Factors affecting Promotion Mix, Principles of Marketing Video Lecture | Principles of Marketing - B Com

hello my name is dr. George mcafee and
welcome to introduction to business
organizations this week we're going to
be covering chapter 16 promotional
techniques for businesses from small to
large will give you a good general idea
about promotional we've talked to
previous chapters in this series on
marketing integrated marketing concept
so remember part of the marketing
concept as a promotional in marketing
you have sales you have the advertising
at the public relations and we will in
this case here we'll talk about a little
bit about public relations and
promotions how to persuade the customer
to come into your shop hopefully to
become a buying customer okay so you're
either taking me in an online class or a
face-to-face class at a community
college or you're viewing this as a
YouTube so make sure you look me up by T
cheater at college lake county in
illinois of lake county or Harper
College in the northern portion of vodka
County to look me up it helps the
publisher how's the community college is
the best money for your best value for
your dollars you have lot of individuals
who have advanced degrees and are
teaching not only giving you the theory
yeah but also taking the theory and
showing you how to apply it in real life
most of us to teach business our
practitioners so we take real life we
take theory and make it actually happen
okay so let's get going now I'm
promotionally you'll be doing the
feasibility study for for this class as
a team project and part of that you're
gonna have to come if you already came
up with an idea a product or venture and
now how you going to promote a product
we talked about different product life
cycles and the different life cycles of
different pricing strategies that we
talked about last chapter and now let's
look at the same rationale looking at
different life cycles listen product
life cycle and right now we'll see your
businesses are starting off tune you so
mostly promotional advertising would be
awareness and get them into the shop and
get
talking to know that you're out there
you're open for business and here's your
product and here's your brand and so
they give it a little bit to know about
you and that's how I this chap is going
to start so let's talk about the
promotional next I'm gonna and you
already have access to my concept Maps
or my naps you utilize in blackboard
course management system and you also
use allies in the integrated software
system which is provided by the
publisher so you've already had first
exposure this is more of a summarization
you're ready to listen to me in lectures
or in our discussion group and you've
done the soft first you've done the test
the quizzes and now you're just now this
is okay now did I miss anything so I'm
prepared not only for my final but also
for my final team project that I'm
supposed to have about 35 concepts or
vocabulary throughout the whole paper
and this is equally want to get a lot of
them out of your way okay so let me just
increase this I think to about whatever
been using 200 that 200 look at that so
if i look at promotional mix and you're
following along the promotional mix is
broken down into several of different
aspects you'll based around the product
so you're looking about advertising
looking personal selling see
ridiculously as we've talked before
everything goes is focuses around the
product so your personal selling your
sales promotions your public relations
your advertising they all have the same
message or theme at this present time
that you're trying to communicate to
your clients or your customers so
personal selling advertising public
relationships i'm going to be but so
that's part of the promotional mix all
saying the same message at different
frequencies and different exposure rates
to different target markets but so with
repetition and at the right timing the
right place you can saturate and bring
in your message with a clear on
standing directly and directly to your
audience okay so integrated marketing
communication or IMC combines
promotional tools until one
comprehensive strategy just like we
talked about imc is used to create a
positive brand image you always see that
like Apple has a good brand image meet
meeting the needs of the consumers
objectives of integrated marketing one
unifying plan one message one
communication anytime the customer sees
my brand or my image they have the same
if i look at walmart you thinking
walmart for Louis koala I mean the
lowest price the best prices at the
lowest cost high quality products at the
lowest cause when you look at marshall
field or pennies you're looking at a
higher end of a destination store you're
looking at a more of a higher-end
products by higher quality or perceived
higher quality so it's one unified plan
influences perceptions and attitudes or
by your behavior it builds brand equity
provides information and manage demands
and those sales different a and it
makes your product different okay now
steps in a promotional campaign let's
make this little bit maybe I'll make it
300 see how this works okay oh very
easier and you can see if you're on your
smartphone steps in a promotional
campaign you first alcohol had to
identify a target market I've been
preaching that all day every time who
are your customers who are your customer
