Promotion 6666

Promotion is known as one of the ‘4P's which form part of the marketing mix (product, price, place and promotion). “P” of promotion is the action of offering information of a determined product of a company. Promotion has four major promotional tools

1. Advertising: whereby potential costumers get to know the product promoted it´s objective is to incentive consumption , reach a target market and create a positive image of the product among potencial consumers. Advertising might be ; read, viewed, or heard. It plays with the advantage of being a very attractive and has a rapid consumer response however it is in fact a very costly tool, therefore it involves a high opportunity cost when deciding which product to advertise.

2. Sales promotion: is a strategy followed by companies in order to promote sales of a new product or an existing product needing to increase sales. The tactics used are the following: gifts, coupons, free samples, discounts, etc. This helps the company when launching a new product, generating an initial awarness ,it as well attracts brand-switchers with the help of special offers and disccount trying to prolong the maturity stage . On the other hand, this tactic can only be temporary, as it can damage the brand name, lowers your prices and raises doubts about the product’s quality.

3. Personal selling: is the most effective way to get closer to costumers by selling the product in the most directly form , it is a very efficient tool when persuading potencial customers, there is no chance for a misinterpretation , it benefits of expertise advice ,it is highly interactive, creates loyalty and communication flows easier and faster between customer and firm. In the other hand personal selling is not suitable for all products such as those with high demand ,moreover it is very expensive.

4. Public relations: is known as the information of a company shared with the public. It concerns with maintaining, improving or protecting the image of a company or product; it is relatively cheap and reaches many people. The disadvantage is that the message send must be well coordinated, it needs to be clear in order to avoid doubts about the company’s image.

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