Retail promotion.ppt

Associate Professor à Tribhuvan University
5 Feb 2023

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Retail promotion.ppt

  1. Retail Communication and Promotion Dr. Gopal Thapa Tribhuvan University
  2. Retail Promotion  Retailers communicate to their customers on a continuous basis through the store atmosphere, the products and services, promotional literature, advertising and other promotional means  Retail promotion is the descriptive term for the mix of communication activities which retail companies carry out in order to influence those publics on whom their sales depend. 2/5/2023 Prepared by Dr. Gopal Thapa 2
  3. Retail Promotion  Retailing promotion will have the main objective of influencing consumer perceptions, attitudes and behaviour in order to increase store loyalty, store visits and product purchase.  There is a need to influence trade contacts such as agents and suppliers as well as opinion formers such as journalists and writers. 2/5/2023 Prepared by Dr. Gopal Thapa 3
  4. Objectives of Retail Promotion  The marketing objectives need to be clearly defined so that the most effective types of promotion can be utilized.  The mix strategies could specify a need to achieve awareness; to inform; to educate; create purchase action; improve loyalty; change the perception of the customer, etc. 2/5/2023 Prepared by Dr. Gopal Thapa 4
  5. Objectives of Retail Promotion  The promotional objectives should have some precise terms for the purposes of carrying out the promotion and then monitoring the results  – so-called SMARRTT objectives 2/5/2023 Prepared by Dr. Gopal Thapa 5
  6. SMARRTT objectives  Specific : Objectives have to be precise and clear enough to offer direction as to the expected outcome.  Measurable: Objectives need a quantifiable outcome measurement statement against which an evaluation can take place.  Achievable: Objectives should be achieved and therefore budgets/resources need to be adequate. Staffing or supply problems may restrict achievements.  l 2/5/2023 Prepared by Dr. Gopal Thapa 6
  7. SMARRTT objectives  Realistic : The expectations of what the promotion can achieve have to be realistic. Promotion can only achieve so much and therefore expected changes in attitude to a brand, or demand for a retail offer, may not be realistic.  Relevant: Objectives have to be appropriate to the task set.  Targeted: All objectives need to be tied in with statements related to achieving results in the target audience(s). Different target audiences may need separate objectives.  Timed: Objectives have to be written with consideration of effect or change within a time frame of achievement. 2/5/2023 Prepared by Dr. Gopal Thapa 7
  8. Promotional Budget Approaches  Objectives and task method  Affordable method  Percentage of sales method  Competitive parity method 2/5/2023 Prepared by Dr. Gopal Thapa 8
  9. Communication Effects 2/5/2023 Prepared by Dr. Gopal Thapa 9
  10. 2/5/2023 Prepared by Dr. Gopal Thapa 10
  11. Advertising  The term advertising includes any paid form of non-personal communication through the media about a product that has an identified sponsor.  Advertising is used to achieve a whole range of objectives that may include changing attitudes or building image as well as achieving sales.  Advertising is often described as above-the-line promotion 2/5/2023 Prepared by Dr. Gopal Thapa 11
  12. DAGMAR Model  Defining Advertising Goals for Measured Advertising Results  unawareness;  awareness;  comprehension of the offer;  conviction;  action or inaction 2/5/2023 Prepared by Dr. Gopal Thapa 12
  13. Types of Advertising  Product advertising  Markdown event advertising  Institutional advertising  Co-operative advertising 2/5/2023 Prepared by Dr. Gopal Thapa 13
  14. Pull vs Push Strategies 2/5/2023 Prepared by Dr. Gopal Thapa 14
  15. Sales Promotion  Sales promotion involves any paid non-personal marketing communication activity, other than advertising, which offers an incentive to induce a desired result from potential customers, trade intermediaries, or the sales force.  This is sometimes referred to by the term sales incentive.  It is usual for a sales promotion campaign to be used as a temporary offer to the customer in order to stimulate an immediate response. 2/5/2023 Prepared by Dr. Gopal Thapa 15
  16. Examples  displays,  contests,  sweepstakes,  coupons,  frequent user (loyalty) programmes,  prizes,  samples,  demonstrations,  referral gifts 2/5/2023 Prepared by Dr. Gopal Thapa 16
  17. Relationship Marketing and Loyalty Schemes  Retailers are adopting relationship marketing (RM) schemes which aim to:  build greater customer loyalty and retention;  develop methods of creating longer-term relationships;  lead ultimately to increased sales and profits. 2/5/2023 Prepared by Dr. Gopal Thapa 17
  18. The Relationship Marketing Ladder 2/5/2023 Prepared by Dr. Gopal Thapa 18
  19. Personal Selling  Personal selling is the personal communication of information to persuade somebody to buy something. (Santon)  Personal selling is face to face interaction with one or more perspective purchasers for the purpose of making presentations, answering questions and procuring orders. (Kotler) 2/5/2023 Copy right reserved 19
  20. Importance of Personal Selling  Two-way communication  Persuasion  Relationship building  Non-selling functions 2/5/2023 Copy right reserved 20
  21. Personal Selling Process (Indoor Selling)  Draw attention  Ascertain needs  Presentation  Meeting objections  Closing the sale  Additional sales 2/5/2023 Copy right reserved 21
  22. Public Relations  Public relations involve a variety of programs designed to promote and or protect a company’s image or its individual products. (Kotler)  Public relations is a management tool designed to favorably influence attitudes towards an organization, its products and its policies. (Stanton) 2/5/2023 Copy right reserved 22
  23. Objectives of Public Relations  Announce new products  Build interest in established products  Announce policies and performance  Announce technological development  Maintain good relations with community  Counter negative publicity 2/5/2023 Copy right reserved 23
  24. Nature of Public Relations  Media relations • Personal communication • News releases • Feature articles • Publications  Public service activities  Sponsorship of events  Lobbying  Exhibits and displays  Problem solving 2/5/2023 Copy right reserved 24
  25. Public Relations Activities  Media information releases / contact / speeches  Production of PR materials (video, CDs, Web information, press kits, corporate identity materials, etc.)  PR events, media conferences and newsworthy ‘stunts’  Advertorials (which require PR copy along with an advertisement)  In-house and customer magazines  Facility visits to store etc.  Sponsorship and donations  Lobbying Prepared by Dr. Gopal Thapa 25
  26. Effectiveness of the Four Major Methods of Promotion 2/5/2023 Prepared by Dr. Gopal Thapa 26
  27. Any Queries? Thank You 2/5/2023 Prepared by Dr. Gopal Thapa 27