once I know the customers if you take me
or another instructor another course
consumer behavior you understand how to
consumers behave what certain triggers
motivate them what's certain stimuli are
you looking at and were where you
advertise determine a promotional budget
how much money you have depends which
ones you want to get the best exposure
and frequency rate for your dollars
developing a unified message one
time so everyone gets the same message
it's quality value pricing best pricing
good service whatever the message it is
at that time that you're trying to
convey to your consumers this is what
your unified integrated marketing
communication strategy should be
focusing on that different messages are
quality I got result quality I know I
got quality at lower prices I got high
prices like a variety because this is a
consumer given one at a time make sure
that saturates and go on the other one
and it's the way you're developing a
brand implement a plan and then you
evaluate to the understanding message
and when they stop think about my
company what's the first thing that
comes to mind did he think value or do
they think the pricing dependence what
you've missed it if it's completely
different to what I've been my strategy
then I better go back to the drawing
board and say worded what happened how
does the week at this miscommunication
to my consumer group now advertising you
CA get dollars advertising is
communication but a paid communication
for the organization for me I'm
communicating a certain message from
painting to my promotion of dollars
really adds to the media if a media is
looking at TV print ads to convey that
message but I'm paying it I'm trying I
control it and I hope I get the proper
cause and effect for my advertising
dollar so it's paid non-personal
communication major goals so that is to
inform or just persuade individuals to
come and purchase my product having a
several students for taking speech at
the same time and they're doing
informative speech that's also to inform
me a little bit about the product and
then they had to do a persuasive speak
and it's all marketing is how to
persuade you to come to my store
purchase my product so we have a
transaction of currency going back and
forth which can put improve and
stimulates the economy through adam
smith okay and remind them about our
good quality service or a voice keeping
a brain don't assume that they remember
you have to remind
that what your company stands for okay
major categories of advertising now I'm
not going to go through all of them is
also did a real good one you have retail
you have trade your business to business
to the right and your factory
manufacturer you have institutional
creates desirable image additem real
quickly retail to consumer those you're
following along trade manufacturers
wholesalers to retailers
business-to-business manufacturers to
manufacturers product creates a
desirable an image for the product these
are all different types of advertising
different integrated marketing campaigns
I have a different times depending
what's going on in the public depending
what my competitors doing depending on
the feedback I'm getting from my
customers okay advocacy it supports a
particular view or issue comparative a
compares competing products to mine
hopefully mine are better value and
we've done that to the SWOT analysis in
the last chapter and you are required
for your feasibility paper once one
analysis underneath the marketing or
advertising interactive because
customers orientated ads allow customers
to choose information to receive online
computer ads feature do featured it's
spelled wrong yeah you got that very
good at different sites mobile
everything more mobile as they reach our
consumers on cell phones to let them
know and a lot of ads especially the
Apple to get your location so you're
close to my store hey come on then we
have a special sale just not for the
next hour come on in you see how to use
the apps to my advantage okay
advertising expenditure by media and
this is just a chart if I'm looking at
this and y'all to did go to rekal there
yeah you know you're no TVs the most
expensive most used direct mails because
you reach a certain specific things
digital the next one and then newspapers
whittling radios to a new magazine
depends of its high-end outdoor science
is so good in directories okay so you
have different dollars so how much money
do you have and what do you could afford
you're not going to be able to afford
open up a business TV as me direct mail
is very
we call Detective efficient if utilized
properly ok so now let's take up the
next one now we're going to look at
factor to the fact promotional mix types
of the product okay life cycle we talked
about that I've been going through that
from the last couple chapters you know
it makes a difference if I'm going to
decline i gotta change the face of the
product no different than if i'm more of
a mature tech person like me myself i
had dyed her hair i don't but you know
people have facelifts with other things
so they look younger look more vital so
when you go for the new employer you
know the game is through the age so
after you find out pulling back right i
know this guy was 95 years old i'm not
but you know me so does a lot you could
do it lifecycle in a same with your
product if it's going to decline how do
i change it is breaking so look baking
