MARK 300 Lecture Notes - Lecture 12: Marketing Mix, Sales Promotion
Document Summary
New marketing communications model: factors changing faces of today"s marketing communication. Advancements in digital technology: marketers reach smaller consumer segments in interactive and engaging ways, mix of traditional and new media, content marketing managers create, inspire and share brand messages and conversations. Promotion mix- a company"s total promotion mix consists of tools that the company uses to engage customers, persuasively communicate customer value and build customer relationships: aka marketing communications mix. Components of marketing mix: advertising, sales promotion, personal selling, pr, direct and digital marketing. Imc- combine all components of marketing mix. Reaches masses of buyers at a low cost per exposure. Builds long term image for a product. Has public nature and is viewed as legitimate. Impersonal and lacks direct persuasiveness of salespeople: personal selling. Personal interaction between two or more people. Allows all kinds of customer relationships to spring up. Buyer feels greater need to listen and respond. Most expensive promotion tool: sales promotion.
