Different Ways Of Promoting A Product – Promotion is the art and science of communicating and promoting a product. The “promotion mix” is the set of media activities and channels that marketers use to communicate and promote a product.
A marketing manager at one company might decide to focus on social media, while a marketing manager at another company might decide to focus the company’s efforts on television advertising. A third marketing manager could use both methods. Why do companies select different types of media for what may be perceived as similar messages? As Figure 1 shows, a number of factors affect the choice of promotion mix elements.
Different Ways Of Promoting A Product
For many companies, the budget available to market a product determines which elements of the promotional mix are used. Budget affects a promotion’s reach (the number of people exposed to the message) and frequency (how often people are exposed). For example, many smaller companies don’t have the money to create and run commercials on primetime television or during the Super Bowl. As a result, they don’t get the exposure they need to be successful. Other companies, such as McDonald’s, can come up with creative ways to reach different target markets. For example, McDonald’s targeted college students with a special promotion that filmed live a lecture at Boston University.
Pdf) Marketing And Promotion Methods Of Different Products Taking Instagram As An Example
The stage in the product life cycle also affects the type and amount of promotion used. Products in the introductory stages usually require much more promotional dollars to create market awareness. Consumers and businesses won’t buy a product if they don’t know about it. More communication is needed early in the product life cycle to increase awareness and testing.
Different products also require different types of promotion. Highly technical products and very expensive (high involvement) products often require professional sales so that the customer understands how the product works and its various features. On the contrary, they often rely on advertising to sell convenience goods and routinely purchased products (low involvement) because customers are familiar with the products and spend little time making purchase decisions.
To select the best methods of reaching different target markets, organizations need to know what media types different destinations use, how often they purchase, where they purchase, and their willingness to buy, characteristics and age. , gender and lifestyle. Some people are receptive and want to try new things as soon as they become available, and other groups wait until the products have been on the market for a while. Some consumers may not have the money to buy different products, even if they need the product later. For example, are most freshmen ready to buy new cars?
We have already explained that different types of consumers prefer different types of media. In terms of target markets, college-age students may prefer online, mobile, mobile and social media marketing more than older consumers. Media preferences have been extensively researched by academics, marketing research firms and companies to learn how consumers want to be reached.
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Regulations may affect the type of promotion used. For example, laws in the United States prohibit the promotion of tobacco products on television. In some Asian countries, controversial products such as alcohol cannot be advertised during prime time television. The hope is that by advertising late at night, kids won’t see the ads. The strength of the economy can also have an impact. In a weak economy, some organizations use more sales promotions, such as coupons, to attract consumers to their stores. The risk is that consumers will come to expect coupons and not want to buy items without a special promotion.
Organizations should also plan their promotions based on media availability. Top-rated TV shows and Super Bowl ad space, for example, often sell out quickly. Magazines tend to have a longer lead time, so companies need to plan well in advance for some magazines. Conversely, due to the number of radio stations and the nature of the medium, organizations can often place radio ads on the same day they want them to air. Social media and online media can be instant, but users need to be careful about what they post and their privacy. Uncontrollable events can also affect a company’s promotions. For example, when a disaster occurs, television stations often run commercials to make way for continuous news coverage. If there is a crisis or disaster and your company is in the middle of a promotion that is TV advertising, you probably have to scramble to reach consumers through another means.
The purpose of the communication process is to effectively reach your target consumers and convey the desired message. Achieving this is easier said than done.
Do you use TiVo or a digital video recorder (DVR) to record movies or TV shows so you can watch them whenever you want without commercials on TV? Have you ever used your remote control to skip commercials or change channels to watch different shows? Think about what television programs you choose to watch, what magazines you read, what radio stations you select. The perceptual process is how a person decides what to pay attention to and how to interpret and remember different things, including information from advertising. Pick a magazine, a television show, or even an optional class at school, select what you’re exposed to, and decide what grabs your attention. However, your selection does not ensure that you will pay attention or remember or correctly interpret what you see or hear.
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Think about what you do when you watch TV, when you study or when you listen to the radio. It’s a hot day in July and you fancy a day at the beach. Your friends brought a radio and the volume is turned up so you can hear all the music. If you listen to music or talk to a friend at the beach while listening to the radio, do you hear or pay attention to commercials? Do you remember what products were advertised? If you’re with a friend and you hear someone say your name, do you pay more attention to the person talking about you than to your friend?
The same thing happens when you watch a television show, read a magazine, or study for a test. The phone rings or your friends show up and your attention turns to them. With so many different types of distractions and technology (like recording devices), imagine how difficult it is for an advertiser to get you to pay attention, much less remember your message. Remember the terms you memorized for a test the next day? Do you know your friends’ phone numbers and email addresses, or do you only find their names in your contact list? To increase retention, advertisers can repeat the same message several times in different places, but they must be careful that consumers are not so tired of the message that there is a negative effect.
The communication process illustrates how messages are sent and received, as shown in Figure 2 below. The source (or sender) encodes or translates a message in a way that is appropriate for the message channel—for example, for a print ad, TV commercial, or in-store display—and shows the benefits and value of the offer. Then the receiver (customer or consumer) decodes or interprets the message. To communicate effectively, the receiver must 1) hear the message and 2) interpret the message as the intended sender.
Feedback is the next step in effective communication. Purchasing a product provides feedback to the sender. It tells the seller that a consumer saw the information and wanted to try the product. If the consumer used coupons or promotions when purchasing a product, the advertiser knows which vehicle was used to obtain the information. Market research and warranty registration also provide feedback.
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Let’s say you’re getting ready to go home on a Friday afternoon and you hear someone mention an event coming up on Saturday. However, you haven’t heard all the details and assume the event is the next day, not the following Saturday. Since you’ve already made other plans for the next day, you don’t even think about seeing him the following Saturday. Has this ever happened? If you haven’t heard someone correctly, misread the information, or if they fail to communicate clearly, you may think a product or service offers different benefits or is easier or more difficult to use than it actually is.
Clear and relevant messages are essential for effective communication. Marketing messages that try to pack in too much information or otherwise don’t say enough leave people wondering what the point is. We tend to buy products and remember information that has some relevance to our situation or personal beliefs. If you don’t need a product or service, you may not pay attention to or remember the messages used to market. Advertisers want you to remember their brands so you think of their products and services when you need them