soda off your tea healthy everything
else environmental everything else
before it's only for cooking I've
reinvented a product reinvent of the
brain found a new clause found the new
direction it's the same thing you do for
your own self action a competitor is an
available fund okay launching a direct
mail okay direct mail campaign you got a
plan for it and basically what should
your mailing accomplished are you just
looking for exposure are you looking for
people come in on this floor I looking
for to buy a new product looking for
product awareness are you looking just
to remind them of that I'm in the
business you'll get to write lists
better the list a better chance of your
success you don't want to just send out
and people's I don't even know about the
store I don't like it so you do some
qualified we're going to talk about
business business just a lot of
secondary list out there that will be
for maybe not exactly what you want but
specific to your industry that you know
they had some interest so they may look
at it you know stand out we brought
barter is so much different kind of
advertising what makes your ads
different get help contact a marketing
firm with direct mainly an experience
that's all they do so I have to direct
do I have the mailing list i have broken
up with demographic you'll be able to
get you the best cause you know you got
paid them up front but
the best exposure a follow-up on
mainland is not enough you know how and
that's when we talk about a marketing we
talk about frequency and exposure how
often do you expose I often you send an
ad out and at these pens and how many
how much exposure you think so we're
going to get remember newspapers 12 days
they tow it away a magazine me lay
around for a month or if it's an office
or in a business or reception may be
there for a year and people can still
see that ad so it has a longer shelf
life from an advertising perspective
this is the it's their people look at it
and look at it and look at it until to
get rid of it okay popular advertising
media TV advertising still the dominant
media digital recorders coming on the
next challenge TV advertising because
there you can skip them and you'll cable
to devil and packing for the publisher
say hey we're advertising which you used
cutie nuts this market but then you're
giving your consider customers away just
to eliminate our ads what the heck is
going on here so you know do they change
the little bit I've known you got to
fast forward okay product placement
advertisers pay to put their products
into TV shows and movies where the
audience will see them and if you look
at this one remember what do you think
is advertising this huh let me see I
don't see popeye chicken kentucky fried
chicken KFC and coca-cola the FT would
be not not paying for the advertising
you just have chicken and some kind of
brand names that you wouldn't be able to
read good advertising subliminal in
their most costly but they have to pay
for something that ok online experience
make sure that the brand messaging is
key make sure calls to action are
effective site must be easy to navigate
you'll just the consultants and there's
people out there to be able to tell have
you moved your majority of your
customers are going through users one
fast reliable site I don't want all
these things popping up I can't turn off
I'll never come back to your site that's
me and it's a good percentage of P
pay per tweet users with disabilities
should be able to navigate ok now paper
tweet celebrities can earn large sums of
money by just mentioning a product or a
site on your tweets do you think it's
ethical for celebrities get paid to
tweet / written ads that appear in their
own personal comment you almost expect
that a celebrity look at Michael Jordan
here a brand celebrities or brand I
study make the money that's the you know
I mean they're there for a while some
longer some shorter so look at a
celebrity has a brain just like you
should be looking at yourself as a brand
how what do people think of you when
they see you and you know they were at
work or your friends or you see you
George oh he's creative he's outgoing
he's out of box thinker he's a problem
solver he's a good team player that's my
brain just toward much macula you think
of that what do they think of you
remember you are a brand similar to when
you go to store what do you expect the
service and equality depending on your
previous service and quality either okay
now they talked about social scammers be
where we request for money transfers
people still do it mean even from
friends or accounts you only call up and
check out be worried when you use
application don't give my necessary
information and also click on I was
looking at something that the chrome
down here and that's going to click on
to downloads on my laptop and they had
one look like this but the thing was
oblong which basically was a fake it
wasn't there having to probably gathered
to but you put a lot of different
cookies just a minor and then they would
have downloaded chrome so it was like
going around make sure you always get to
this site you're looking for and as we
do expand it to make sure that you are
at the site it's not been hijacked or
there's another site this kind of taking
you to back door to your site in the
meantime it's adding things along okay
now global advertising you know okay you
know so this one users of it's a URL
expand as a sea full address links on
the friends pages okay now global
advertising requires marketers to
develop a single product and promotional
strategies
implement worldwide kind of hard visa if
you look at these it could be everywhere
some products you have a rising global
markets is of using one advertising
campaign in all countries especially bad
translations remember you try to do it
you want to have maybe two can the theme
is the same but you have to use
different language a different verbiage
and hit the check it don't obey them
because it could have a whole different
meaning then just the words itself
because of the way the words have been
connected together implied meaning okay
personal selling face to face
presentation business business all that
promotion of a product sales person
searches for new prospect follow up a
service sales persons need to listen to
customers help to reach a solution and
to do everything possible to make the
transaction as simple as possible easier
said than done okay steps in the selling
process okay prospect in the selling
process prospect and qualify you're
going to talk a little bit about
prospecting qualifying right up in here
but so now I've got a list of people
list of individuals I'm going to come in
there and going to sell them how I
approach them look at it if you're going
on a date and you want that certain
person you're gonna be a little you want
to come across like you know get finesse
you get style you got class now when
you're going to a customer don't come
across real harsh normalize the pushy
salesman hey how can I help you depends
on the individual to look like your
business might be more professional if
you look like you're more laid back
without the time hello your uncle yo but
yes sir may I help you always use
politeness always use a smile always be
face forward look at individual if you
want to back off back off just hang
around you'll don't follow them like
you're sure there's going to steal
something being a tender area of they'll
come and find you if you can approach
them Ralph do come and seek you out
other somebody else because you made
that kind of take in the connection with
them okay make the presentation and you
have to adjust your presentation also
you've been trained with some kind of
cam presentation you're just an
individual they get a family all
this is nice for the family they look
like this single oh this is good for
your you know at your home relaxing or
entertaining or if you look at a married
couple years at that time together are
able to partner you remember so you have
to just adjust as yet they can but you
just do the tweaking it's like a room I
just adjust a little bit different to me
to make the presentation more
presentable you know answer any kind of
objections using objective as a
springboard to sell more to bring out to
the product the positives don't look at
as a negative a lot of times you too
good you know certain people going to
have some objection of your price so
kind of heavy sigh yester price is high
but if you divide it over 30 days look
what you're getting look at all those
other things how long does it take you
to do this test is simplifies it for you
so the savings and 20-year you look like
a very person make about thirty forty
dollars an hour that's about ten dollars
savings over the day hate it's a saving
over a year you're paying for yourself
okay it's not like a salesperson okay
now close the sale pull the sales means
either haven't charged you put a layer
way if you're doing business a business
closed the sales to have another meeting
because you're doing two different
buying centers you know statement or
question that moves the process towards
a person ok now we settled that answer
all your question so what do you think
should I wrap this up or which color
would you like or how would you like me
to deliver this personally and or mail
or whatever and then follow up afterward
cognitive dissonance is to remind them
with different hands that they did make
a good decision you don't want to come
back i bought this i felt pressured i
don't really like the product you want
to come back he brought this is a good
product do you know it has it's a number
one rated whatever and that's with the
feedback necessary just had to be you
calling but sending them information
advertising-promotional communication
that
solidifies and supports the brain in the
concept of the reason is individual
waters but this your product or service
okay prospecting and qualifying the
sales business to business here's a
sales ago you start with the approach he
has to question make the presentation
close the sale do follow-up nothing
changes right so looks like the same one
prospecting did that I must have got
that wrong one sorry okay prospecting
research in person it does the wrong
slide sorry for life remember those
you're doing it we're live as it is just
like in the classroom I just put in the
wrong place prospect and researching
potential buyers and choosing those most
likely by something's probably get to
look at you traitor by so like all he
looks like he's ready she may go out
with me or he may go out with me okay
qualifying now the ancestor and
qualifications right if I'm looking
certain qualification so making sure
customers having a need for the product
you know I don't like to solve something
they didn't want I'm gonna bring your
