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Promotion is one of the 4 P’s in the Marketing mix. The 4 P’s (Price, Product, Place and Promotion) must all be effectively covered in order to successfully promote a product. Essentially, promotion encompasses any activity that is performed to inform people about a specific product or service. Given the breadth of the term and its various applications in marketing, there are numerous aspects to consider. It is therefore necessary to explore each individual aspect of promotion in detail.
Below, we will delve into the various aspects of promotion or the tools that marketers utilize to execute effective promotion:
1. Advertising:
Advertising is a vital component of the promotional mix. It involves disseminating information about a business’ products and services. Advertising also entails employing strategies related to advert placement and frequency. Various channels, such as newspaper ads, radio ads, television ads, and internet ads, are used for advertising. Surprisingly, advertising dates back to the 19th century and continues to play a significant role today.
2. Personal Selling:
Personal selling entails delivering customized, individually tailored messages to potential prospects by sellers. These messages can be conveyed through face-to-face communication, phone calls, or personal correspondence. Unlike advertising, which employs uniform messages to appeal to the masses, personal selling allows for message alteration based on individual behavior. If a message is ineffective, it can be modified. However, personal selling is time-consuming and thus only suitable for products targeting niche markets.
3. Sales Promotion:
Sales promotion comprises initiatives taken by companies to boost product sales or encourage customers to try their products by offering free samples or trials. As different businesses employ unique sales promotion techniques, it is challenging to identify universal methods. However, popular techniques include buy one get one free offers and discount coupons.
4. Publicity:
Publicity involves using tactics to influence or manage public perception of specific products or services. Event sponsorship is a typical example of publicity. By sponsoring various events, businesses can enhance their visibility. This form of promotion is generally cost-effective and helps build credibility. Additionally, sponsoring large-scale events like football games can provide exposure to a vast audience.
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