Professional Documents
Culture Documents
Unit 3 - MMC
Unit 3 - MMC
UNIT III
Product promotion does the work of introducing goods and services to customers by
telling them about features, merits and even benefits over the other competitors’
products. Marketers are easily able to differentiate their products and create a distinct
image in minds of people. In the absence of this element, business may find difficulty in
reaching their objectives. No matter how well-designed product a business is offering
with appropriate pricing and distribution system, they can’t be sold unless and until they
reach the target market. Product promotion act as a responsible factor for awakening
and stimulating people’s demand.
Discounted products: This is one of the most popular type of product promotion
strategy adopted by business enterprises. Customer always love to grab a bargaining
deal so by giving them discounted offers, they become more happy with brand.
Businesses should always ensure that discounted offers are designed properly to make
them more attractive. A bottom line should be considered and be sure not to provide
these offers too often to peoples.
Flash sale: A flash sales is a limited time deal offered to customers for buying
products. This technique of promoting products is very effective and creates a sense of
urgency among people to buy. More successful flash sales are one which lasts for a
short time and sell more than 50% of products in the first hour only. Customers are
more interested to buy and try products which are offered in such limited time deals.
Product giveaways: This is a good promotion strategy which induces more and more
peoples to try your products. Everyone enjoys in getting the free stuffs from brands.
People appreciate such gestures from company and are easily able to memorize their
products. In case, if a business can’t giveaway its products then it should think about
giving some useful branded gifts with every purchase.
Advertising can be done through print ads, radio or television ads, billboards, flyers,
commercials, internet banner ads, direct mails and so on. The advertiser has exclusive
control over what, how and when the ad will be aired or published. Moreover, the ad
will run as long as the advertiser’s budget allows.
Public Relations can be called as non-paid publicity earned by the company through its
goodwill, word of mouth, etc. The tactics used in public relations are publicity, social
media, press releases, press conferences, interviews, crisis management, featured
stories, speeches, news releases.
● Sales promotion is useful for achieving short-term sales goals to entice potential
consumers to purchase the goods.
● Disseminating details about the product to potential clients or new markets is a
crucial promotional tactic.
● Increase sales volume steadily and meet short-term sales targets.
● Create the impression that the goods are a fantastic bargain to increase
demand in the near run.
New leads are produced as a result of sales promotions. Since sales promotion
stimulates information exchange among social networks linked to your business, it can
improve the image of your goods. People interested in playing football will spread the
word if you provide training sports shoes.
Allows you to re-engage with your current audience. A user who has signed up for an
email newsletter from a brand will frequently get sales promos. It is a method of
maintaining the audience’s interest and a tight relationship with the business, which is
essential for fostering loyalty.
Increased revenue. Even if they must cut the price to do so, sales promotions aid
businesses in growing the volume of items sold. Of course, simply lowering the cost is
insufficient; customers must actually need your goods; the reduction is merely an
additional incentive.
The concept is usually associated with large corporations, but small businesses also
have a corporate image even if neither their owners nor customers think of it that way.
In the absence of active efforts, corporate image "simply happens": it is how a
company is perceived. Management, however, may actively attempt to shape the
image by communications, brand selection and promotion, use of symbols, and by
publicizing its actions. Corporations trying to shape their image are analogous to
individuals who will dress appropriately, cultivate courteous manners, and choose their
words carefully in order to come across competent, likeable, and reliable. In the
personal as in the corporate case, the image should match reality. When it does not,
the consequence will be the opposite of the one intended.
Brand image is the perception of the brand in the mind of the customer. It is an
aggregate of beliefs, ideas, and impressions that a customer holds regarding the
brand.
Every Company strives to build a strong image as it helps in fulfilling their business
motives. A strong brand image has the following advantages –
Now, it is not always necessary that an image forms out of interactions and experience
with the brand. There are times when prospective customers form an image of the
brand in their mind after reading news about the brand or after watching an influencer
review it.
This is just like with humans. When we meet a person, we assess his personality and
form a perception of him in our minds based on our interactions. Similarly, we also form
perceptions when we hear about that person from some of our friends.
Inbound calls: These are calls initiated by the customer, whether they call into the
company directly or if they set up a time for the company to call them.
Outbound calls: Also called cold calling, this is when a company calls a consumer
directly.
Email marketing
Email marketing is when a company reaches out to consumers by sending email
messages to them. Consumers can either subscribe to a company's email list or
companies can purchase a list of verified consumer emails through a mailing list
service.
● Electronic newsletters
● Promotional emails
● Advertisements
Text marketing
Text marketing is when companies contact consumers via text messages. There is
often a higher response rate with text marketing because of how often consumers use
their cell phones. There are several phone plans that companies can utilize to send
text messages to customers for $0.01 to $0.05 per text, which can be more
cost-effective.
Short message service (SMS) and back-and-forth messaging where a recipient can
respond to brief questions and provide the company information about preferences A
link to a company website where recipients can get more information or opt in to
Direct mail
Direct mail allows a company to send information about products, special offers,
services and sales to a street address via the postal service. Two benefits of direct mail
marketing include versatility, meaning they can personalize it to the consumer, and
flexibility, meaning businesses can change the amount of mail they send out.
● Letters
● Flyers
● Brochures
Direct selling
Direct selling involves a consultant selling products or services to a customer in-person
at the customer's home or workplace. For example, some businesses have employees
go door-to-door to advertise and sell subscriptions, housewares or makeup to
customers. This form of direct marketing allows companies to better establish a
personal connection with the customers and learn their preferences since there's more
face-to-face interaction.
