promote_1000

A company's product needs to known in order to be sold. That's why marketing is so important. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive relations or creation of a corporate image.

To obtain results, they use the 4 principal promotional tools: advertising, sales promotions, public relations and personal selling.

-Advertising: informs costumers about the existance and benefits of products and services, and attemts to persuade them to buy them. The advantages are that advertisements are throughout the media (newspapers, internet,tv…), easy to get the target market's attention, and a company can choose which way they prefer depending on their budget. The important inconvenient is that excessive advertising is counter-productive because after too many exposures people tend to stop noticing, or begin to find them irritating.

-Sales promotion: are temporary tactics designed to simulate either earlier or stronger sales of a product. For example: free samples and coupons. Firstly, they attract price-conscious brand-switchers, and also to boycott a competitor's promotion. However, it's expensive because it has to be complemented with advertising (so that costumers know the new offer), and it's normally a tool which only big companies can use, preventing the growth os smaller business.

-Public relations: is concerned with maintaining, improving and protecting the image of a company or product. The main element is publicity, with high level of credibility, which is proved that is more effective than advertising, in addition, it's low cost. On the other hand, there is a lack of control over how your releases will be used, and frustration over the low porcentage of releases that are taken up by the media.

-Personal selling: is oral communication with potential buyers with the intention of making a sale. It's a good way of getting closer to the costumer, who also can give great advice to the company. Besides, it's the most expensive promotional tool.

To sum up, promotion is a profit's key factor, which should be combined with the rest of the actions of a company.

No mark given.

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License