As a new or established business, promotion is part of the four Ps of marketing. All businesses need to motivate people to buy their products or services (Nickels, McHugh, McHugh, 2010). The traditional promotion mix is advertising, personal selling, sales promotion and public relations. Marketing and promotion go hand in hand. In order to market your business, you could rely on window signage and word of mouth, but new businesses need to develop marketing strategies to get the word of mouth going. We are going to focus on some of the most popular forms of marketing or advertising, including the emergence of the usage of the internet to promote your business.
Advertising is a paid medium in which organizations and individuals are
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The first form we will examine is radio advertising. Typically, radio has a low cost when compared with the number of people reached. Radio can target specific audiences in different times during the day. Surveys are taken twice a year in this market and advertising on a radio is based upon the results. The surveys are further broken down by times of day, days of the week and overall rating. Some of the advantages of radio advertising is there is information readily available for you to determine what audience you want to target. Using the information from the Arbitron ratings, radio stations can charge according to the times of day they have the most listenership. Advertisers typically will advertise on the stations with the highest ratings and the audience they target. This medium is very good for local marketing. Costs for radio advertising can vary, depending on whether you are buying one ad to run for a week or two or if you are buying advertising for the entire year. Radio stations will put together a package for your company depending on the number of ads you will buy and offer incentives and discounts for bulk buys. Radio ranks second to print for local advertising (Reid, King, Martin & Soh, 2005).
Some of the disadvantages of radio advertising is there is no visual to associate with the product. In
It seems ambiguous whether the Kindle Fire can be categorized as a tablet or e-reader. Nowadays, these two terms are looking and performing quite similarly thus making it difficult to tell them apart. There are some important differences between the two that will prove useful in making this distinction. The first is screen size as the Kindle Fire has a 7-ich screen, which is consistent with most other e-readers. In contrast, tablets come in a range of sizes but some of the more popular ones such as the i-Pad can have 10-iche screens. Another
The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.
A successful company knows how to efficiently publicise its operation as well as its products to customers. Promotion consists of branding, advertising, PR, corporate identity, social media outreach, sales management, special offers and exhibitions. Promotion must attract customers ' attention, be interesting, include a coherent and appropriate message and show customers a reason why they should select its product rather than anyone else in the market.
bar there is a wide range of beers and real ales as well as having bar
1. What is a blue ocean strategy? What is a red ocean strategy? Explain these from the perspective of company, competition, costs, and markets.
The main aim of a promotion is to persuade, inform and make people more aware of a company’s brand, as well as improving the overall sales figures. Advertising is the most widely used form of promotion, and can be through the media of TV, radio, journals, cinema or outdoors (billboards, posters). The specific sections of society being targeted will affect the types of media chosen, as will the cost. If you were a toy manufacturer, you might want an advertising spot during children 's TV. If you ran a local restaurant, you might choose a local paper or radio. A small or local business would not usually advertise on TV, because it is very expensive. Sales promotion is designed to encourage new and repeat sales. Loyalty cards, free gifts, competitions and voucher schemes are the most popular. Companies use sponsorship and public relations to improve their image, notably through financing sports, the arts and public information services.
This means that the potential client is very attentive when listening to the radio or watching TV, and when reading a newspaper or magazine, which is also another advertising tool that is very powerful. During this time all the attention is on a show and when an advertisement runs, the same attention is maintained hence successful receipt of the message. Lastly, advertising through media gives one an opportunity to be creative and give his or her business personality and an appeal that will draw customers to the business and maintain those that are already there.
4. Promotion- Promotion refers to the act of communicating the benefits and value of your product to consumers. It then involves persuading general consumers to become customers of your business using methods such as
Developing innovative products without dedicated efforts to provide customers with information on their existence and functions can be considered a futile endeavor, as far as product visibility is concerned. When the product is not visible, the probability of being known by potential customers is low. This leads to poor sales and consequently low profitability. On the other hand, promotion is not always the most important aspect. Each of the 7 Ps in the marketing mix plays an imperative role in enhancing company performance and profitability. In this regard, I partly agree with the statement that promotion is the most important part of the marketing mix.
In business, it is important to use various and innovative promotional strategies to expand the demand of your product and to earn more consumers. It is one of the main things a business or a company must do to keep on working. There are 3 different ways to promote a product: to show information to
Content marketing is essential for businesses in the world because it helps them to plan and prepare for cost-effective and reliable sources of numerous new leads and website traffic. However, whether you have been using content marketing strategies for decades or you are a new person with content marketing you need to improve your plan. Everyday people create and publish more content. Therefore, there is stiff competition which every business is trying to cope up with to succeed in content marketing
Moreover, according to the article “Understanding the Basics of Traditional Advertising” (Rae, L. 2013), understanding your audience and providing them with memorable visual impacts would leave them with an imprint that would last even after the ad had been aired. Furthermore, according to the article “Traditional Advertising Media Pros and Cons Tips for Small Business” (Angela, D. (n.d.)), television ads target the clients they exactly need to since they can specify the date and time the ad would air and thus would know the audience expected to see it. Advertising through a radio is the second media that most people seek. Unlike television, radio advertising is low cast since it does not need any visual impact. According to the article “Understanding the Basics of Traditional Advertising” (Rae, L. 2013), Radio is often called “theater of the mind” since the listener uses his imagination since
When an advertiser places one of their advertisements into a newspaper, they want their advertisement to appeal to the readers of that particular magazine. They could have the exact same message, but considering their audience, they could make it more effective if they use a different strategy to market their product. This is very common for advertising strategies to change when the content of the magazine changes. You can relate the way that the magazine producers choose their ads by when Steve Craig says that " program producers and schedulers must consider the target audience needs of their clients" (162). The types of advertisements are driven by the content of the magazine. Sports Illustrated provides a
Promotion is the direct way in which an organisation attempts to communicate with various target audience. Promotion consists of five main elements: Advertising, Personal selling, sales promotion, Public Relations and Direct Marketing.
Promotion is an aspect of the marketing mix that has great importance. In order for our product to be successful, the promotion we use will be very vital. This is because of the fact that the method of promotion we use for the product can help to differentiate our product from other products which makes it unique and outstanding amongst other brands. Moreover, using the right promotion can be used as a way to persuade consumers of our product that they made the right choice.