Important

Promotion Strategies
Grundy County Small Business College July 18, 2006 Megan L. Bruch Marketing Specialist

Objectives
• Define promotion and fit in marketing • Key factors to consider • Promotion strategy options

Promotion
• The act of furthering the growth or development of something • Activities to prompt or entice customers • Especially through advertising, publicity, sampling or discounting

Linking Seller and Buyer
• The seller’s four Ps
• Product • Price • Place

• The buyer’s four Cs
• Customer benefit • Customer cost • Convenience

• Promotion

• Communication

Source: http://www.foodsci.purdue.edu/outreach/vap/materials/marketing.pdf

Key Factors to Consider
• Promotion strategy should be developed to 1. Reach your target market 2. Meet your goals and objectives

Reach Your Target Market
• Clearly define and understand your target audience • Get in the customer state of mind • How does this audience make purchasing decisions? • What methods would be most effective in reaching this target audience?

Reach Your Target Market
• Consider these groups when developing promotions
• Influencer – a person’s whose view or advice influences the buying decision • Buyer – a person who makes the purchase transaction • User – a person who uses the product/service

Meet Your Goals and Objectives
• Create promotion strategies (and associated budget) based on…
• Your goal/objectives • Expected sales • Costs of marketing activities

Promotional Strategy Options
• • • • • Word-of-Mouth Publicity Sampling Discounting Advertising

Word-of-Mouth
• Passing of information by verbal means, especially recommendations
• In an informal, person-to-person manner, rather than by media or advertising • Some statistics…
• A satisfied customer will tell 4 or 5 others about a pleasant brand experience. • An unsatisfied customer will tell 7 to 13 others. • “It costs 3 to 5 times more to replace than to keep a customer.”
(Wreden, 2003)... [continues]

Read full essay