Marketing/Advertising/Public Relations
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There are 2 discussion please don’t link them together. They are separate
DISCUSSION 1
Trade Promotions
What are the biggest advantages of trade promotions? What do you think
is one of the biggest mistakes companies make in doing trade promotions
and why? Incorporate concepts and examples from this week’s lecture.
DISCUSSION 2
Sales Promotion Strategies
What are the three sales promotion strategies? Compare and contrast the
three strategies and use one product to illustrate each strategy. How
does a marketer determine which strategy to use and why? Incorporate
concepts and examples from this week’s lecture.
HERE IS THE LECTURE THE INSTRUCTOR IS TALKING ABOUT! TO INCLUDE IN THE DISCUSSION
Week Four Lecture
Alternative Marketing
Marketing venues used to be so traditional: we had
three network channels, outdoor billboards, newspapers, magazines, and a
few radio stations located in each market. Not true for today! Today’s
marketer has to select from the traditional venues along with dozens of
cable channels, satellite radio, and the Internet. The Internet alone
adds selections such as smartphones, tablets, and social media. What is a
marketer to do? How does a marketer begin to select a venue that has
the highest probability of reaching the organization’s potential
customers on a limited budget?
Today’s marketers have embraced a new method of
communication; along with the traditional venues, marketers now also use
alternative marketing tactics such as “buzz marketing, guerrilla
marketing, product placements and branded entertainment, and lifestyle
marketing” (Clow & Baack, 2012, p. 258). Sometimes this is called
“tradigital marketing” because the marketing strategy is a combination
of traditional and digital venues. How does a marketer select a venue?
Marketers will use the venue believed offers the highest probability of
reaching their targeted market segments.
Our text does a very good job of describing buzz
marketing, guerrilla marketing, product placements and branded
entertainment, and lifestyle marketing. Buzz marketing is just like
word-of-mouth marketing, except it has a far greater reach because of
the Internet. Get people talking about your product. Get people telling
their friends about your product. Finally, get the people to blog via
social media about your product. Do you see how such word-of-mouth
marketing travels around the globe? And . . . how much does this cost
the organization? Nothing.Word-of-mouth
marketing continues to be the most influential marketing tool. Erik
Qualman (2013) stated we have moved from word-of-mouth to literally
“world-of-mouth” marketing all because of the Internet’s reach (p. 1).
While guerrilla marketing and the other alternative marketing venues
have an excellent chance of reaching the desired targeted market
segment, nothing competes with the effectiveness of the
“world-of-mouth.”
Consumer promotions are all around us in the form of
“coupons, percent-off discounts, free trials and samples, buy one get
one free deals, rebates, premiums, ad specialties, and contests and
sweepstakes” (Kokemuller, para. 1). Although they are used to increase
the sale of a product, their effectiveness in attracting new, long-term
customers is usually the end goal. See this example of a consumer
promotion done right with the target market in mind:
Consumer promotions are the incentives directed to the
end user (you). The end user could also be a business who consumes the
product and does not resell the product.
Unlike consumer promotions, trade promotions are used
by the manufacturer or other members of the distribution channel to
encourage the sale of an item that will eventually be resold (Clow &
Baack, 2012). Trade promotions are business-to-business. A terrific
venue for trade promotions would be a trade show. Trade shows are
international, national, and local. One trade show is the Oklahoma
Restaurant Association. Another local trade show is for the oil and gas
industry held in Oklahoma City. Many vendors will set up a booth in
hopes of meeting the decision makers of the restaurants. Sometimes this
is the only way to get in front of senior managers or owners. The people
who attend the trade show are somewhat relaxed because they are away
from their business and the day-to-day operations issues. Vendors who
sell food will hand out samples, and other vendors will hand out
trinkets – it can be a very festive, happy environment. Vendors will
offer a discount on the purchase of equipment or waive an installation
charge. Trade shows are a very effective way to meet decision makers and
potential customers!
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