Introduction to Marketing Strategy Final Exam Study Guide
MKTG: 3000: 0009 Fall 2014 Thomas Walsh
Power point Info to Fill in Study Guide Provided by Teacher * Promotional Strategy * Push v. Pull Strategy * * Promotion and Product Life Cycle * * Consumer sales promotion tools *

* Promotion Goals * * Informative Promotion * Increase awareness * Explain how product works * Suggest new uses * Build company image * Persuasive Promotion * Encourage brand switching * Change customers’ perceptions of product attributes * Influence immediate buying decision * Persuade customers to call * Reminder Promotion * Remind customers that product may be needed * Remind customers where to buy product * Maintain customer awareness * Connect Promotion * Form relationships through social media * Encourage transparent information exchange * Customers become brand advocates * Advertising-Most commonly distributed by traditional media, though, increasingly through non-traditional media, such as websites, emails, blogs, and interactive video kiosks in malls and supermarkets * * Advantages * Reach large number of people * Low cost per contact * Can be micro-targeted * Disadvantages * Total cost is high * National reach is expensive for small companies * Pricing * New product pricing strategies * Pricing and Product Life Cycle * Social Media-Promotions tools used to facilitate conversations among people online * Marketing considerations * Marketing Strategies * Marketing Channels