Friday, November 11, 2011

Importance of Promotion


Many people consider selling and marketing to be synonymous terms, when, actually, selling is only one of the many components of marketing. We shall treat selling and promotion as synonymous terms, although promotion is preferred.
For many people, selling suggests only the transfer of title or only the activities of sales people and does not include advertising or other methods of stimulating demand. In our definition, promotion includes advertising, personal selling, and all other selling tools. Together, they are basic factors in the marketing mix.

The two most widely used methods of promotion are personal selling and advertising. These two types of methods are commonly used by businesses and companies for its effectiveness. It is being proven by studies and surveys and it didn't fade away. This becomes more popular and people are being innovative in their ways of advertising.
Listed below is the other forms of promotion:
1. Sales promotion, which is designed to supplement and coordinate personal selling and advertising efforts. Sales promotion includes such activities as setting up store displays, holding trade shows, and distributing samples, premiums, or "cents-off" coupons.
2. Publicity, which is a nonpersonal form of demand stimulation and is not paid for by the person or organization benefiting from it. Typically, publicity takes the form of a favorable news presentations-a "plug" - for a product, service, or organization. The plug is made in print such as promotional products, on radio or television, or in some form of public address.
3. Public relations, which is a planned effort by an organization to influence some group's attitude or opinion toward the organization. The target market of public relation effort may be any given "public" such as customers, a government agency, or people living near the promoting organization.
In addition, there is a group of marketing strategies that are in part promotional. Such strategies as product differentiation, market segmentation, trading up or trading down, and branding.
One of the most common practice is the giving away of promotional products to valued customers and prospect clients. Promotional products will serve as your advertising campaign to reach out your customers. With promotional product, you can imprint your logo, message, brand name or business name in it for you to be identified. It is important to stay visible to the public even if your company is already established because being in people's heart (not only mind) will give you an advantage in the competition.

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