Advertising is one of the elements of 4P’s (product, price, development, and place) of the Marketing Analyst mix. Whenever a new product is launched in the market, or there is a relaunch of an existing product, advertising plays an important role. Every organization aims at marketing and finally selling its products to the buyers. Their main aim is to reach the buyer and inform them about their presence in the Marketing Analyst. The image of an organization also plays a vital role in the success of its product selling.
The excellent reputation of an organization in the minds of its consumers helps in increasing the sales of its products. Therefore, organizations include promotions in their marketing strategy att mobile transfer to build corporate image and hence the brand image of the product. Advertising is a marketing tool that helps in achieving this organizational objective. So, promotion can be described as the communication link between the seller and the buyer.
The primary purpose of promotion is
- To inform the consumers about the product or services offered about the organization.
- To create awareness amongst their target consumers, in terms of its product features as well as in terms of its unique selling proposition(USP)
- Increase the demand of the product or service offered by an organization by influencing, informing and persuading the purchasing decision of the target consumers
- To differentiate its product or service from its competitors as well as other existing brands.
- To inform the consumers about the various promotional schemes like discounts, offers, and other sales promotion techniques.
- Build brand image and product image. This, in turn, helps in building a model of the organization.
There are two types of promotion, above the line promotion and below the line promotion. Above the line promotion, is the one where the main objective is the promotion of the product or service in mass media. So, organizations use television, radio, newspaper, the Internet, mobile phones, etc. to reach its mass consumers. While, below the line promotion is the one where an awareness in created amongst its consumers through sales promotions, personal selling, direct mails, trade shows, public relations, sponsorship, etc.
Thus, there are several promotional methods used by organizations to promote its product or service. A few major ones used by organizations to increase its sales are –advertising, sales promotions, public relation, personal selling, direct Marketing Analyst, exhibitions, viral Marketing Analyst, etc. An organization either includes one of the promotion method or more than one promotional way in its promotion mix. This decision is governed by factors like –
Promotion budget of the organization. Every organization has its financial limitations. They have to plan and market their products under these limitations. So, depending upon their budget, organizations choose either one or more than one means of promotion to reach its target customers.
While planning and choosing for the promotion mix, organizations need to take into consideration the product life cycle stage. This is because every product stage has a different objective, and so depending upon that objective, organizations must choose the correct promotion mix.
Every promotional tool has its own set of advantages and disadvantages for different products or services. Therefore, organizations must take into consideration the nature of the product before planning the promotion mix.
All products and services offered by an organization have their potential consumers. That is, every organization targets a particular set of consumers for their product or service. So, the organization must define its promotion mix, keeping in mind its target consumers and their most preferred promotional tool.
A market consists of many similar players. That is, it has several competitors. Besides this, market situations are unpredictable and unstable. Therefore, organizations must take into account market situations while selecting its promotion mix.
Advertising is a popular and effective way of presentation and promotion of ideas, goods, or services by an identified sponsor. Advertisements can be done through radio, television, billboard, banners, newspaper, magazines, brochures, signs, motion pictures, pubg lite, etc. It has several benefits and hence is consider to one of the most preferred promotion tools.
It not only helps in promoting the product or services offered by the organization, but it also helps in reminding the consumers about the product because of its repetitive behavior. This, in turn, influences the potential consumer’s buying decision and persuades him/her to go for the purchasing of the product. Advertisements also help the product to compete in the market and reach the mass customers. Besides this,
Advertising plays various other vital roles in
- Creating awareness about the product
- Image building of the product
- Helps in generating sales lead
- It helps in building reassurance in the minds of its consumers about the product or the service.
Personal selling is another way of persuading potential consumers to purchase an excellent or service offered by the organization through oral presentation. This is one to one basis, and hence, either the organization opts for direct (face to face) oral presentation of the product or through telephones. A few examples of personal selling techniques are sales presentations, sales meetings, telemarketing, etc.
One of the most significant advantages of personal selling is that there is direct interaction with potential consumers. Hence the probability of converting those potential consumers into buyers is quite high. Besides this, one can know the customer’s response then and there itself. It thus saves time.
Sales promotion is one of the ways of stimulating market demand for a product or service. Here the organizations offer specific schemes, discounts, rebates, gifts or vouchers, etc. to increase the consumer’s need and hence its sales. However, this promotion is for a limited period
Public relations are a way of building an organization’s image in the minds of consumers. It’s essential for the organization that its potential consumers hold a good and positive image of them. It helps in building goodwill of the company and thus helps to develop trust in their relationship. It includes press releases, videos, websites, annual reports in newspapers and magazines, articles, TVs and radio presentations, seminars, etc.
Publicity is a powerful promotional tool use in building the brand name of the organization and its product. It helps to make a positive image of the organization and thus builds confidence amongst its consumers. This, in return, not only helps in selling its products, but it also helps to attract potential consumers. Publicity aims to create a positive image of its product and organization by publishing favorable stories through media, newspapers, magazines, television, radio, etc.
Viral Marketing Analyst is one of the promotional mixes where consumers give references or recommend your product or services, organization, or websites youtube com activate to their friends, colleagues, or other family members. This is done through emails, word of mouth, telephones bulletin boards, etc.