Date post: | 14-Dec-2015 |
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• Personal Selling is preferred for pharmaceuticals, because it is so effective - but, it is expensive sometimes to contact everybody in this way
• Advertising is not as direct as personal selling, but you can reach a lot of people
Advertisement
• Advertisement is any paid form of non-personal presentation of ideas, goods, services, by an identified sponsors.
Relationship between Advertising and the Product Life Cycle
Brand AwarenessKnowledgeNew featureBenefitScope of useof existing product
CreateLiking PreferenceConviction Comparison
Stimulate repeat purchase More usage
Evaluating Advertising Effectiveness
• Communication Effect Research
– Consumer feedback method
– Portfolio tests
– Laboratory tests
• Sales-Effect Research
Advantages and Disadvantages of the Various Advertising Media
Media Advantages Disadvantages
Newspapers Flexibility Short lifespanCommunity prestige Hasty readinglocal mkt coverage Poor reproductionReader control of exposurehigh believability
Magazines Selectivity (geo and demo) Lack of flexibilityQuality reproductionLong lifePrestige associated withsome magazinesExtra services
Television Great impactMass CoverageRepetition High costFlexibility High clutterPrestige Lack of selectivity
Media Advantages Disadvantages
Radio Low cost Temporary nature ofPractical audience messageselection Little research informationMobility
Outdoor Quick communication of Limited audience Advertising simple ideas No creative
RepetitionAbility to promote productsavailable for sale nearby
Direct Mail Selectivity High cost per personIntense coverage Dependence on quality ofSpeed mailing listFlexibility of format Consumer resistanceComplete informationPersonalization
Advantages and Disadvantages of the Various Advertising Media
Major Sales Promotion Tools
Sample
Coupons
Cash Refunds
Price Packs
Premiums
Trial amount of a product
Savings when purchasing specified products
Refund of part of the purchase price
Reduced prices marked on the label or package
Goods offered free or low cost as an incentive to buy a product
Patronage Rewards
Point-of-Purchase
Contests
Sweepstakes
Game
Cash or other rewards for the use of a certain product
Displays and demonstrations that take place at the point of sale
Consumers submit an entry to be judged
Consumers submit their names for a drawing
Presents consumers with something every time they buy
Major Sales Promotion Tools
Steps in Effective Selling
Prospecting/Qualifying
Preapproach
Approach
Presentation
Overcoming objections
Closing
Follow-up