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Types of promotion (Advertising (Advertising is a paid, non personal…
Types of promotion
Advertising
Advertising is a paid, non personal message.Print and electronic mass media are used to communicate a message about a product.
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. An example of this is all the ads you seen on T.v.
Personal Selling
Personal selling involves the activities of a sales representative directed at a customer in an attempt to make a sale
Advantages of personal selling is that it is much more persuasive for the consumer as there is someone telling you all about the product. An example of this is a real estate agent trying to sell you a house, showing you all the features of it.
Product endorsement
Product endorsement occurs when celebrities, who act as opinion leaders, express their support for a product.
The main advantage of product endorsement is that you can use someone who is regarded highly of to wear your product, therefore spreading a good image of your brand/product. An example of this is George clooney and nespresso and how he advertises for them.
Publicity
Publicity is any free news story about a business’s products. It differs from advertising in that it is free and its timing is not controlled by the business.
Advantages of publicity is that it puts your company in the spotlight, and it can attract new consumers. An example of this is if a company was on the news or in the papers.
Sponsorship
Sponsorship provides an opportunity for a business to directly promote its products towards a select group of consumers who have a common interest
The main advantage of sponsorship is that is a good way to spread awareness for your product. An example of sponsorship is coke and the olympic games.
Sales Promotion
A business may decide to offer a direct inducement to customers in an attempt to sell more of its product.
Advantages of sales promotions is that it will attract many consumers who want to get a good deal for a product. An example of this is when a store has a sale.
Relationship marketing
Customers want more individualised treatment. In response, businesses are looking for ways to develop long-term relationships with individual customers, a process known as relationship marketing.
The main advantage of Relationship marketing is being able to create a strong bond between you and your customer. In turn this makes your customer want to keep doing business with you. An example of this is loyalty programs as it makes you want to keep shopping with that company