Study Guide Marketing

Topics: Marketing, Strategic management, Advertising Pages: 25 (6874 words) Published: August 9, 2013
* Business migration
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Business in WA » Small Business Development Corporation (SBDC) » Corporate Publications » Marketing - Promotion Strategy Marketing - Promotion Strategy
Promotion is the method you use to spread the word about your product or service to customers, stakeholders and the broader public. This BIZguide information is also available as a PDF which has been formatted for downloading and printing. Download the BIZguide Marketing - Promotion Strategy (4-page PDF 694KB) for printing Once you’ve identified your target market, you’ll have a good idea of the best way to reach them, but most businesses use a mix of advertising, personal selling, referrals, sales promotion and public relations to promote their products or services. 1. -------------------------------------------------

Advertising
2. -------------------------------------------------
Selling
3. -------------------------------------------------
Sales Promotion
4. -------------------------------------------------
Public Relations
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1. Advertising
What is advertising?
Advertising is a form of communication designed to persuade potential customers to choose your product or service over that of a competitor Successful advertising involves making your products or services positively known by that section of the public most likely to purchase them. It should be a planned, consistent activity that keeps the name of your business and the benefits of your products or services uppermost in the mind of the consumer. Why advertise?

The objective of advertising is to increase your profit by increasing your sales. Advertising aims to: * Make your business and product name familiar to the public * Create goodwill and build a favourable image

* Educate and inform the public
* Offer specific products or services
* Attract customers to find out more about your product or service The rules of advertising
There are four rules to consider when planning any advertising activity – ie: before you prepare and book any form of advertising. Aim - What is the primary purpose of the advertisement? Is it to inform, sell, produce listings or improve the image of your business? Target - Who is the target? From which sector of the public are you trying to achieve a response? For example is it male, female, adult, teenager, child, mother, father etc. Media – Bearing the aim and target in mind, which of the media available to you is the most suitable – ie: TV, radio, press or Internet? Competitors – What are your competitors doing? Which media channel do they use? Are they successful? Can you improve on their approach and beat them in competition? Developing effective advertising

Good advertising generally elicits the following four responses: Attention – It catches the eye or ear and stands out amid the clutter of competing advertisements. Interest – It arouses interest and delivers sufficient impact in the message or offering. Desire – It creates a desire to learn more or crave ownership. Action – It spurs an action which leads to achievement of the ad’s original objective – ie: it prompts potential customers to purchase or use your product or service. Making sure your advertisement is legal

Section 52 of the Trade Practices Act (Cth) 1974 prohibits misleading or deceptive conduct. You must consider the advertisement as a whole and the ordinary meaning of...

References: According to Shaw, Eric (2012). Marketing Strategy: From the Origin of the Concept to the Development of a Conceptual Framework. Journal of Historical Research in Marketing., there is a framework for marketing strategies.
* Market growth strategies
"In the early growth stage, the marketing manager may choose from two additional strategic alternatives: segment expansion (Smith, Ansoff) or brand expansion (Borden, Ansoff, Kerin and Peterson, 1978)" (48).
* Smith’s “differentiation and segmentation strategies”
"In product differentiation, according to Smith (1956, p
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