IIBF PPB | PROMOTION | ROLE OF PROMOTION IN MARKETING
ROLE OF PROMOTION IN MARKETING
Communication of the different elements’ properties of products and services to customers with the intern to influence them into buying is known as promotion.
It is aimed at persuading the customers so that they act in the firm’s favor. Its purpose is to bring a change in the attitude of the customers by using human psychology and developing techniques to market products and services.
When we talk about online commerce, persuasion marketing involves designing a page or a website to persuade customers to buy their products or services. Designing a web design is an acute example of a decision-making process that is not consciously controlled.
When human psychology is applied to the web design elements in the elements of the layout, typography along with using promotional messages which affect rightly on the visitors of the website and increased to follow up pre-planned pathways available on the website.
Persuasion marketing also ensures that the customers take the necessary and specific actions, rather than just randomly interacting with the website.
When the promotion is aimed at communicating the information about the properties of the products to possible customers with the intention to influence their Desire and transform this desire into action, it is referred to as informing.
Informational marketing is done by displaying details about a service or a product to educate the audience about the basics of them. It also includes improving ways to stand out from the competitors while trying to focus on your product and its Core features.
It is like showing the specifications of a product that provides actual details or you can say the factual details in the marketing campaign.
There are chances that you have already interacted with information on marketing even though you might not have heard about the term. If you have ever read e-books, blogs, and brochures, then you have definitely been subjected to informational marketing.
Here you are presented with the exact explanation of the service or product and come to know how it is different from the other products or services that are available in the market. It is especially used in the promotion of phones or cars.
When promoting a product, it is important to keep reminding the customers about what in the form has to offer with the view to retain them and to gain a higher share in the market or industry.
Reminder advertising is the most powerful and effective technique of marketing that is used by brands to retain their customers. It is also used to keep the established products at the top of their life cycle.
This technique of marketing is usually taken up in the middle of the life cycle of a product or service. When the users are provided with the options to choose from, it is important that they stay on their site and keep in touch with them so as to persuade them to further buy their products.
Retargeting lies at the core of reminder advertising so as to advertise to the existing customers and to establish a brand name.
It is a specially used and forgotten shopping cart by provides a gentle reminder about the product or services that are fully done in the card and they can proceed to purchase.
When the promotion is aimed at reinforcing the satisfaction to the customers it is known as reinforcing. It helps in creating habits in regard to the products or services with the customers.
It intends to reassure the customers that they have done the right thing by buying the product or service and they are going to get the best results and satisfaction by using the product or service. It basically proposes to maintain the market share by trying to influence consumers into repeatedly buying the business product or services as well as at practically new customers.
When several promotional tools are used in a blind to create, maintain and increase the demand of goods and services of business it is referred to as the promotion mix. Following are some of the promotional tools that are used in the promotion mix:
ADVERTISING: The promotion of goods and services by an identified sponsor in exchange for a fee is known as advertising. It is the kind of advertising where marketing is aimed to pull in new customers by instigating them to try the business product or service at least once.
PERSONAL SELLING: This is one of the traditional forms of promotional tool wherein the salesman interacts with the customer directly by visiting them. It is a face-to-face interaction between the company representative and the customer with the objective to influence the customer to purchase the product or services.
SALES PROMOTION: Under this technique of marketing, short-term incentives are given to the customers with the intention to increase the sale for a given period of time. This technique is used at the time of festivals or the season ends by offering discounts, coupons, freebies, and payback offers under various schemes.
PUBLIC RELATIONS: When marketers want to establish a favorable image in the market of the business, it is said to be ‘the creation of public relations. There are various public relations campaigns carried out by the businesses to get the support of the people who get associated with the campaigns directly or indirectly.
DIRECT MARKETING: Because of technology today it is possible for companies to directly contact the customers without any intermediaries or paid medium. This direct technology is in the form of emails, text messages, etc.
PROMOTION MIX STRATEGIES:-
Basically, there are two promotion mix strategies as follows which are as follows:
PUSH STRATEGY: Under this strategy, efforts are made to channel the audience to influence dam in buying the business products either by personal selling or trade promotions.
PULL STRATEGY: In the pull strategy, efforts are made to influence the final consumer into buying the business product or services. Here, consumers will then demand the retailer who will then demand the goods from the wholesaler and producers.
Different marketing tools are used to promote the goods and services of different businesses. The tools also depend on the type of industry that is using the tools. All this is done with the intention to promote the goods and services by the marketing department of a business.