All About the Idea of Promotion

Promotion is the process where marketers inform, persuade, and remind B2B users along with customers to influence them and change their opinion of the brand or product in a positive way. The majority of brands use some type of promotion that adds to their sales or market share.

However, different brands have different goals and objectives with different promotional strategies. When we talk about a profit-oriented brand or company, their primary objective is to make the customer buy products or services that they are promoting.

Promotional Goals

• Creating awareness
• Making people try new products and services
• Providing relevant information
• Making loyal customers stay
• Increasing the usage of the product or service, etc.

Functions of Promotion

1. Creating awareness: Many companies fail and go out of business because they do not maintain their market presence due to a lack of spreading awareness about them or their products. Therefore, it is essential for companies to spread awareness in customers’ minds.
2. Getting consumers to try products: Promotion is primarily used to make people buy and use products and to make old buyers buy more. In case of a new launch of a product, the company also provides free samples to customers so that they can try the product and spread the word. Various companies use coupons and trial packages of their product as an introductory offer so that customers get attracted to it.
3. Providing information: Informative promotion is usually very common in the initial stages of the product life cycle of a particular product or service. N informative promotion makes people aware of how to use the product or tells them the product or service’s benefits. It also tells about the ingredients used in the product. All this information attracts the customer towards the product or the service and results in increased sales of the product or service.
4. Keeping loyal customers: Promotion also plays an important role when it comes to maintaining the customer base for a product. Moreover, it helps to make the customer stay with the brand and believe that the product is better than other products in the competition.
5. Increasing the amount and frequency of usage: Promotion is also done to make people use a product repeatedly so that they love it and also suggest it to others. There are various brands that remind customers to use their product again so that they do not miss out on using their product or service.
6. Identifying target customers: Promotion also helps to identify target customers by analysing information received from the market. It assists them in deciding where to place the product so that it can attain maximum reach and sales from the end consumers. It helps to find those customers who are truly interested in their product or service.
7. Teaching the customer: For service products, it is essential for the marketer to teach customers the reasons to buy certain services. Moreover, service providers perform the service by working with customers.

Difference Between Promotion & Marketing

Marketing: It is the process where the product is brought to the audience. It consists of analysing the need of the consumers as well as the competitor’s products. Moreover, creating, pricing, testing, and distributing a product is implied by this process.

Promotion: It is one of the 4 Ps of the marketing process. Furthermore, elements of the promotion mix are related to strategies as well as techniques that help a product communicate with the public. The aim of promotions is to present the product, enhance demand, as well as differentiate it from competitors. Therefore, promotion is one of the most basic components of the marketing process.

Types of Promotional Marketing

Advertising

It is a very essential part of marketing because it makes customers aware of the presence of the product in the market and also attracts customers. It also works as an informing agent for the brand.

Personal selling

This 1-to-1 interaction with potential consumers is the type of promotion that costs the highest, however, it is also the most effective type of promotion if done properly.

Direct marketing

It is usually performed on social media through email or on websites. SMS marketing is also an option for this type of marketing. Unlike advertising, direct marketing tries to make relationships with the audience that has had your product or service on their radars before.

Sales promotions

When a business promotes its products or services well, it results in better sales as people are motivated to purchase. Moreover, offers like free shipping, cashback, discounts, freebies tend to help.

Public relations

When a company has a good PR (public relations) promotional strategy, it helps build a positive and attractive image of the brand as it leverages public relations opportunities and is as significant as sales promotions plus advertising.

Conclusion

Therefore, we see that the idea of promotion study material concludes that elements of the promotion mix help in making a product accessible for customers in the market. It helps to spread awareness about the product or service among consumers or end-users. Moreover, it is one of the 4 Ps of the marketing process. Moreover, promotion and marketing are two very different concepts, thus, one must not confuse them. Finally, there are various types of promotional marketing that include advertising, sales promotions, public relations, etc.