bags and I gonna be happy oh I don't
want to dr. happen to me that the
authority to buy the nancy kirby to
charge and the willingness to listen to
the salesperson that individual becomes
a prospect so you look like they will
forward it did look like that the the
money to buy it and they are willing to
listen to the sales pitches he or she is
a good prospect okay now this next one
successful selling these strata is
tragedies sorry know your competition
and the standard pricing because your
customers already did the research
especially assistance the shopping your
specially good at everybody to check
that out understand your customers
business and what their needs are or try
to find that out differentiate your
product or service from your competitors
you just are similar but we do this in
this and that's no charge and it was the
same price and you know so they could
see how there's more benefits you're
giving more benefits let to make a
decision and niggaz actin up don't lie
because they already know let them do it
you lied i'll always find out on the
chilled your product better if their
product is easy sauce very soft build a
relationship between you and
visual eye contact talk a little small
talk not too much your back to business
selling put the right people in the
right song spot some people design
people person you don't know how to talk
okay whoops and sales not feeling the
customers pain something goes wrong and
they come complaint try to put yourself
empathy inside their shoes making money
is not the only goal node customer
quality services you want sustainability
I can make money short-term I want the
business to be for a long time ago to
good branding getting upset during
presentation or get upset the customers
asking a question you may not be always
right but you have to just redirect it
and find out in explain it in a way that
he or she will accept it and sometimes
they may not accept your facts and it's
fine some customers I have to walk I'm
not trying you know Jesus George we're
going to sail it's just life you can't
do all and everything else how much time
you're investing any or maybe another
salesperson will be able to connect
where you weren't able to not being
yourself via south don't try to be
somebody you're not neglecting
relationship okay when I look at public
relationship when I look at PR PR is
something that's out there people talk
about my business I don't control us
hopefully it's good that supports the
brain I could use it public attitudes
and look at change of policies
procedures and response to the public
information to earn the public
understanding and acceptance and execute
a program of action now just three steps
I gotta listen means I'm looking social
media TV have people that enlarge your
organization all they do is look at
facebook read the paper see if anything
else with the company's name has been
mentioned and either positive or
negative and could I utilize this to
keep the momentum going or how do i
stifle or put out the negative to proper
channels or you go to an advertising or
going back down to public news media and
try to present my side of the story it's
tricky but sometimes that's the only
where you have to do it okay so listen
to the public change policies inform
people your responsive to their needs ok
so publicity if i look at publicity is
information about an individual product
or organization and has not paid for or
controlled by the seller it's
distributed to the public to the media
advantages it's free reaches people that
were not looking at advertising and more
believable than advertising oh you know
so if it's a negative one and believe it
if it's positive you have a higher
profile you want them to believe it so
you depends remember you don't control
this media but doesn't mean you don't
manipulate it or work within it that's
why they have a PR department they make
sure they know in America they know make
sure estremera wherever grand open could
you be here he also wants publicity in a
positive open up a new facility Georgia
facility bringing in 20 new job into the
area brand new company they got
publicity he gets publicity everybody
works with the society that region gets
publicity and helps economically okay
now what is a disadvantage or is it this
advantage no control over what remedial
use the story or when they may release
it it can be good or bad once the
stories we run this likely it isn't
likely to be running again remember and
advertising I could do it over and over
okay so let's look at sales promotion
you have internal external sales
promotion your employees customers you
can't do this out to them you know a
discount they could be out there look at
the new product and as well pretty soon
Jana companies with me having it
promotional tool that stimulates because
consumer purchasing the dealer's
interest by means of short-term activity
Rochelle's premier short term I have so
much inventory when I move it I wanted
my selves as off this month I want to
increase sale I have a promotion what do
i do I spend so much money and so much
return on my investment from my ads but
what do I do it which market holder and
trying to accomplish okay so they have
different categories your business
business sales and consumer sales
consumers are going to talk about q
bonds demonstration same clinical seems
Haskell items in walmart or july as a
Mariano's has a matter of just using
