awareness and help you stay top of mind with your audience.
Native ads
What differentiates from other types of advertising methods is that, as their name
suggests, we often don't notice they are ads. Native advertising campaigns are
disguised by matching the format and style of the organic content on the page,
making them nearly indistinguishable.
Their camouflage ability has made this ad format quite popular. Marketers love
them because they are a sneaky way to get in front of your target audience in a
not-so-obvious way. For instance, if you look closely at a content piece that is at
the bottom or between articles on sites that serve ads, you’ll notice a small font
reading "sponsored stories" or "promoted by."
Since native ads are often live on content publishing platforms or video-based
channels like YouTube, they can be a great way to drive traffic to a blog post, a
tutorial video or other types of longer-form educational .
Besides, the usage of social media is growing by the day. Now, there are several
leading platforms to choose to advertise on, depending on your target audience
and goals.
Global social media marketing spend topped US$180 billion. The majority of this
was spent on mobile advertising. Total spend is expected. to increase to over US$
350 billion by 2026.
LinkedIn advertising
Known for B2B advertising, LinkedIn lets you tap into their professional database
of over 690 million users and reach your audience through Sponsored Content,
Sponsored Messaging, text ads and dynamic ads.
What is special about this channel is that people are already in a professional
mindset, making them more likely to be open to interacting with new
opportunities that can help grow their business.
Be aware that LinkedIn’s CPCs are higher than other social media platforms.
However, for B2B businesses that have a high-value price tag per sale, it can still
pay off their ad spend with a positive ROI.
Facebook advertising
Facebook ads have a reach of 1.6 billion people and lets you customize your
campaigns based on specific objectives and countless audiences. You can choose
to advertise on Facebook, Instagram, Messenger, Audience Network or across
them all. Most of their ads are on a PPC model with relatively low bids, and there
is no minimum spend which can be beneficial for smaller businesses.
Instagram advertising
Instagram lets you easily turn existing posts into ads. You can show your
promoted content in Stories, Reels, and your audience's feed.
Then choose where you want to send visitors to—whether it's to your online
store, Instagram profile or elsewhere. Since Facebook owns Instagram, you can
choose to run your ads from within the Instagram app or through the Facebook
ads manager.
Twitter advertising
Twitter offers many ad formats, with the most popular ones being standard
promoted posts that show up in your audience's newsfeed amongst organic
tweets.
Another common ad format is Follower Ads, which can help you to increase your
visibility and promote your account. Follower Ads on Twitter can do so by
showing your business’s Twitter account in the Who To Follow section as a
recommendation. This will help you get noticed by new audiences who otherwise
might not have heard of you.
Pinterest advertising
Pinterest advertising allows you to create Pins that will be served to your
audience’s feed. The goal is that they will find them relevant, click on them and
pin them again for later. Their ad format is very visual, which can be a great
benefit for retail brands.
The beauty of this type of advertising is that you often do not notice that the Pins
are promoted, which creates a very favorable experience for the end-user.
TikToK advertising
TikTok is not just for fun dance videos, they also tailor to businesses with their
short-form video ads. The latest social media platform shows high engagement
rates, giving you access to passionate users. Furthermore, you can segment your
target users into verticals to reach the most relevant audience.
Remember, the key to TikTok ads is to tell your brand story in a unique way. Try
to jump on trending songs and sounds to include in your video ad to fit the tone
and style of this type of advertising.
03. Print
One of the first and longest-standing types of advertising methods is print. This
promotion method allows you to advertise your brand in physical printed
newspapers, magazines and brochures.
Even though types of digital advertising are taking a fair share of the print market,
there is still a desire for holding and reading physical content that consumers
love.
Whether it's in the New York Times or Vogue fashion magazine, you can show
promotions for your business on either a full dedicated page or place a smaller ad
on a page with several other business promotions.In print, you pay per size of
your advertisement and where it is located in the magazine or newspaper. For
example, the back cover of a magazine will be more expensive and more effective
since many more people will see it. Likewise, full-page ads will be significantly
more costly than smaller formats.
You should choose the types of magazines that your audience is most likely to
read, as some publications are very clearly geared towards specific demographics.
If you're looking to get into the hands of as many people, just as you might be
with a business card, highlight your products and services benefits in the printed
content you can easily hand out. Then go and distribute these advertising assets
in stores, at events, or even outside on high foot traffic streets.
Marketers use direct mail to send customers coupons, promotions and news
about their business. Many also include their business website so users can go
online for more information about the offer. An easy way to get readers online is
by generating a QR code that, when scanned, immediately leads the user to the
destination of a promotion.
Wondering where to begin? You can start finding addresses for direct mail
advertising from your existing customer user base retrieved from your CRM. In
addition, you can approach direct mail companies that sell this type of
information.
