Event promotion strategy

Promotion is vital in creating awareness of the event, a desire to participate, and a feeling by the potential participant that the investment of time and money validates the benefits the event offers.

Events can be related to meetings, sports, shows, performances and social gatherings. Marketing is usually described as managerial process which is responsible for identifying, anticipating and satisfying customer requirements profitably when the event marketing is defined more interactive one when the event management interacts with the event participants and visitors.

The direct experience supplied by the event is used to promote the interaction between consumers and brand and increase the connection between consumers and brand; through the direct interactive contact, the effect brought by event marketing is more significant.

Events must be as interactive and engaging as possible, depending very much on the characteristics and type of event. At the end of the event to give participants promotional gifts, so they could be proud that they took part in the event, providing discounts and incentives for those who wish to purchase products / services, to provide samples within the event, to award, achievement within the event of the prizes with contests or raffles with consistent prizes.

Key success factors for events:
*Clear objective of each event
*Meticulous planning
*Flawless execution
*Solid promotion
*Measurement of result
Event marketing strategy

Marketing mix and its components

Marketing mixes have a number of facets and are important to devise strategies in order to manage the dynamic environmental effects of the market. Marketing mixes are inter-related, interdependent, and also a combination of many factors. Marketing mix means the product, distribution, promotion and pricing strategies to produce and carryout exchanges and achieve the target markets.

"Marketing mix -a set of relevant factors and solutions that enable customers to meet the (national) needs and achieve the goals set by the company. According to Philip Kotler “Marketing mix is the set of controllable variables that the firm can use to influence the buyer’s response”.

Product refers to the goods and services offered by the organization. It includes half of the material goods, such as furniture, clothing and grocery items and intangible products, such as services, which users buy. Product’s appearance, function, and support make up what the customer is actually buying. Successful managers pay close attention to the needs their product bundles address for customers.

Price is one of the most important marketing mix items and many scientists consider the price as one of the most important elements of the market, which increases not only profits, but also market share. It is the second most important element in the marketing mix. Many factors like demand for a product, cost involved consumer’s ability to pay, prices charged by competitors for similar products, government restrictions etc. have to be kept in mind while fixing the price.

Another very important element of marketing is a place that is also called the distribution, which is defined as the process and methods by which products or services reach customer. The distribution channel is defined as an integral part of the service, which involves the service provider, intermediaries (agents) and the same service user (in most cases). Products must be made available to the consumers at a place where they can conveniently make purchase.

The last 4P marketing complex element of the promotion, which helps to increase consumer awareness in terms of their products, leads to higher sales and helps to build brand loyalty. It is the communication process between the customer and the product or service, it is what the promotions try to tell target customer about the product, and it’s the way to make customer aware about the product.

Customer research is a key element in building an effective marketing mix. Knowledge of the target market and competitors will allow the company to offer a product that will appeal to customers and avoid costly mistakes.

Marketing mix and its components

Sales promotion

Sales promotion is an important element of promotion mix. Promotion mix is a combination of promotional tools used by a business unit communicates with target audience.

Sales promotion is any activity that offers incentives for a limited period to induce a desired response from those who are targeted. It stimulates the interest, trial, or purchase by final customers or others in the channel.

The basic purpose of sales promotion is to stimulate in the spot buying by prospective customers through short-term incentives. These incentives are essentially temporary and nonrecurring in nature.

As a matter of fact, sale promotion activities aim at supplementing and coordinating selling and advertising. The development and management of an effective sales promotion program requires an major commitment by a firm. During any given year, it is typical that as much as 30 percent of brand management time is spent on designing, implementing and overseeing sales promotions.

Sales promotion includes tools or techniques for
*Consumer viz, samples, coupons, contests, cash-refund offers, free-trials, price-off
*Dealers viz, display-aids, sales –contents, free ad-materials, free tour, buying allowance, dealer gift and other incentives
*Salesman viz bonus, contests, free tours, gifts, etc.
Sales promotion

Point of sale display

The term ‘point-of-sale’ refers, quite literally to the place in which a customer will decide to purchase the product – not just the shop, but the specific areas in which products are displayed and where money and goods are exchanged – often a counter or sales desk. They are the devices used to promote new products, ideas or opportunities.