Brochures
Brochures are advertisement papers decorated to grab customer's attention using
pictures and vivid colors, and they contain a wide array of information about a
business, like company goals, special offers or history. These can be a great way to
add artistic flair and well-organized information to a marketing campaign. And while this
is a less targeted approach, it can help companies reach a broader audience when
they want to find new consumers. It is helpful to distribute handouts at events hosting
the targeted market. For example, if you are selling a workout supplement, then you
may choose to hand brochures out at a workout competition.
● TV commercials
● Radio advertisements
● Newspapers
● Magazines
Catalogs
Catalogs are small booklets or magazines that showcase and advertise products and
services as well as the specials or new items and features. These marketing tools can
make it easy for companies to send large amounts of product information to a targeted
audience. Many companies also send catalogs to returning or expected customers so
they can buy items from the catalogs by phone, by returning a purchase envelope
included in the catalog or by going onto the company's website using the information
found in the catalog. It is common for department stores to do this so that they can
showcase their large collection of items in various areas, like housewares, clothing and
furniture.
Internet marketing
Internet marketing uses online search engines to generate traffic to a company's
website. Using the internet to market a company is often profitable, flexible and
far-reaching. Because the internet is popular worldwide, it offers a diverse audience for
advertisers. Search engine optimization (SEO) is a popular form of internet marketing
that involves generating more traffic to a company's website based on consumer's
search engine results.
Online marketing is important when it comes to being competitive and relevant within
your industry. If your business has no web or online presence, you’re missing out on
countless opportunities to reach out to your target audience.
1. Video Marketing
Video content is quickly becoming the most powerful way to reach an audience online.
Videos can be anything from education to entertainment and can help establish your
brand’s persona in just a few seconds.
2. Affiliate Marketing
Affiliate marketing involves giving a third party a reason to refer people to your product.
This often means giving them a discount code to share, or offering them a small
paycheck for every click their affiliate link gets.
3. Inbound Marketing
Inbound marketing means to use your content on your website to draw in readers, and
then convert them to buyers.
4. Referral Marketing
Referral marketing happens when a customer is happy enough to tell other people to
buy from you. Reviews are a form of referral marketing.
5. Email Marketing
Sending out emails to an invested list of buyers and interested parties is a great way to
market your products and services.
6. Pay-per-click Marketing
PPC marketing means that you pay to have your website link displayed prominently in
ad space on various Internet pages, primarily on Google or other search engines.
Every time someone clicks, you pay a small fee to the hosting website.
8 Display Marketing
Display marketing involves having a space with artwork and words, such as a banner
on another popular website. Think of it as a online billboard.
For instance, it is necessary to identify your target audience, work out a budget that
you can afford for a promotion, and decide the most efficient marketing channels for
your audience. A promotion mix is a more expanded approach towards one of five
elements of the marketing mix — Promotion. Other factors are people, product, place,
and price.
Informs subscribers. Some promotions, on Instagram for example, aim to show the
product from the best angle, and others, like SMS, emphasize the advantages of local
services. When using a promotion mix, companies define the best ways to educate
people about the products and services they provide.
Stands out from the crowd. People are bombarded with all sorts of advertising at
every turn. With a promotion mix, it is possible to stand out from the crowd without
creating chaos in your customers’ heads. Successful companies make quality prevail
over quantity, promoting their product or service at the right place and right time.
Identify the target audience. Determine your target audience and take advantage of
the promotion mix tactics. Create your customer profile to find out how to provide
people with the products they need.
Follow a five P’s rule. Five factors form promotional marketing success: what you sell
(Product), how much you want for it (Price), how you offer it (Promotion), where you
sell it (Place), and whom you sell it to (People). Work on these five P’s of marketing
and give your customers what they need at the most convenient time.
Provide people with useful information. Demonstrate the products and services you
sell. Explain what makes them so unique and why customers should choose yours and
no one else’s products. Create reviews comparing your product with competitors’
products.
Use appropriate marketing channels. Find out which channel of communication is
the most convenient for your audience. Try delivering the same message through
different channels and examine which performs best with your customers.
Rely on the right promotion mix elements. Personal selling is usually useful for only
small businesses due to its high cost and low outreach. Every business can afford to
display advertising and email marketing, though. Develop a balanced system of
communication with your audience that fits your business well.
Implement segmentation. This tool targets the audience by dividing it into smaller
groups based on similarities. With SendPulse, segmentation works with emails, SMS,
and web push notifications.
Advertising. In advertising campaigns, Nike aims to reach large target audiences. The
brand invites celebrities who represent the image of an ideal consumer. Potential
customers associate themselves with famous ones, and this motivates them to trust
the brand and communicate with it.
Personal selling. Nike’s selling takes place in their stores. Trained store personnel
assist consumers, provide details on the company’s products and stimulate visitors to
buy their products. Besides, Nike’s employees help customers find the right Nike
product and promote the company through the use of personalized services.
Sales promotion. Usually, Nike’s sales promotions include special discounts for a
targeted audience. The brand motivates their customers with the savings they can
have when they buy discounted products. After that, they create a demand for
purchasing more products using those bonuses, turning new customers into loyal
clients.
Direct marketing. Nike uses direct marketing to promote its products among sports
organizations in universities, colleges, schools. Marketers call this lead nurturing.