Marketing & Promotion Methods
It is said that customers are the kings and indeed they are. The marketing departments of small and large firms alike fight tooth and nail to lure clients and increase the sales of their products & services. Marketing promotional methods are important and efficient marketing strategies of various companies. While millions of dollars are spent on advertising methods, promotional marketing methods are relatively less expensive and can be more effective.
What is Promotional Marketing?
Promotional marketing is a business tool that is designed to pull clients to buy the products and services of a company. Generally, promotional marketing is carried out by companies to launch their products or attract more potential clients. Before devising any strategy for promotional marketing, firms must ensure that they allocate a budget to the promotional marketing and set a target that gives them maximum return on the invested money.
There are basically two promotion strategies; the push strategy and the pull strategy. According to the push strategy, the marketers give generous discounts and benefits to the customers, so that, the sales can be increased drastically. One of the most successful strategies, the method of giving discounts is often successful for most of the firms. In the push strategy, main focus is on reducing costs of the advertising. The other strategy, the pull strategy minimizes the use of different channels and the major focus is on advertising the service. It's goal is to create a potential market for the services of the firm.
Marketing Promotion Methods #1: Advertising
Advertising is an expensive method of promotional marketing, wherein, the products are made to reach a large number of people. For example, by using electronic media, TV, radio, press and/or billboards, advertisers target the audience and try to create an impact on potential clients.
Marketing Promotion Methods #2: Personal Selling
One of the oldest ways of direct marketing promotion is to sell the products and services by direct interaction between the seller and buyer. It is believed to be the most difficult form of marketing, as it requires skills of persuasion and excellent communication skills. .
Marketing Promotion Methods #3: Contests
One of the effective, popular and most preferred form of promotional methods is to arrange certain contests for the customers. We all will agree to the fact that winning surprise prizes in a shopping mall or fashion store is simply exciting. One of the most attractive marketing strategies, organizing contests among the clients is a brilliant way to promote.
Marketing Promotion Methods #4: Pamphlets
In the quest to attract more clients, companies distribute pamphlets about the products. The customers are given basic information about the newly launched products and services. Simple enough.
Marketing Promotion Methods #5: Free Samples
The idea of freely distributing products or services, sounds weird and crazy for any company, however, marketing firms have gained substantial promotion through the idea of free samples. While, it is not logical to just distribute your services, you can devise a strategy, so that, the idea of free samples doesn't incur losses for your firm.
While evaluating different methods of promotion in marketing, one should realize these strategies are not the only formulas or recipes for the successful launch and eventually high sales of your service. These strategies are effective and are just some of the marketing promotion methods that firms adopt to increase their sales. At the end, however, it is the customer who is the king and after having done all you can, the buying decision is theirs.
By Kundan Pandey
Photography by Masta