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Types of Promotion (Personal selling (Personal selling occurs when a sales…
Types of Promotion
Personal selling
Personal selling occurs when a sales representative meets with a potential client for the purpose of transacting a sale. Many sales representatives rely on a sequential sales process that typically includes nine steps.
The advantages of Personal selling is two-way communication, having personal attention, Immediate feedback and Individual services.
Personal selling is where businesses use people (the "sales force") to sell the product after meeting face-to-face with the customer.
Advertising
The main advantages 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.
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Types of Advertising
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mass marketing - television, radio, newspapers and magazines
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Sponsorship
A sponsor can enjoy a wide range of benefits from a carefully selected sponsorship, which can: raise brand awareness and create preference. create positive PR and raise awareness of the organisation as a whole.
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Sponsoring something is the act of supporting an event, activity, person, or organisation financially or through the provision of products or services.
Relationship marketing
Is a strategy designed to foster customer loyalty, interaction and long-term engagement.
The advantages of Relationship marketing is the consistent customer experience, customer feedback, customer Profitability, Customer Advocates and Innovations.
The ultimate aim is to create customer loyalty by meeting the needs of a customers on an individual basis, thereby keeping customers coming back.
Sales Promotion
Sales promotion is one of the elements of the promotional mix. Sales promotion uses both media and non-media marketing communications for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability.
The advantages of Sales Promotion is hat they induce customer traffic and sales by offering a lower price and better value proposition. Taking 25 percent off the price of a good without altering its benefits increases the customer's perception of value.
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Publicity
publicity often carries the authority of an independent voice. Proper use of publicity can result in higher sales, as your company and products are exposed to a wider net of customers.
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Publicity is the movement of information to the general public from the media. The subjects of publicity includes people, goods and services, organisations, and works of art or entertainment
Product Endorsment
The advantages of Product Endorsement is the ability to Build brand equity, meaning brand power is acquired through the name recognition, which allows the company to achieve larger sales and profits.
A written or public statement by a business or professional group, 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.