Sr No.| Title| P No.|
1.| Introduction| 2-5|
2.| Promotional Mix| 5|
3.| Sales process| 7-8|
4.| Advertising| 9-13|
5.| Other Methods| 14-15|
6.| Public Relations| 15|
7.| References| 18|
What is promotional strategy ?
Promotional strategy is the function of informing, persuading, and influencing a consumer decision. It is as important to non profit organizations as it is to a profit oriented company like Colgate-Palmolive. Some promotional strategies are aimed at developing primary demand, the desire for a general product category. For example, the Wisconsin Milk Marketing Board promotes natural cheese through advertisements without referring to any particular cheese maker. But most promotional strategies are aimed at creating selective demand, the desire for a particular product. Land O' Lakes campaign—"The taste that stands above. Land O' Lakes 4-Quart Cheese"—is an example. The objectives of promotion, the components of the promotional mix—personal selling, advertising, sales promotion, and public relations are discussed, and finally, the factors that influence marketers' decisions in selecting a promotional mix are explained.
Objectives of Promotional Strategy
Promotional strategy objectives vary among organizations. Some use promotion to expand their markets, others to hold their current positions, still others to present a corporate viewpoint on a public issue. Promotional strategies can also be used to reach selected markets. Most sources identify the specific promotional objectives or goals of providing information, differentiating the product, increasing sales, stabilizing sales, and accentuating the product's value. An organization can have multiple promotional objectives. The National Pork Producers Council has developed "The Other White Meat" promotional campaign primarily to position pork as a white meat rather than a red meat. Other goals of the campaign include increasing the sale of pork and informing consumers that pork is low in calories and cholesterol, high in nutrition, easy to prepare, and versatile. To illustrate the versatility of pork, one advertisement in the campaign features 21 different pork dishes and offers consumers a free booklet for those and other pork recipes.
In the early days of promotional campaigns, when there was often a short supply of many items, most advertisements were designed to inform the public of a product's availability. Today, a major portion of advertising in the United States is still informational. A large section of the daily newspapers on Wednesdays and Thursdays consists of advertising that tells shoppers which products are featured by stores and at what price. Health insurance advertisements in Sunday newspaper supplements emphasize information about rising hospital costs. Industrial salespeople keep buyers aware of the latest technological advances in a particular field. Fashion retailers advertise to keep consumers abreast of current styles. Promotional campaigns designed to inform are often aimed at specific market segments. Warner Bros. Records, for example, created a compact disc advertisement targeted at the baby-boom generation. In explaining the purpose of the ad, a Warner executive said, "We believe that most boomers are unaware that our classic recordings of the 1950s, 1960s, and 1970s are on CD along with the current releases." The ad informs baby boomers that Warner releases not only contemporary recordings but also some of its best albums from previous years, including those by Fleetwood Mac, Van Morrison, and ZZ Top, on compact discs. Included in the ad is a list of classic recordings now available on compact discs.
Differentiating the Product
Marketers often develop a promotional strategy to differentiate their goods or services from those of competitors. To accomplish this, they attempt to occupy a "position" in the market...