There are several ways for promoting a product in various areas of media. Promoters today use the online advertisements, endorsements, special events, and magazines or newspapers to promote their products and/or services. For customers frequently purchasing their products, there can be incentives given like free items and discounts.
The act of advertising a great service with either a short or long term goal of boosting sales is product promotion. Lots of companies these days make use of various marketing techniques through different communication mediums. Today, not a single medium is better than another since the most efficient medium to use will greatly depend on the type of product you are showcasing.
Nowadays, more and more companies are considering of using social media channels to advertise their products and services. Know that with these methods, companies will have the ability to showcase their offerings to anyone. In fact, because of the popularity of social media, most businesses had great success in showcasing their products, most especially to the younger generations who prefer to go online rather than watching the television or reading newspapers.
Basically, there are 3 main objectives of promotion. These are to increase demand, to differentiate a single product from other competing or similar products, and to present information to your target audience.
5 Components Of A Marketing Mix
Advertising – An identified sponsor will present ideas, goods, or services. Examples of these are print ads, brochures, direct mail, billboard, posters, motion pictures, banner ads, emails, in-store displays, and Web pages.
Sales Promotion – Both media and non-media marketing communication are used for a limited time in order to boost consumer demand, enhance product accessibility, and stimulate the demands of the market. Examples of this will include contests, self-liquidating premiums, product samples, coupons, trade shows, exhibitions, and tie-ins.
Direct Marketing – This is an advertising form allowing businesses to communicate straight to the clients. Techniques will include interactive consumer websites, email, mobile messaging, promotional letters, outdoor advertising, fliers, and catalog distribution.
Personal Selling – This is a process of persuading prospects to buy your products or services or perhaps to act on any idea with the use of oral presentations. Examples are samples, telemarketing, and sales presentations and training.
Public Relations – This is done by planting significant news about the goods you offer or perhaps a great presentation of it in the media. Examples will include charitable contributions, seminars, radio and TV presentations, and speeches.
The competition in today’s market arena is very tight and crowded. Hence, for businesses wanting to stand out from the competition, they must use excellent marketing techniques. Hosting events can be a great strategy.