The promotion is an important component in the corporate marketing mix. This can be regarded as a tool which is used by small as well as large businesses in order to persuade, inform and remind the potential customers about the products and services the business have to offer for them. If there is no business promotion, the organizations will not gain a substantial growth and it will be stagnant because the brand of the business does not have a good visibility in the market.
Now let’s focus on the significance of promotion. Promotion will give the opportunity for businesses to get to the customers by using various forms of media, strategies as well as techniques in order to grab their attention. By promotions, it will deliver a brand marketing message to the TV screens and radios of the consumers, in the shops when they go shopping, in magazine, online and on billboards.
When focusing on the promotion categories, it can be divided into four. They are advertising, public relations, sales promotion and personal selling. The advertising promotions will get displayed on magazines, internet, commercials and banner advertisements. The sales promotions consist of trade show attending, starting customer loyalty programs and holding contests. And public relations activities are everything related to posting about products in blogs, articles, magazines and writing as well as the distribution of press releases. When comes to the personal selling it get done face to face like by using phones and internet solutions etc.
When focusing on the strategies of promotions. There are two which are pull and push strategies. The pull strategy is on promoting a product in a way that it can encourage customers to respond by purchasing. The examples are referrals, coupons and customer loyalty programs. The push strategy is about taking a product to the customer to purchase directly. The examples are promotions at trade shows, point of purchase display, packaging designs etc.
Now let’s get to know about the benefits of promotions. If you promote your business, the customers will be informed about the new products of you and they will be reminded of the products which exist. By promotions, the organizations will get a support to introduce new uses of the existing products so that they will be capable in gaining new market segment. By using promotions, the companies will get qualitative and quantitative data to use in order to plan the future campaigns for targeting the suitable customers. By using the customer opinions in product review sites it will be useful to measure the number of people who will click on the advertisements to get to know the effective promotional results.
There are considerations which the marketers should face in the marketing plans. Let’s see those. The business must use media which is appropriate in order to target consumers. By using social media and online marketing forms and also TV, radio and print you can promote the business. The business must determine where the target market will get a higher amount of information including referrals and product reviews.