Managerial Marketing Bus620 Week1-Discussion4

Promotion

Adam Timothy

Ashford

Managerial Marketing

BUS620

October 11, 2011

Promotion

A major component of market a product is the way in which a company decides to promote it. Finding the right promotional mix for a product is developing a marketing plan which outlines how to effectively promote a product. Developing that strategy requires careful research in order to make it successful. Promotion can be extremely expensive and so it should never be taken lightly. One needs to define the targeted audience, set the promotion objectives, set the budget, design the mix and then evaluate the mix (Mullins & Walker, 2010, p. 369). When it comes to advertising, typically a company will approach its promotional strategies using various mediums, including print, television, radio, mailers, social media, web-based and other forms of non-traditional marketing such as experimental marketing.

Out-of-home media include billboards but also include many other types of advertizing such as advertizing on busses, taxies, sport stadiums, bus stops and shopping malls. Most of these can be very effective in exposure, leading to brand recognition and ultimately sales. I come from the shopping center world and so I have seen several out-of-home mediums. In fact, our shopping centers have become very appealing to marketers in that a shopping center can host upwards of 1.5 million in foot traffic per month. These are shoppers, on foot, in a shopping mode, with cash in hand and a high propensity to shop. An ad that comes to mind comes from a retailer of women’s fashion known as bebe, this retailer is similar to a Forever 21 or Express stores in their offerings. The ad was used in several of our shopping centers on the East Coast and were accepted well. The ad is really quite obscure, yet to the target audience the brand is recognizable, Brand is considered as a reflection of the spirit and soul of an organization. This proclamation proposes that brand is not representation of...