On the one hand, TV advertising is ideal for reaching a larger, more general
market area since it can reach thousands, if not millions, of people at once. On
the other hand, it is hard to know the reach and direct ROI, and sales impact TV
ads have, as tracking is not so straightforward as online advertising.
Also, TV ads can be expensive as they are sold by the second length and can
change by price depending on the time it airs, the program it airs on and even if
it's a local or national TV channel.
Regardless of where you choose to promote your video ads (Youtube is always a
good place to start), make sure the quality of your video is high and that you
provide details about the value or problem your product solves.
It really has become simple to make online video campaigns with marketing tools
such as a free online video maker. Once done, you can repurpose your created
video for several different types of advertising, including social media.
But NYC is not the only place where outdoor advertising is such a success. Most
cities and towns around the world utilize the outdoors as an advertising space,
with 71% of consumers often looking at the messages on vehicles and roadside
billboards.
Billboards
Billboards enable your campaign to show up on huge poster signs in places such
as the side highways or sports stadiums. Ultimately, anywhere that has a lot of
people passing by is an excellent place for this type of advertising.
What makes these billboards so appealing is that they can be enormous and eye-
catching, especially when integrating digital media into the outdoor spaces.
Transportation
Street advertising
Take for example the ad where McDonald’s turned a stripped crosswalk into their
world-known french fries. Other ideas could be painting benches with your brand
colors or incorporating your product in the space in a creative way. As you can
see, these ads are very imaginative, so try to be unique and out of the box with
this type of advertising.
Cell phone advertising allows you to push notification ads via SMS to your target
customers. You can send a promotion or offer and typically includes a URL to a
landing page or website to take action.
This type of advertising is also popular because it comes at a low cost and has an
extensive reach. The average open rate for text message marketing campaigns is
98%.
If you choose product placement advertising, be intentional with where and how
you wish to place your products and ensure it matches your brand image.
09. Consumer-generated
Consumer-generated advertising is one of the newest types of advertising that
has taken the marketing world by storm. Ads based on user-generated content
are very trusted by audiences and receive 4 times higher click-through rates than
other types of advertisements.
In this online marketing strategy, brands pay people to create content for them
and promote the content on their behalf. The content users create can be
anything from videos and blog entries to social posts, tutorials and more.
With this in mind, you can take advantage of the many listeners out there that
you can reach with ads, with high peaks of tuning in during commuting hours.
When it comes to targeting, you can narrow in and advertise to a niche group of
listeners that will find your promotion most interesting and relevant. To do this,
focus on a specific radio channel or podcast type that aligns with your services.
Users might find your sponsored message very helpful as 54% of podcast
consumers say that they are more likely to consider the brands they hear
advertised on podcasts.
Lastly, you don't have to rely on large, existing radio stations or podcasts to cover
you. You can start your own podcast for free with one of these podcast website
templates. This medium will enable you to highlight your expertise and tell your
unique brand story.
Personal selling
Personal selling is a type of marketing strategy that involves one-on-one
interaction with prospective customers to sell a product or service.
While personal selling is a part of marketing, there are several key differences
between the two. Personal selling and marketing are both important components
of building a brand strategy, but they differ in their approach and objectives.
Marketing entails a broader set of activities that are designed to create awareness
of a company's products or services, generate interest among potential
customers, and ultimately lead to sales. Marketing can involve a wide range of
tactics, including advertising, public relations, content marketing, email
campaigns, social media, and more.
The salesman provides information about the features, price and uses of the
product to the people. He handles their queries and removes their doubts about
the product. He educates them as to how their needs could be satisfied by using
the product.
The salesman creates a desire among the prospective customers to buy the
product to satisfy specific needs.
Personal selling typically happens with face-to-face meetings, but it can also be
conducted via phone, video conferencing, or other communication channels.
By following these steps, salespeople can effectively move prospects through the
customer journey and increase their chances of making a successful sale.
Prospecting
The first step in the personal selling process is prospecting. This involves
identifying potential customers who may be interested in the product or service
being sold. Prospecting can be done through various means, such as referrals,
cold calling, networking events, or social media.
Pre-approach
Once potential customers have been identified, the salesperson needs to do some
research and preparation before making contact.
This involves gathering information about the customer, such as their needs,
preferences, and buying habits, as well as information about the product or
service being sold.
Approach
The approach stage is where the salesperson makes initial contact with the
potential customer. The goal is to make a good first impression and establish
rapport with the customer. The salesperson may use various techniques, such as a
warm greeting, a compliment, or an opening question to engage the customer
and start a conversation.
Presentation
Once the salesperson has established a rapport with the customer, they will move
on to the presentation stage. This involves showcasing the product or service
being sold and explaining its features, benefits, and value proposition.
Overcoming objections
During the presentation, the potential customer may raise objections or concerns
about the product or service being sold. The salesperson needs to be prepared to
address these objections and provide satisfactory answers that alleviate the
customer's concerns.