Point-of-sale display material is often linked to sales promotion schemes including coupon, special pack, premium offer and other methods of inducing users to try a new product not remain loyal to an existing product or brand.

A point-of-sale display might simply an arrangement of the products themselves, possibly in a specially designed container or dispenser.

Marketing organizations occasionally use consumer competitions as part of their communications strategy - this is also helpful in indicating the preference points of the consumer and can be an aid to further product development. Point of sale material often has an important role in promotion such competition.

 Cardboard is usually used for point of sale displays. There are several reasons for this:
*Cardboard is cheaper than acrylic. This is important because usually a point of sale displays only have to last for as long as the product promotion.
*It is easy to print on to. This helps to keep costs down
*It can be folded flat for delivery. This is important factor for transportation and storage
Point of sale display

Promotion strategy

When considering the planning of a promotional campaign it is important from the outset to have a clear understanding of what a plan is and what use it has to the management of the promotional campaign.

A plan is simply a design for achieving a specific objective or several objectives.

Promotional strategy is a plan for the optimal use of the promotional mix elements: advertising, public relations, personal selling, sales promotion and social media. Promotional objectives, policies and programmes as a whole and individual approach of each elements blend into the promotional strategy.

The main function of a marketer’s promotional strategy is to convince target customers that the goods and services offered provide a competitive advantage over the competition.

There are two types of sales promotion:
*Push promotion – marketing team push the product-service mix through the service delivery system or channels of distribution. This strategy concentrates on middleman or retailers who push the sale of the product to the final consumers.

*Pull promotion – aiming at stimulating consumer’s interest and having them pull the product through the channels of distribution. It persuades buyers to go to the sellers to buy. Sales promotion, particularly customer promotion, is an important form of pull strategy, which asks the sellers or retailers to attract the buyer.
Promotion strategy

Marketing mix

The marketing mix is one of the most widely accepted concepts in the discipline of marketing. According to William Stanton, marketing mix is the combination of a product, how it is distributed and promoted and its price.

The marketing has been defined as the controllable variables the company puts together in order to satisfy target markets and achieve the firm’s objectives.

Traditionally, the marketing mix has four components of variables known as the 4 P’s: product, price, place and promotion.

The marketing Mix was originally developed by Prof. Neil Borden of Harvard which has got six elements – Product Planning, Pricing, Distribution, Promotion, Servicing and Market research.

These were later reduced to four elements only (4 P’s) by McCarthy. Firms will manipulate the marketing mix variables to formulate strategies that are combined in marketing program for a product or service.

In 1961, Albert Frey suggested that all the marketing mix variables could be categorized into just two groups:
*The Offering (product, packaging, service, brand and price)
*The Methods/Tools (distribution channels, personal selling, advertising and sales promotion).
Marketing mix

Advertising and Marketing Communication

Advertising and Marketing Communication
Advertising is one of the best known and recognized areas of the marketing communications mix.

Unfortunately, it is a term widely used, mistakenly so, to refer to all types of marketing.

To avoid confusion with other promotional tools, it is best to limit its definition to highlight its essential features, which are that it is paid for, non personal and uses the mass media (TV, radio, cinema, press, posters and internet).

Communication via a recognizable advertisement placed in a definable advertising medium, guaranteeing delivery of an unmodified message to a specified audience in return for an agreed rate for the space or time used.

Advertising is also known as above the line promotion because it uses the mass (or above the line) media.

It is a phrase used because the mass media pay published commission rates to advertising to advertising agencies and these are seen as being ‘above the line’ on contrast to all other forms of promotion in which the mark-ups are unknown or ‘below the line’.

How advertising actually works is something that is hotly debated, some believing that it has direct effects on sales and others who believe that the effect is significant but more subtle by primarily influencing awareness and predispositions.

In this way, sales are achieved by advertising working with the other elements of the marketing communications mix.

It is best to think of advertising as having a number of roles and effects and working differently in each.

It can be simplified to three:

• Persuasion (to take action, to buy)

• Publicity (to make familiar and remind)

• Association (to increase the perceived value through semiotic associations)

Advertising and Marketing Communication