Promotions in Marketing
Ever wondered why some brands do better than others? No need to wonder anymore because in this text we will explain why it is so and also give viable solutions to be on par or at least do well in your own line of business. It is clear and quite obvious that your brand is as good as dead if no one knows about it or are aware of it. Building a brand is an important aspect of the marketing world. People accept your brand if they have heard about it before.
Big brands go through intensive marketing strategies to come up with advertising campaigns that will make them memorable and so be the top recommended brand in their business industry. The marketing mix is composed of four P’s which are the product, price, place, and promotions. Today we are going to explore the fourth and final P of the marketing mix, promotions. This is to ensure that our brand reaches the target audience at an effective level.
Promotions in marketing are communications types used to give information or lure target audiences of the relative merit of a product, service or brand.
Promotions are for the following reasons:
1. To create awareness
2. To build your brand
3. To position your brand in people’s minds
4. For your brand or product to be accepted
5. To target your audience
6. For brand recall
7. To acquire new customers
The information in promotions can be communicated through verbal or visual communications.
3 ways you can promote a product or services:
1. At an event Venue
2. Traditional Mediums
3. Digital Media
A promotion isn’t effective if the public doesn’t know about your product. A firm foundation in design, branding and customer relationships is important for a successful promotional campaign. This will help you understand the different media platforms to get the message of the brand from the company to the consumers. You must have a particular purpose in mind, bring new customers to a company or keep the repeat business from existing customers.
The purposes are as follows:
· To present information to consumers
· To increase demand
· To differentiate a product
The goal here is to generate a program that can measure before starting a new proportional campaign. Create any specials offers to raise a customer’s interest and influence or purchase. Make the product or company stand out from its competitors.
Promotions are proven an effective way of making sure that people get to know your brand, grow with it and trust it for future use. With promotions you allow your product to find a place in people’s lives and so they can associate themselves with it. You know your product well and you understand the impact it can have on people, so it is important that you come up with a killer strategy that will result in a successful promotional campaign.