Promotional marketing is an intentional action by a company in an attempt of improving the level of consumer awareness of the existence of a particular product or brand in the market (Paley, 2006). It also provides a platform under which an organization can retain its customers, leading to customer loyalty not to mention luring some consumers from its competitors.
Overview of the Five Main Promotion Strategies
It is a non-personal form of communication paid for through mass media by an organization with the intention of capturing the public attention (Paley, 2006). It entails channeling communication to the public using different mass media not limited to the radio, television, and newspapers.
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Advantages. First, the message can reach a huge number of people simultaneously (Paley, 2006). It makes this form of promotion more powerful in terms of the depth the message can achieve when it comes to sensitizing the public on the existence of a particular product. Second, advertising allows repetition. It means that one advert can run for days, thereby aiding in ensuring that the promotion exercise attains maximum impact on the intended market.
Disadvantages. This form of promotion is expensive; thus, it sometimes leads to heavy capital loss if the intended impact is not attained (Cheverton, 2004). To attain the maximum impact, many companies try to make their ads aired during the primetime on the television. In the magazines and newspapers, the aim is to place the advert on the front cover or a whole page to attract the intended attention. This, in turn, means spending more money to be allocated prime space and time in different mass media platforms. Furthermore, advertising does not provide feedback platform, thereby making it hard to verify if the targeted group received the message.
Public relation entails managing the way information is shared between an organization an the public (Cheverton, 2004). It also presupposes the healthy interaction between a company and consumers. Concerning the promotion of products, public relations may take the form of sponsorship, announcement, and grand opening.
Advantages. In some cases, public relations are free when company representatives meet public members and interact answering all questions raised about the product. However, the greatest advantage that emanates from public relations is the fact that it allows the organization to connect the product with the public (Paley, 2006).
Disadvantages. The major disadvantage of public relations promotion exercise is the lack of control. It is highly evident when the promotional exercise is entrusted to an employee who has to conform to the situation when answering the questions from prospective customers.
The most conspicuous action under sales promotion is the incentives given to prospective and prevailing customers to increase sales (Paley, 2006). Customers are given additional services or products as a result of making a purchase. They can receive win presents from initiated contests or can also have a chance of receiving additional products for the charge of one item. All these actions are aimed at luring more people into consuming more units of the product.
Advantages. It is obvious that in most cases, sales promotions lead to an increased rate of sales. Moreover, sales promotions are helpful techniques when introducing a new product into the market. Overall, sales promotion provides one of the most effective ways of capturing the interest of people.
Disadvantages. The act of luring customers may sometimes lead to a situation whereby the purchasing decision becomes dependent on the existence of the sales promotion. It means that the company may experience reduced sales when the promotion is over. On the other hand, giving out an extra service or product to promote sales may lead to reduced profit margin.
It is a situation when the company sells its products directly to the public (Cheverton, 2004). The goal is upholding the direct contact with customers, hence eliminating the use of retailers.
Advantages. The one-on-one contact with consumers enables the organization to identify the demands of customers promptly. It is also possible to handle any queries from clients in a comprehensive manner (Cheverton, 2004). Furthermore, it provides a platform where customers can get first-hand professional insights into the best way of obtaining the maximum utility of the product.
Disadvantages. This mode of marketing is expensive since the company should consider all the cost incurred before customers receive products (Paley, 2006). Any mistake that occurs within the undertaking is directly affecting the trust and the identity of the company. Overall, the undertaking is time-consuming since there is a need to ensure that products in different market segments are delivered based on the prevailing taste and preference.
It is a marketing undertaking where the organization utilizes sales forces bestowed with the responsibility of engaging with customers on a face-to-face basis (Cheverton, 2004). The goal is identifying the prevailing needs and influencing clients to start consuming the product.
Advantages. It is possible to identify the customers’ needs, thereby helping the company to serve better its consumers. Moreover, the face-to-face exchange between the company representatives and customers enhances customer loyalty (Cheverton, 2004). Finally, it provides a platform where it is possible to receive an immediate response from clients.
Disadvantages. It is labor intensive because it entails having professional representatives throughout the exercise, hence expanding wage budget. Besides, the exercise is time-consuming since every customer has to be heard and served individually.
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