Welcome to LearnMarketing.net
The Marketing Mix
Promotion In Detail (Continued)
The aim of sales promotion is to increase short term sales and increase in-store or web traffic. The tactics used for this include loyalty cards, coupons, price promotions e.g. BOGOF, point of sales, packaging promotion or web coupons.
Managing public relations is very important for the organisation. Image in marketing is everything. Having a good image helps the organisation develops the organisation develop a relationship of trust with their customers and target audience. Being seen as a reputable organisation that can meet high customer and media expectations is invaluable. Public relations activities include press releases, company literature, annual reports, involvement in charity and local community events which will capture media attention,a website and social media activity.
Sponsorship is about providing money for an event, in return for the product and the firm's branding being on display at the event. It may also include the firm's name being mentioned every time the event is mentioned. For example the London Olympics in 2012 were sponsored by host of companies including Visa, Sony and Coca- Cola. Sponsorship helps the company improve its image and public relations within the market. It also continuously reminds the people at the event or those viewing event information about the firm sponsoring the event. Often firms will sponsor a person or event that mirrors the image the firm is attempting to create. For example Andy Murray has been sponsored by a number of sports clothing firms and others including Adidas, Standard Life and the upmarket watchmaker Rado.
Viral Marketing is marketing through consumers telling others about your product through the internet and word of mouth. It is called viral marketing because information about your product and brand spreads quickly between people like a highly contagious virus. There are many examples of viral marketing including the film "The Blair Witch Project" and the story behind Hotmail (now called Outlook) Microsoft's free e-mail programme.
As we have discussed a great product or service will be unsuccessful unless you tell people about it. There are many ways to promote your product, the most effective way will be the one that suits your target audience and budget.
However product promotion is only part of the story, you will also need to think about your media and message strategy. An effective message strategy will convey product benefits to your target audience and it will position your product where you would like it to be positioned in the market. Whilst media strategy is about the media you will use to send out your promotional message. Finally will you use above, below or through the line advertising for your promotional message?
Click To View Our YouTube Video About Promotion Strategies