Forms of promotion
|Forms of promotion|
Promotion is the process of creating awareness, interest and preference for a product, service or organization. It is an essential element of marketing used to inform customers of the value of a product or service and to influence them to purchase. Promotion is used to differentiate a company's products or services from other similar offerings in the marketplace. It can be done through various methods such as advertising, personal selling, sales promotions, public relations, direct marketing, or through digital channels such as social media or a company website. It is important for management to understand how to effectively promote their products and services in order to achieve their desired goals.
Example of forms of promotion
- Advertising: Advertising is a form of communication used to persuade an audience to take some action with respect to products, ideas, or services. It includes the use of various media such as television, radio, print, outdoor, and digital to communicate a message to a large number of people. Examples of advertising include television commercials, radio spots, print ads, billboards, and sponsored content on social media.
- Personal Selling: Personal selling is a form of promotion that involves face-to-face interaction between a salesperson and a potential customer. It is used to build relationships, provide customer service, and educate customers. Examples of personal selling include sales presentations, sales calls, and customer service interactions.
- Sales Promotions: Sales promotions are short-term incentives designed to encourage customers to make a purchase. Examples include discounts, coupons, rebates, sweepstakes, loyalty programs, and point-of-sale display materials.
- Public Relations: Public relations is a form of promotion that focuses on building relationships with key stakeholders such as the media, customers, and influencers. Examples include press releases, media relations, and outreach to key influencers.
- Direct Marketing: Direct marketing is a form of promotion that involves targeting specific customers with customized messages. Examples include direct mail, email, and telemarketing.
- Digital Channels: Digital channels are forms of promotion that involve using digital tools to reach customers. Examples include social media, search engine optimization, and content marketing.
When to use forms of promotion
Promotion is an essential element of marketing used to inform customers of the value of a product or service and to influence them to purchase. It can be used in a variety of situations, such as:
- To create awareness and interest in a product or service: Advertising, public relations, and digital channels such as social media are all effective ways to create awareness and interest in a product or service.
- To differentiate a product or service from competitors: Promotion can be used to differentiate a company’s products or services from other similar offerings in the marketplace. This can be done through promotional campaigns, personal selling, or direct marketing.
- To increase sales and market share: Sales promotions, such as discounts or giveaways, can be used to encourage customers to purchase a product or service.
- To reinforce customer loyalty: Companies can use promotional campaigns to reward customers for their loyalty and encourage them to continue to purchase from the company.
- To reach a new audience: Promotion can be used to reach new customers and introduce them to a product or service. This can be done through advertising, public relations, or digital channels such as social media.
Advantages of forms of promotion
Promotion is an essential element of marketing used to inform customers of the value of a product or service and to influence them to purchase. There are multiple methods of promotion that are used by companies to advertise and differentiate their products or services from other offerings in the marketplace. Here are a few advantages of these forms of promotion:
- Advertising allows companies to reach large audiences, can reach customers at every stage of their buying decision process, and can be used to create a positive brand image.
- Personal selling allows companies to facilitate a direct dialogue with potential customers, offers more flexibility than some other forms of promotion, and allows for more accurate targeting of potential customers.
- Sales promotions can be used to increase customer loyalty, create a sense of urgency to purchase, and can help to increase sales in the short-term.
- Public relations can help to create a positive public image of a company, can help to foster relationships with stakeholders, and can be used to manage crises.
- Direct marketing allows companies to target specific customer segments and track the effectiveness of their campaigns, can be used to increase customer loyalty and retention, and can be used to build relationships with customers.
- Digital channels such as social media and company websites give companies the ability to reach a larger audience, can help to create a sense of community and engagement, and can be used to measure the effectiveness of campaigns.
Limitations of forms of promotion
Promotion is an essential tool used to create awareness of a product, service or organization. However, there are limitations to the forms of promotion that a company can use. These include:
- Advertising – Advertising is expensive, and a company must be able to measure the return on their investment in order to be confident that it is working. Additionally, it can be difficult to target specific audiences with advertising.
- Personal selling – Personal selling is labor-intensive and requires a large sales force in order to be effective. Additionally, it can be difficult to establish trust and credibility with customers.
- Sales promotions – Sales promotions often lead to short-term gains, but can be difficult to sustain over the long term. Additionally, they can lead to customers becoming accustomed to discounts, which can reduce the effectiveness of future promotions.
- Public relations – Public relations campaigns can be difficult to measure, and it can be difficult to control the message that is being communicated.
- Direct marketing – Direct marketing can be expensive and intrusive, and it can be difficult to measure the effectiveness of the campaigns.
- Digital channels – Digital channels can be difficult to monitor and measure, and they can be vulnerable to abuse by malicious actors. Additionally, they require a large investment in technology and expertise in order to be effective.
- Pergamit, M. R., & Veum, J. R. (1999). What is a Promotion?. ILR Review, 52(4), 581-601.
- Rowley, J. (1998). Promotion and marketing communications in the information marketplace. Library review.
- Rosenthal, M. B., Berndt, E. R., Donohue, J. M., Frank, R. G., & Epstein, A. M. (2002). Promotion of prescription drugs to consumers. New England Journal of Medicine, 346(7), 498-505.