A vital component of a successful marketing strategy is the company’s plan for communication to its stakeholders. One segment of the communication plan is included in the marketing mix as the promotional element. A clear understanding of the role that promotion plays, as well as the various methods of promotion,

is important in developing the promotional plan. The following questions should assist you in relating the information in this chapter to several decisions in your marketing plan.

1. Review the communication process in Figure 15.1.

Identify the various players in the communication process for promotion of your product.

2. What are your objectives for promotion? Use Table 15.2 as a guide in answering this question.

3. Which of the four elements of the promotional mix are most appropriate for accomplishing your objectives? Discuss the advantages and disadvantages of each.

4. What role should word-of-mouth communications,

buzz marketing, or product placement play in your promotional plan?

Figure 15.1

Table 15.2

Transcribed Image Text:

Figure 15.1 The Communication Process Source Noise Coded message Communications channel FEEDBACK Decoded message Receiver or audience Noise