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In marketing and sales, marketing collateral is a collection of media used to support the sales of a product or service. Historically, the term "collateral" specifically referred to brochures or sell sheets developed as sales support tools. These sales aids are intended to make the sales effort easier and more effective. [1]
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. It is able to show what the company is intended to accomplish within the budget and also makes it possible for company executives to assess potential return on the investment of marketing dollars.
Publicity can also create a negative effect for those being publicized. One of the most important factors in relation to influencing a consumer's buying decision is how a company, brand, or individual deals with negative publicity. Negative publicity may result in major loss of revenue or market shares within a business. [13]
These are personal selling, advertising, sales promotion, direct marketing, publicity, word of mouth and may also include event marketing, exhibitions and trade shows. [2] A promotional plan specifies how much attention to pay to each of the elements in the promotional mix, and what proportion of the budget should be allocated to each element.
Sponsorship of an event, contest or race is a way to generate publicity. [4] Guerrilla marketing tactics are unconventional ways to bring attention to an idea, product or service, such as by using graffiti, sticker bombing, posting flyers, using flash mobs, doing viral marketing campaigns, or other methods using the Internet in unexpected ways. [1]
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It is important for an advertising campaign to carefully select channels based on where their target consumer spends time to ensure market and advertising efforts are maximized. Marketing professionals should also consider the cost of reaching its target audience and the time (i.e. advertising during the holiday season tends to be more expensive).
There is also integrated marketing that is related but not the same, integrated marketing attempts to unify all aspects of marketing communication. This can include advertising, sales promotion, public relations, direct marketing, and social media to create consistent, customer-focused messaging. [3]