Promotion is one of the 4 P’s that comprise the marketing mix. This mix allows businesses to maximise sales and further develop profit. Promotion is a vital part of the success of a business. With the advent of social media, it has become even easier to promote a product/business. If a product is are therefore unlikely to buy it. This could have catastrophic consequences on a business, especially small ones that do not have the financial resources to continue trading after a big loss. Therefore, it is vital that promotions are kept up to date; they should be constantly evolving to fit the business dynamic. Methods of promotion are important in gaining public awareness and possibly increasing ...view middle of the document...
‘It does exactly what it says on the till’. Gifts are often used when marketing products to children; many children’s magazines have free gifts in order to draw the child’s attention to the product. Joe may choose to include extras when selling computers; he may decide to give away a free mouse mat when a particular computer is sold.
Competitions are used for a variety of reasons. Many different businesses use them in order to promote and advertise their own business and that of the businesses they are in partnership in/selling products for. Competitions raise brand awareness and as a result, can increase sales. Competitions are good for companies that can afford to sell free items (for they would be able to level the losses that come as a result of selling free items.
Free samples are also used in a wide range of ways. Free samples are often given away in supermarkets in the way of free cookies or a trial of a new brand of crisps in order to raise awareness of the product.
Direct marketing is a way for businesses to communicate directly with the consumer. While for many businesses, direct marketing is a good way of trying to market products directly to the consumer, it is often found annoying by potential customers.
In today’s dynamic business world, public relations are the key to a successful business. The customer’s word can make or break a business. Therefore, it is important that public relations are of a high standard. As the customer is the most important person a business targets, it is important to keep them happy. If they are not happy, they will stop buying the product. Customer service is an example of public relations. Good customer service, such as free telephone lines are often utilised.
Advertising is without a doubt the most important promotional strategy. The success of a business ultimately depends on how much revenue is gained. Without advertisements, business will find it harder to sell products for they do not have a customer base. A company must consider various factors when running an advertisement campaign. The cost, target market, placement of adverts and the frequency of adverts can all determine whether an advertising campaign is successful or not.
As part of my research, I studied many different business’ websites in order to help me find out what strategies were being used by companies in the same sector as Joe’s. One company, The Phone Base, offered many different promotions in an attempt to engage customers. They offered free services to first-time customers; walk in repairs and a recycling service. Social media was also an important aspect of their promotion, with links to various sites being placed all over the website to try and encourage interaction with customers. I believe this is a great way of increasing customer support and developing healthy customer relations.
Another company, Metatechs,...