Promotion

Marketing promotion is concerned with telling the target market / customers about the right product. Promotion is that marketing communication activity that attempts to inform and remind individuals and persuade them to accept ,resell, recommend or use product services idea or institution. Promotion mix : Advertising, sales promotion, publicity, personal selling and public relations.

Advertising
Advertising is any paid form of non personal presentation of ideas goods or services by an identified sponsor. Functions of advertising: Awareness building among the prospects. Efficient reminding Increase sales by demand creation Creates new customers Enhance product acceptance Improves competitive strength Customer education Prepares ground for introducing new product.

Advertising Management Advertising Management involves the major decisions in the management of advertising. Broadly it includes the following activities. Setting Objectives Setting Advertising Budgets Setting Advertising Strategy i) Message Decision ii) Media Decisions Evaluation of advertising campaign

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Setting objectives: Set on the basis of past decisions. The objective can be informing persuading or reminding the consumers through advertising Comparison with other brands Setting up budget: Four common methods are used to set total budget Affordable Budget: Affordable methods refers to setting the promotion budget which the management thinks the company can afford. Percentage of Sales Method: The budget can be figured by taking percentage of either last years sales or the forecasted sales Money to be spent on promotion = n% x sales

This method is simple Major weakness is that the budget becomes a consequence of sales rather than a determinant of sales. Sales down ; budget down justified???? iii) Competitive parity method: Setting the budget on the basis of promotional budget of the rival. iv) Objective and Task method: Developing budget by defining the specific objectives. Determine task to achieve objectives and estimate cost of task Sum of these cost will give the promotion budget.

Setting Advertising Strategy: Media decision : Media mix and Media schedule Media Mix : Combination of vehicles( magazines ,newspapers, audio visual etc..) that will carry adds to target audience Media Schedules : Combination of specific times Message Decisions: What to say to target audience , how to say it , so that people listen , understand and buy Evaluation of Advertising Campaign

Publicity

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Publicity is an important tool for promotion. Publicity is not easily controllable by firm. The firms ensure that the publicity that builds up is favorable to it. The firm should: Oversee and influence the stories that appear about it in media Conduct publicity campaigns around some topics important to public Firm should have good relations with the media News items appearing in the