BC: Chapter 11
FC: Chapter 11 by Garrett Swope
1: Vegas Trip | Promotional Plan -a written, detailed description of how the 4 elements of promotion will be used. (Advertising, sales promotion, publicity, personal selling). | Lesson 11.1 Promotional Plan | VEGAS!!
2: Let The Good Times Roll | Development of the Promotional Plan 1. Identify the target customer -design a comprehensive plan with a clear understanding of who's targeted. 2. Set promotional goals -written in a form that makes them measurable, so that successful promotion can be defined before it starts. 3. Develop a promotional budget -to state the budget amount as a percentage of expected sales. 4. Select the promotional mix -the blending of the promotional elements of advertising, sales promotion, publicity, and personal selling. 5. Measure the rusults -Sales data collected before and after the promotional efforts will show any changes in sales.
4: Social Networking -The relationships among people, whether casual or close. -One of the strongest mediums for passing on messages about products and services. Movie Promotions -Uses trailers to advertise -A well coordinated promotional plan can revive falling consumer interest. Professional Plans -Businesses that develop and implement promotional plans for clients are referred to as advertising, public relations, or promotional communicating agencies.
6: Lesson 11.2 Sponsorships & Endorsements | By association -Sponsorship = underwriting an event for the purpose of gaining positive association for a brand with the event. | Supporting College sports -sponsorship is about financing or generating revenue for the college programs.
7: Reasons for sponsorship -increase sales and profits -into a new product or service -to be identified with an event -earn the goodwill of the audience -entertain clients, employees, customers -enhance company's image -enter new market
8: Federal Trade Commission -US Gov agency whose mission is the promotion of consumer protection and competitive business practices | Legal Restrictions on Endorsements -The truthful opinions and beliefs of the endorser must be expressed in the endorsement. -The endorser must have real experience with the product.' -The endorsements may not contain any deceptive or misleading statements. | Celebrity Endorsements: | Good: -Consumers will buy things endorsed by celebs -Young people will follow their role models | Bad: -Very expensive to the sponsoring company -There is a risk of negative publicity if the endorser commits a crime or social blunder
9: What a business seeks in an endorser: -Positive, charismatic, trustworthy image -Celebrity most consumers know -Whose career is in process -Someone who presents few risks -Someone who has a believable relationship with the product
10: Lesson 11.3 Promotional Events | Themed Events -Centered around a specific theme and are held on an annual basis. | Event Coordination: Event Coordinator = Full time staff person. Exhibit = plans where various types of exhibits may be set up, rents space for businesses, assures exhibitors
12: Trade Shows: -Major events where people in a related industry meet to show their products, exchange ideas, and learn about the latest trends. | Country Music Festivals: -American country music is popular all over the world and is the theme of many festivals. | Awards Influence Sales: -The Oscars = Most famous and prestigious of the entertainment awards, Academy of Motion Pictures Arts & Science -The Grammys = National Academy of Recording Arts & Science, 18,000+ musicians and producers, where the top artists are recognized -The Emmys = Academy of Television Arts & Sciences presents the Primetime Emmy for excellence -The Tonys = Given to professionals in live theater for distinguished achievement, named after Antoinette Perry
14: International Showcase: -The Cannes International Film Festival, used to promote the film industry worldwide -Producers and sellers of films from throughout the world come together with purchasers of films at Cannes
15: What happens in Vegas... stays in Vegas!
16: Let The Good Times Roll