Chapter No. 15 Page No. 125 INTRODUCTION RECENT POPULAR ADVERTISEMENT CARRIED A MESSAGE: NOT ADVERTISING A GREAT PRODUCT IS LIKE WINKING AT A BEAUTIFUL GIRL IN THE DARK. YOU KNOW WHAT YOU ARE DOING BUT NOBODY ELSE DOES. THIS MESSAGE BRINGS THE IMPORTANCE OF ADVERTISING TO THE FORE FRONT. IT IS NOT GOOD TO HAVE A GREAT PRODUCT. OTHERS MUST KNOW. YOU HAVE TO CREATE AN AWARENESS AND THROUGH THAT AWARENESS A WANT.
Chapter No. 15 Page No. 126 INTRODUCTION TO SUCCESSFULLY PROMOTE A PRODUCT ONE MUST SHOW HOW THE PRODUCT CAN BENEFIT THE CUSTOMER AND WHY IT IS BETTER THAN OTHERS IN THE MARKET.
Chapter No. 15 Page No. 126 AIMS OF PERSUASION: THE MUST PERSUADE TO BUY THE PRODUCT OR AVAIL SERVICE. AWARENESS: AWARENESS MUST BE CREATED THAT THE PRODUCT EXISTS. INFORM: THE PUBLIC MUST BE INFORMED OF THE LAUNCH / EXISTENCE. REMINDER: CUSTOMERS /PUBLIC. SHOULD BE REGULARLY REMINDED OF THE EXISTENCE OF THE PRODUCT. SATISFACTION REINFORCEMENT: CAN BE USED TO REINFORCE CUSTOMER SATISFACTION.
Chapter No. 15 Page No. 127 METHODS OF THE MANNER PRODUCTS AND SERVICES ARE PROMOTED ARE SEVERAL: MEDIA ADVERTISING. HOARDINGS. CINEMA AND TELEVISION ADVERTISING. TELEMARKETING. E-MAIL. MOBILE. MAILERS. CONT..
Chapter No. 15 Page No. 128 METHODS OF EVENTS. SPONSORSHIPS. PUBLIC RELATIONS. SALES. PERSONAL SELLING. WORD OF MOUTH. GENERAL. THE COST. THE COVERAGE. TARGET.
Chapter No. 15 Page No. 129 COMMUNICATION COMMUNICATION BEGINS WHEN A COMPANY OR AN INDIVIDUAL DECIDES TO SEND THE MESSAGE THROUGH A PARTICULAR VEHICLE TO AN AUDIENCE. THERE ARE SEVERAL STAGES IN THE PROCESS: THE SOURCE: THE IMPACT OF THE MESSAGE DEPENDS GREATLY ON THE CREDIBILITY OF THE SENDER. ENCODING: THE MESSAGE MUST BE EMPATHETIC AND MUST BE DIRECTED AT THE PERSON TARGETED IN A LANGUAGE HE UNDERSTANDS. CONT.
Chapter No. 15 Page No. 130 COMMUNICATION THE MESSAGE: THERE WILL BE A PURPOSE FOR THE MESSAGE - CREATE AWARENESS. THE MEDIA: THE MESSAGE IS CONVEYED THROUGH THE MEDIA. THE ORGANIZATION MUST CHOOSE, BASED ON THE TARGETED AUDIENCE, THE MOST APPROPRIATE MEDIA. DECODING: DECODING IS THE TRANSLATING OF THE MESSAGE TO UNDERSTAND WHAT THE SENDER INTENDS TO SAY. CONT.
Chapter No. 15 Page No. 130 COMMUNICATION THE RECEIVER: THIS IS THE PERSON TO WHOM THE MESSAGE IS SENT. AT THE TIME THE MESSAGE IS SENT, THE SENDER MUST KNOW WHO THE RECEIVER IS. FEEDBACK: AFTER MESSAGES ARE SENT, FEEDBACK MUST BE SOUGHT. THIS IS TO ASCERTAIN WHETHER THE MESSAGE HAD THE REQUIRED IMPACT. NOISE: MESSAGES CAN BE DISTORTED OR INTERRUPTED BY EXTERNAL FACTORS.
Chapter No. 15 Page No. 131 STRATEGY CAMPAIGN: VERY OFTEN A CAMPAIGN IS CREATED WITH CONTESTS AND LIKE IN ORDER TO MAKE THE EXCITING. MEDIA: WHAT MEDIA SHOULD BE CHOSEN TO ADVERTISE / PROMOTE THE PRODUCT? THE FIRST CONSIDERATION IS COVERAGE. HOW MANY PEOPLE WOULD SEE IT? THEN IT IS THE FREQUENCY OF THE ADVERTISEMENT. IT IS ALSO IMPORTANT TO CHECK HOW COST EFFECTIVE THE ADVERTISEMENT WOULD BE. EVALUATION: IT IS IMPORTANT TO EVALUATE THE EFFECTIVENESS OF THE ADVERTISEMENT /.
Chapter No. 15 Page No. 132 PUBLIC RELATIONS PUBLIC RELATIONS ARE IMPORTANT IN PROMOTING PRODUCTS. PUBLIC RELATIONS WORKS THROUGH THE MEDIA AND IN OTHER WAYS PROMOTING AN IMAGE OF THE ORGANIZATION, SUCH AS: EVENTS. SPONSORSHIPS. SPEECHES. SEMINARS. SOCIAL ACTIVITIES. EXHIBITIONS. etc.
Chapter No. 15 Page No. 133 SALES SALES IS ANOTHER WAY OF MOTIVATING STAFF AND INCREASING SALES. S MAY BE INTERNAL OR EXTERNAL. INTERNAL: INTERNAL IS GIVING INCENTIVES TO STAFF TO SELL MORE. EXTERNAL: INCENTIVES ARE GIVEN TO CUSTOMER / PROSPECTIVE CUSTOMERS. e.g. A BANK GIVES GOLD COINS TO ONE IN EVERY 50 CUSTOMERS WHO OPEN A FIXED DEPOSIT ACCOUNT. CONT.
Chapter No. 15 Page No. 133 SALES : SALES CREATES AWARENESS AND INFORM THE CUSTOMER OF A NEW PRODUCT. ENCOURAGES CUSTOMERS TO TRY OUT THE PRODUCT. CREATES AN INTEREST IN THE CUSTOMER FOR THE PRODUCT. TEMPTS THE CUSTOMER AND DRAWS HIM TO USE IT. GIVES THE CUSTOMER A REASON TO TRY THE NEW PRODUCT. CONT.
Chapter No. 15 Page No. 133 SALES SALES : ENCOURAGES THOSE ALREADY USING THE PRODUCT AND MAKES THEM FEEL IT IS WORTHWHILE. COUNTERACTS THE EFFECTS OF A DOWNWARD TREND IN DEMAND. CREATES A FEELING OF COMPETITION AMONG BANKERS. REINFORCES THE FEELING THE PRODUCT IS GOOD.
Chapter No. 15 Page No. 134 PERSONAL SELLING PERSONAL SELLING: IS THE SELLING OF A PRODUCT BY THE BANKER TO THE CUSTOMER. THROUGH A SALES CALL, AT THE BANK / CUSTOMER PREMISES OR BY PHONE. OCCURS FACE TO FACE WITH THE CUSTOMER. THIS ENABLES THE BANK TO LIST THE PRODUCT S BENEFITS, ANSWER ANY CONCERNS, CLARIFY AND CONCLUDE.