stores around here you taste a food
writer unity wanted to buy a to write a
switch that in-store displays are very
good it reminds you it looks at it it
chuckles promote simple to see other
displays when in the stores will get me
too stimulated water it sales promotion
techniques and here this trade shows
this is more for the business of
business your coupon same things premium
same thing ok I'll do Oh business
consumer busy penetrate your portfolio's
deals price reductions catalog them I
convention okay so some key consumer
promotions is coupon so get ready we
have it in that one okay now weird
amount let's take a word amount if I
look at the new word amount they talked
about most effective because you tell
friends do not buy real market and we
talked about we're getting paid for
people tell others about products they
have purchased that they like or dislike
word of mouth is important for products
like car repairs these especially items
or unsought items we talked about the
chapter 14 if I'm mistaken 14 or 15 hair
stylist hotels facebook social media new
word of mouth remember before when I
word-of-mouth you would say five or six
people would know about it now where the
mouth dependent and social media and
different social media it could go viral
and you could get the good or bad
restaurants a take care okay now the
other one is emerging markets you're
looking at promotional tools viral
marketing that's what we're talking
about a little different than the we
talked about the ethics with stars or
anything tweeting for pay okay no viral
market paying customers to say something
positive and Internet workers wear by
consumers get commission so sometimes
you look at its owner reviews have been
skewed and makes me wonder now are all
those reviews these are good or is it
someone they're paid to put the poster
review and it gets
many good reviews you are setting up the
multiple schemes receipts beltran
received this for this for what a good
by putting positive even though they
never used a product comments to get
what they call swags include free ticket
shirt and other materials blog to get
short for weblog online diary that looks
like a web page but easier to create
update by posting photos videos in link
path podcasting a way to distributed
audio and video program to be with
internet and an email been around
promotion increase awareness a lot of
times email like all I got too much
email because more frustrating man I've
utilized so be careful you'll send it
but be cautious of overburden them
because they'll remember your name it in
a negative and Facebook and Twitter okay
now the last thing music to the talk is
push pull and pick push producers use
advertising personal selling sales
promotion to get the products like on
the shelf and other tools to push the
strategy now Paul strategy is direct
heavy advertising and sales promotion
towards the consumers gets the public to
request the product from the retailer so
if I were retail us that I don't want to
carry this and they have just put a pole
tragedy and you see as a drunk ask your
doctor about this drug will help you out
there ninety percent no doctor said I
don't know enough about it but enough of
their plane is going to ask here to
patiently ask them the doctors okay I'll
try to give it to you because it going
to go to my competitors and then when I
look at pics tragedy refers to consumers
will pick out their products from online
retailers okay well we cover pretty much
there we did it all right today I'm
sorry
oops I'm lied nevermind nevermind didn't
work out from there we go all right
we're going to do on expand and I want
to wrap this up ok so we covered a lot
today we've covered everything if you
want to know about promotion and
remember when you're look into this
class for a promotion standpoint ok if
I'm looking at this class from a
promotional no matter large small or
medium businesses all you have to look
at that you look at different market
advertising the bottom line is who's my
customers how do they react what media
to you what are they comfortable what
how do I interact with them suddenly and
plane till see in water you'll see so
they come into my product so I'm not
overbearing I'm not imposing and I'm not
becoming a nuisance will you remember me
but in the negative okay so my name is
dr. George much a key this is a
introduction of business organizations
there's a chapter 16 promotional
techniques for business you'll utilize
this as we're building up the
feasibility product new venture for
service you're going to be creating by
taking all 20 chapters in applying that
in presenting a portfolio for new
business as a team okay so uh we'll see
you I think we know that we're going to
be doing a personal finance and all the
last four chapters are all going to be
an accounting finance in money
management so you'll be interesting you
know about banking now you have the idea
everything else I have to know how to
obtain capital either to debt financing
or to equity again my name is dr. George
Pataki look me up on you're taking me an
online class for face-to-face class I
teach at a community college if you
can't take the
college i'm teaching look up your
community college there's a lot of
instructors design that have a similar
class and you'll get a good value a good
basic understanding about promotional
techniques for business and i'll see you
in the next section fight