04 May COMPARE AND CONTRAST WHICH STRATEGIES WOULD BE APPROPRIATE WITH EACH OF THE FOUR MAJOR TYPES OF SELLING
What are three sales promotion strategies? Compare and contrast the three strategies and use one product to illustrate each strategy. Compare and contrast which strategies would be appropriate with each of the four major types of selling (trade, retail, telemarketing, and e-marketing). Incorporate concepts and examples from this weeks lecture in your post.
Alternative Marketing
Marketing venues used to be so traditional: we had three network channels, outdoor billboards, newspapers, magazines, and a few radio stations located in each market. Not true for today! Todays marketer has to select from the traditional venues along with dozens of cable channels, satellite radio, and the Internet. The Internet alone adds selections such as smartphones, tablets, and social media. What is a marketer to do? How does a marketer begin to select a venue that has the highest probability of reaching the organizations potential customers on a limited budget?
Todays marketers have embraced a new method of communication; along with the traditional venues, marketers now also use alternative marketing tactics such as “buzz marketing, guerrilla marketing, product placements and branded entertainment, and lifestyle marketing” (Clow & Baack, 2012, p. 258). Sometimes this is called “tradigital marketing” because the marketing strategy is a combination of traditional and digital venues. How does a marketer select a venue? Marketers will use the venue believed offers the highest probability of reaching their targeted market segments.
Our text does a very good job of describing buzz marketing, guerrilla marketing, product placements and branded entertainment, and lifestyle marketing. Buzz marketing is just like word-of-mouth marketing, except it has a far greater reach because of the Internet. Get people talking about your product. Get people telling their friends about your product. Finally, get the people to blog via social media about your product. Do you see how such word-of-mouth marketing travels around the globe? And . . . how much does this cost the organization? Nothing. Word-of-mouth marketing continues to be the most influential marketing tool. Erik Qualman (2013) stated we have moved from word-of-mouth to literally “world-of-mouth” marketing all because of the Internets reach (p. 1). While guerrilla marketing and the other alternative marketing venues have an excellent chance of reaching the desired targeted market segment, nothing competes with the effectiveness of the “world-of-mouth.” Below is a discussion of consumer promotions, sales promotion strategies, and trade promotions.
Consumer Promotions
Consumer promotions are all around us in the form of “coupons, percent-off discounts, free trials and samples, buy one get one free deals, rebates, premiums, ad specialties, and contests and sweepstakes” (Kokemuller, para. 1). Although they are used to increase the sale of a product, their effectiveness in attracting new, long-term customers is usually the end goal. See this e
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