Weekly assignment 2

TV ads > Daily papers > Weekly papers/shopper papers > Web > Phone directories(?) > Direct mail > Radio > Transit > Outdoor > Local magazines > Flyers/circulars, Social Media > Mobile in-app advertising...

ANYTHING ELSE? <group>

Public Relations (p. 470)

“Public relations entails any communication that fosters a favorable image for the retailer among its public (consumers, investors, government, Channel members, employees, and the general public).”

“It may be nonpersonal or personal, paid or nonpaid, in sponsor controlled or not controlled. Publicity is any nonpersonal form of public relations whereby messages are transmitted through mass media, the time or space provided by the media is not pay for, and there is no identified commercial sponsor.”

Advantages & Disadvantages (p. 471)

cont...

OBJECTIVES: Public relations seeks to accomplish one or more of these goals:

To increase awareness of the retailer and its strategy mix

To maintain or improve the company image

To show the retailer as a contributor to the community’s quality of life

To demonstrate innovativeness

To present a favorable message in a highly believable manner

To minimize total promotion costs

Personal Selling

“Personal selling involves oral communication with one or more prospective customers for the purpose of making a sale.

VID: Futurama

Death of a Salesman

<GROUP>

ADVANTAGES & DISADVANTAGES (p. 472)

Selling Functions (addl.)

Sales Promotion

“Sales promotion encompasses the paid communication activities other than advertising, public relations, and personal selling that stimulate consumer purchases and dealer effectiveness.”

“The purpose of a promotional campaign is to build sales in the short-term—or sometimes as a long-term strategy of constant promotional pushes to reach sales goals.” #localmatressCo

<GROUP>

Cont... (sales promo goals)

To increase short-term sales volume

To maintain customer loyalty

To emphasize novelty

To compliment other promotion tools

ADVANTAGES & DISADVANTAGES (p. 475)

Ethics at Play – Using Promotional Goods (p. 475)

Some retailers purchase goods especially for promotions during key periods such as pre-Christmas sales, Black Friday, and cyber Monday. Many shoppers differ purchasing items at other times, preferring to buy during the special sales—anticipating that retailers will offer especially attractive prices at this times. Some retailers feature promotional goods that are especially produced for these times. For example, although a promotional good could be produced buy a well respected television manufacture, it may have a lower resolution monitor and less powerful speakers. There are advantages to selling promotional goods for retailers. The goods in naval retailers to achieve High levels of stored traffic, to generate high inventory turnover on these goods, and to maintain traditional profit margins. These goods also provide retailers with an opportunity to trade up consumers to more costly items.

QUESTION: Discuss the pros and cons the promotional goods from a consumer perspective? <GROUP>

Planning a Retail Promotional Strategy (p. 479)

Determining Promotional Objectives:

A retailers broad promotional goals are typically drawn from this list in developing a promotional strategy, the firm must determine which of these are most important:

Increase sales

Stimulate impulse and reminder buying

Raise customer traffic

Get leads for sales personnel

Present and reinforce the retailer image

Inform customers about goods and services

Popularized new stores and websites

Capitalize on manufacture support

Establishing a Promotional Budget (p. 480)

All-you-can-afford method

Incremental method

Competitive parity method

Percentage-of-sales method

Objective-and-task method

Selecting a Promotional Mix

After a budget is set, the promotional mix is determined: the retailers combination of advertising, public relations, personal selling, and sales promotion. Hey firm with A limited budget may rely on Store displays, website traffic, flyers, targeted direct mail, and publicity to generate customer traffic.

The promotional mix is affected by the type of retailer involved. In supermarkets, sampling, frequent shopper promotions, theme sales, and bonus coupons are among the techniques used most.

Implementing a Promotional Mix

The implementation of the promotional mix involves choosing which specific media to use (such as newspaper A and newspaper B), timing, message content, the markup of the sales force, specific sales promotion tools, and the responsibility for coordination.

Reviewing & Revising a Promotional Plan

And analysis of the success of a promotional plan depends on its objectives. Revisions should be made if preset goals are not achieved.

See: Ways to “test the effectiveness of [a] promotional effort,” on pg. 485...

An Integrated Promotional Approach (p. 482)

In today’s vast multimedia communication environment, two things are quite clear for retailers. First the message, look, image, in other communication factors must be consistent and integrated across all the media platforms that a given retailer chooses. There cannot be a disconnect; otherwise, Shoppers will become confused. Second, the effects of different media need to be carefully monitored. In particular, a retailer cannot ignore social media; it needs to embrace them and regularly post there.

Word of Mouth