Promote3791

Promoting a new product requires a vast amount of research of the actual market and a great sum of money. Therefore, promotional tools are limited by the amount of money the company is willing to spend in this sector. A company can promote its new product through advertisements, sales promotion, public relations, and personal selling.

Advertisements, aimed to inform and motivate consumers, range from word-to-mouth advertising to sandwich–board men. This method has the ability to reach a vast amount of people, but if used in a loose way, it will become counterproductive. Moreover, this form of promotion is less credible and more expensive that others, like publicity.

Promoting a product through sales promotions implies giving customers and potential customers, offers like free samples or price reductions. The advantages of sales promotion are limited; they attract customers. On the contrary, this may attract consumers only interested in the discounts. Also, this method is temporary and is usually launch at the initial state of a product, where it is least beneficial.

Public relations’ promoting technique consists of creating a benevolent image for the company, which will help attract and maintain customers. This promoting system is very advantageous since it gives publicity to the company. Publicity, unlike other forms of promotion, is free and more credible to customers. The downside to public relations is that their goal is to maintain the good image of the company and its products.

Another promotion technique is personal selling, which consists on selling your product directly to the consumer. With this system, the company will be closer to the customers knowing more about the products they demand. The disadvantage of this method is that it is very expensive and that it does not reach many customers.

Companies can acquire awareness for their new products through the use of advertisements, sales promotion, public relations, and personal selling. These promotional tools may be expensive, but all companies know it is a necessary cost.

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