Marketing Tactics

4 Key excerpts on "Marketing Tactics"

• 

  eBook - ePub

  Events Marketing Management

  A consumer perspective

  • Ivna Reic(Author)
  • 2016(Publication Date)
  • Routledge

    (Publisher)

  10Traditional Marketing Tactics for events

  Learning Outcomes

  By the end of this chapter, students should be able to:

  • • Identify and describe the nature of five key traditional Marketing Tactics: advertising, public relations, personal selling, sales promotion and direct marketing
  • • Understand the contexts in which the various traditional Marketing Tactics can be applied
  • • Make critical choices over the use of traditional tactics in constructing marketing plans

  A key marketing decision is the choice of promotional blend needed to communicate to the target audience .

  David Jobber (2010)

  Introduction

  In Chapter 4 we presented the evolution of marketing philosophies from production orientation towards societal marketing orientation. This shift has, understandably, been accompanied by a change in the type and profile of media channels and the nature of promotional tactics used to market products and services. In Chapter 9 we discussed the variety of strategic initiatives open to marketers which define their overarching approach to the marketing of products and services. In this chapter we now focus on identifying the so-called traditional Marketing Tactics that have been the primary avenue for communicating with consumers until the early 1980s. The chapter describes in detail each of the five staples of traditional marketing, identifies their purpose and main characteristics and provides practical examples that illustrate the key points. Chapters 11 and 12 which follow then elaborate on the contemporary tactics which have become more prominent over the past two decades: live brand experiences, sponsorship and e-marketing.

  Above or below the line?

  Marketing theorists and practitioners often engage in a debate around the usefulness of mass media versus more low-key approaches that speak directly to the consumer. Whilst ‘the line’ in most business conversations denotes a sort of moral or ethical threshold which separates the acceptable from the unacceptable business practices, in marketing ‘the line’ refers to the divide between the mass media and the direct, more personalised channels. Above-the-line (also known as ATL) marketing focuses on using mass media to communicate with as wide a range of consumers as possible and normally refers to the use of advertising and public relations tactics. Below-the-line (also known as BTL) marketing uses channels that can reach each particular consumer individually and offer a personalised encounter. ATL marketing was particularly relevant during the production and product orientation periods in marketing history, mentioned in Chapter 4

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  eBook - ePub

  Kellogg on Marketing

  The Marketing Faculty of the Kellogg School of Management

  • Alexander Chernev, Philip Kotler(Authors)
  • 2023(Publication Date)
  • Wiley

    (Publisher)

  collaborators (coffee growers) receive monetary payments for the coffee beans they provide and the strategic benefit of having a consistent demand for their product, in return for which they invest resources in growing coffee beans that conform to Starbucks' standards. By investing resources in developing and offering its products and services to consumers, the company (Starbucks) derives monetary benefit (revenues and profits) and the strategic benefit of building a consumer brand and enhancing its market footprint and portfolio of offerings.

  Defining the Tactics: Developing the Market Offering

  Marketing Tactics define the company's offering by delineating the specific attributes describing the actual good that the company deploys to fulfill a particular customer need. Whereas a company's strategy determines its target market and the value it seeks to provide to relevant market participants, tactics determine the specific offering that will deliver the value outlined in the strategy. The tactics are the means that managers have at their disposal to execute the offering's strategy and create market value.

  A company's offering is defined by seven attributes: product, service, brand, price, incentives, communication, and distribution. These seven attributes, also called the 7‐T framework (referring to the seven attributes defining the Marketing Tactics), can be defined as follows. The product and service aspects of the offering define the core benefits of the company's offering. The brand helps identify the company's offering, differentiate it from the competition, and create unique value beyond the value created by this offering's product and service aspects. The price is the amount of money the company charges for the benefits provided by the offering. Incentives, such as volume discounts, price reductions, coupons, rebates, premiums, and contests, enhance the value of the offering by reducing its costs and increasing its benefits. Communication informs the relevant market entities—target customers, collaborators, and the company's employees and stakeholders—about the specifics of the offering. Finally, distribution

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  Business marketing management in a Business-to-Business context

  • D.P. Warne(Author)
  • 2023(Publication Date)
  • Society Publishing

    (Publisher)

  Beware: Because of their ambition to expand, some owners of rapidly growing businesses forget to connect their marketing strategy to their targeted promotional efforts. Marketing and sales activities that are too expensive without sufficient product testing or pricing are classic errors. 7.3. YOUR PROMOTIONAL COMBINATION How many of these tactics can you employ to determine your company’s perfect promotional mix? Choose a Market Segment Companies to spend on advertising to reach the greatest number of individuals with their brand or product. Television, newspapers, magazines, direct mail, radio, and the Internet may all be used to display advertisements. Sales promotions are incentives for consumers to acquire items and services. Couponing or rebate schemes, as well as public contests and games, are examples of this. The public is made aware of a company’s products and reputation through this type of advertising. Press releases and press conferences are two examples. “Direct marketing” refers to marketing through direct channels such as in- person events, catalogs, emails, phone calls, and mail. Many businesses implement a basic strategy that includes a promotional mix. Designing Communication and Promotion-Mix Strategies 161 The marketing mix consists of four important components to establish an effective marketing strategy: Consumers pay you in the form of a price for your goods. Spend some time developing pricing tactics that will allow your organization to profit while also attracting new clients. A “product” is any service or thing that meets the demands of the consumer. Market changes may need updates to this. This category includes special discounts, advertising, and other types of sales promotion. The item and its price were created as a result of a promotion (Theron & Terblanche, 2010). Knowing your location is critical for selecting the best area to distribute your items.

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  Marketing Management N5 SB

  TVET FIRST

  • J Wiehan I Govender(Author)
  • 2018(Publication Date)
  • Macmillan

    (Publisher)

  Promotion or marketing mix tools Figure 4.2 gives a brief overview of promotion or marketing mix tools. We will explore them in more detail in Unit 4.4. 4.1.1: 201 Promotion or marketing mix tools Internet or online marketing: When a business markets products and services, and builds customer relationships, over the Internet Personal selling: When a sales force uses face-to-face selling to persuade prospective customers to buy or try a product or service, or to support a cause Public relations: A process that aims to establish good relations and communication with the stakeholders of a business to build a favourable image and promote the business’s identity Advertising: Any paid form of non-personal promotion of products, services or ideas by an identified sponsor Sales promotion: A short-term activity that aims to promote specific products or services in a planned period Direct marketing: When a business sends marketing information directly to a target market using various media types Figure 4.2: Promotion or marketing mix tools Each of the promotional tools in Figure 4.2 uses specific techniques to communicate with the target market. For example: • Advertising can use print media, radio, television, and indoor and outdoor media such as billboards (outdoor print or electronic display advertisements). • Public relations can use special events, conferences, press releases, blogs , websites and sponsorships to build relationships and gain publicity. • Direct marketing can use telemarketing, the Internet, websites, catalogues and mobile marketing to convey information about products or services. Figure 4.3: A billboard that will display an advertisement for a business’s product or service to thousands of potential customers Marketing communication is more than just these promotional tools, however.

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