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Forms of Promotion (Advertising (Advertising may take many forms, from…
Forms of Promotion
Advertising
Advertising may take many forms, from buying time on national television, to inexpensive leaflets or posters, to internet banner advertisements
Advertising informs, persuades and reminds.
The main advantage of advertising is that it provides businesses with the flexibility to reach an extremely large audience or to focus on a small, distinct segment of the population.
Advertising is a paid, non-personal message. Print and electronic mass media are used to communicate a message about a product. Because of the enormous number of products available, advertising is an important promotion strategy for business. A successful advertising campaign can result in increased sales and profit for a business.
Personal Selling
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Because of its one-on-one nature, personal selling can be much more persuasive than advertising.
Personal selling involves the activities of a sales representative directed at a customer in an attempt to make a sale. For example, a real estate agent uses personal selling when he or she shows a house and tries to persuade the potential home owner to purchase it.
By listening to the customer’s needs, personal selling can be a highly effective technique.
Product Endorsement
A written or public statement by a celebrity, business or professional group extolling the virtues of a product and recommending the use of the product to the public.
A product endorsement from an authoritative figure is a key element in business advertising and marketing campaigns.
Product endorsement occurs when celebrities, who act as opinion leaders, express their support for a product. These promotion strategies help improve the customer image of a product or brand.
Influences audience with a figure they either look up to or value. Appeals to the audience of the figure.
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Sponsorship
Sponsorship provides an opportunity for a business to directly promote its products towards a select group of consumers who have a common interest.
Sponsorship advertising is a type of advertising where a company pays to be associated with a specific event.
Nowadays, whenever you attend a sports match, rock concert or art exhibition you will be exposed to sponsorship and product endorsement.
In fact, sponsorship advertising is very prevalent with charitable events. Besides from charitable events, companies may sponsor local sporting teams, sports tournaments, fairs, and other community events.
Sales Promotion
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A business may decide to offer a direct inducement to customers in an attempt to sell more of its product. This type of promotion is referred to as sales promotion
Examples: Coupons, Loyalty reward programs, Premiums, Refunds, Samples
Relationship Marketing
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businesses are looking for ways to develop long-term relationships with individual customers, a process known as relationship marketing.
The ultimate aim is to create customer loyalty by meeting the needs of customers on an individual basis, thereby keeping customers coming back.
. It is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication.