Marketing and brand promotion
Marketing and brand promotion
In brand promotion strategies that will cause an increase in potential customers awareness of the brand and loyalty is set. This strategy of brand promotion remains to be very effective and most companies depends on repeating of advertisements to make the consumers be familiar with the brand. Brands that the consumers are aware of, are often given a trial and in this case most of them seem to perform better than those that are unknown. Brand promotion in the market depends on the commitments and devotion to ensure that the product under promotion is wells established to compete exemplary well with the already existing products in the market. As a fact this task will consume some money and time convincing the consumers on the advantages and the reasons why their brand is to be preferred other than the other brands. Investigation shows that brand promotion leads to increased sales and as a result an increase in profitability which is the major measure of success. In most cases brand promotion is done by employing multimedia approach like advertisement on radio and TV.
In our case Jackie should spend time looking for opportunities for growth by identifying the most relevant insights on the kind of customers she is targeting. She should be aware of the existing competition and come up with strategies to make her brand the best. As stated earlier promotion operations consume a lot of money but since this is done for the well-being of the company this kitty should be budgeted for since it will later bring profit realization. There are various sources of funds for brand promotion either private or public and depends on the kind of relationship the company have with various stakeholders.
The main reason for making promotions despite high cost criticism is on TV. Television offers creative opportunities and gives greater meaning to a brand making it admirable to the consumers. Advantage of using TV in brand promotion is that it provides an opportunity for displaying the promotion message and the consumers can also combine interactions of both the sound and sight. Consumers while watching their favorite programs are exposed to this kind of advertisements and due to their repeatability they are able to give a trial to the brand. Lastly most of consumers’ watch TV which makes it possible to reach many of the audience. Use of TV for Brand promotion is cost effective relative to the number of consumers getting this information.
First way of raising money is through the customers. This is enhanced by the kind of relationship between the company and the consumers. For instance, even the most profit making companies do not only depend on their profits. Getting funds from customers enhance faster growth allowing the business to capture new markets to greater number of customers. Most businesses that obtain their funds from consumers are more efficient since this source of finance ensures that the company grow at a faster rate and achieve the economies of scale to compete with other companies with the same brand. Customers are much willing to finance a company that produces brands that are competitive as compared to the government. This funds from the customers can be well budgeted for brand promotion.
Second funding can be from clients of the company, third from donors and lastly from voters. Donors are also advantageous since they do monitor the usage of the funds and can also contribute on the disbursement of the funds towards various brand promotion strategies.
Promotion messages should be based on facts and also depends on the target group of the customers; also the message should be persuasive and convincing. All the stakeholders should be involved in the promotion like donors, customers, clients and also the voters since this will make the uniqueness of the brand be known by most of the consumers.
Hierarchical Relationships in the market differentiates HMS from competitors due to their pricing distribution and marketing ethics effectiveness. HMS are characterized by the following differences from other competitors; ethical, transparency, accountability and efficiency. Transparency in this case will enable the type of brand to be marketed gain trust from the consumers that it is to be preferred to other already existing brand and maybe from other companies.
Integration of technology in production and promotion of new brands makes the HMS to exceed the competitors’ expectation in that they are able to produce a brand that is more efficient and economical while still making huge profits due to high demand and producing more products for their customers.
Success in this case can be defined to as the use of appropriate technology to market a brand that eventually overcomes the existing ones. This can be achieved through change of culture, integration of new technology bench marking and evaluation techniques.
Conflict resolution is a method and process involved to end marketing conflicts in a peaceful manner. The members like clients, consumers, donors and all other stakeholders are committed to bring over the differences and ideologies by engaging in collective to solve their problem through diplomacy, mediation or negotiation.
In conclusion brand promotional strategies can be based on objectives such as increase o sales with subsequent increase in profit; consumers new brand acceptance and competitive retaliations. There are many different ways of promoting brands. There are; use on internet blogs, social networks and offering discounts. In many cases the producer promotes his or her product to the wholesaler, the wholesaler promotes to the subsequent retailer and the retailer to the customer who is the last consumers. Basing the promotion activity on various sources of funds it’s clear that all the stakeholders leading to the raising of this funds should be involved in helping implementing the various brand promotion strategies.
O’Guinn, T. C., Allen, C. T., & Semenik, R. J. (2012). Advertising and integrated brand promotion. Mason, OH: South-Western, Cengage Learning.