Closing
The final stage in the personal selling process is closing the sale. This involves
asking for the customer's business and finalizing the transaction. By the closing
stage, you should have formed a personal connection with the customer.
The salesperson may use various closing techniques, such as offering a discount,
creating a sense of urgency, or emphasizing the benefits of the product or service,
to encourage the customer to make a purchase.
After the sale, following up with the customer to get feedback after the purchase
is key to strengthening the personal relationship and nurturing future sales.
It's important to note that not every sales conversation will lead to a sale, but by
understanding the personal selling process, salespeople can increase their
chances of success, build stronger customer relationships, and improve the
customer experience.
Sales promotion
A sales promotion is a marketing strategy in which a business uses a temporary
campaign or offer to increase interest or demand in its product or service.
There are many reasons why a business may choose to use a sales promotion (or
‘promo’), but the primary reason is to boost sales. Sales boosts may be needed to
reach a quota as a deadline approaches, or to raise awareness of a new product.
1 - Product Launch
When companies launch a new product, a discount, coupon, or a free trial will
encourage customers to try the product out. It is an excellent way to penetrate
the market with similar products.
2 - Competitive Edge
4 - Customer Re-engagement
A less challenging task than attracting new clients is attracting existing clients to
make a purchase. The promotion for existing clients can be in the form of
personalized products. These products make them feel more included and thus
improve customer loyalty.
5 - Inventory Clearance
These campaigns are popular, especially when seasonal changes are around the
corner, such as winter to summer or vice versa. Businesses look to clear out stock
to make way for new inventory relevant to the upcoming season. Otherwise,
these clearance sales are run to make way for trendier products.
Below are a few common types of promotions used by businesses to attract the
attention of their customers:
1 - Flash Sales
Flash sales refer to a brief offer that allows customers to purchase at high
discounts for limited periods. The idea is to induce a sense of urgency among
customers to facilitate more sales.
2 - BOGO
BOGO or buy one, get one promotion is usually used to create awareness around
a new product. The idea is to provide the customer with an extra product for
them to use for extended periods or to gift to friends or family, thus increasing
the chances of future purchases.
3 - Product Bundles
4 - Demos
Demos or free trials are among the most prominent sales promotion tools to
attract new customers to grow customer bases. Businesses offer a particular
product for a limited period free of cost for them to try and provide feedback.
5 - Vouchers
6 - Referral Codes
Referral codes are an excellent way of engaging existing customers and attracting
new ones. A code is shared with existing customers to share with their friends and
family. In addition, offers and discounts are provided every time someone uses
the referral code.
Publicity
Publicity is the communication about a brand, offering, or a business by placing
commercially significant news about it in the media without paying for time and
space directly.
In simple terms, publicity is the movement of information to the public via media
coverage and other non-paid mass media sources.
Publicity is not a process but a result of a good public relations strategy where the
marketers succeed in providing favourable information to media and other third-
party outlets like bloggers, vloggers, podcasters, etc.
Objective Of Publicity
The main objective of publicity to garner public exposure, awareness, and
attention to channelise the information about a brand or an offering to build its
goodwill, stimulate demand, or change public opinion.
Characteristics Of Publicity
Publicity has the following five characteristics:
Advantages of publicity
Publicity can be a powerful tool in the promotion mix, offering several
advantages:
Disadvantages of publicity
While publicity can be highly beneficial, it also has its disadvantages:
Types Of Publicity
Based on User sentiments
Public Relations
This is where public relations becomes an important tool in the promotion
mix. Public relations is about creating and maintaining a favorable public image.
Unlike other tools in the promotion mix, public relations is not paid for; it is
earned media. The result of public relations is called publicity.
There are two sides to public relations. The first is considered the “fun” side,
where marketers get to share stories of all the great things an organization is
doing. This helps to promote the brand’s image in a positive, feel-good way. The
other side of public relations is damage control. This is when something negative
happens within an organization and marketers must perform crisis
communication—that is, addressing issues that could negatively impact the
reputation of a brand. Consider in 2017, amid the height of Black Lives Matter
protests, when PepsiCo aired a commercial featuring Kendall Jenner calming an
angry crowd by simply handing a police officer a can of Pepsi.12 Activists slammed
Pepsi for trivializing such an important issue. Originally, Pepsi released a
statement supporting its advertisement, but public backlash soon changed that
position, and the company issued an apology, saying it had “missed the mark”
with its intentions.
Conclusion
In conclusion, the promotion mix is a crucial component of a comprehensive
marketing strategy, integrating various communication tools to effectively reach
and engage target audiences. By blending advertising, sales promotions, personal
selling, public relations, and direct marketing, companies can create a cohesive
and impactful promotional strategy that drives brand awareness, customer
engagement, and sales growth.