Marketing strategies for product promotion. Development of a strategy for promoting a product or service, its main elements. Strategies for elements of the marketing mix
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Introduction
1 The concept of product promotion
2 Product promotion strategies
Conclusion
List of used literature
Introduction
In business, it is very important to accurately formulate the task and determine the marketing strategy. The complexity of the problem lies in the fact that in the process of activity at the present stage of development of market relations in Russia one has to deal with completely different conditions: with backward enterprises with low profitability, high energy intensity, old equipment; as well as with leading enterprises with modern technologies, equipment and qualified managers. In addition, a new market situation has emerged, which consists in the presence of a process of import substitution and the opportunity to occupy free segments of the market for quality goods, as well as those remaining in significant quantities after the crisis transnational corporations selling goods High Quality.
The development and adoption of strategic decisions occur in conditions of extreme instability and uncertainty in the development of the market and marketing environment.
At this economic stage, the strategy for promoting a product in an enterprise is one of the most important.
Promotion of a product from the manufacturer to the buyer includes various stages. Successful promotion requires advertising, publicity, and other stimulation methods. The immediate moment of selling the product to the buyer is the final point of promotion. Therefore, it can be argued that promotion is an extremely important element of marketing, aimed directly at the buyer.
1 The concept of product promotion
Promotion is the activity of planning, executing and controlling the physical movement of materials and finished products from the places of their production to the places of consumption in order to satisfy the needs of consumers and make a profit.
The main methods of product promotion are presented in Fig. 1:
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Concept and features of promotion strategy
Definition 1
Promotion strategy is one of the subtypes of functional marketing strategies. It is a strategy for selecting and using incentive methods aimed at ensuring the sale and marketing of the company's products. In other words, it is a sales promotion strategy.
A promotion strategy can also be defined as a complex marketing work, including a description of the target market segment, positioning, brand structure, marketing communications distribution channels and a media plan.
Promotion strategy fulfills certain functions. In particular, these include:
- informing;
- exhortation;
- reminder;
- positioning;
- retention;
- formation of consumer demand;
- incentives, etc.
The implementation of a promotion strategy is designed to create market awareness of new products, a corporate brand or a certain event. At the same time, it contributes to the gradual, consistent formation consumer preferences and attracts the attention of potential customers to the company and its products, encouraging them to make a purchase.
By maintaining market awareness, the promotion strategy reminds potential customers about the company, its products and services, and also helps retain loyal consumers. It also positions the brand, product and business as a whole. The most important functions of promotion strategies. However, sales promotion and the formation of consumer demand are considered.
A promotion strategy allows a company to identify the current position of the company’s products on the market and make a forecast of future development, taking into account the resource potential of the company and the state of the market. Thanks to it, market risks and opportunities are assessed, and free market niches and ways to penetrate them are determined.
Note 1
A promotion strategy always involves the need for positioning trademark and creating a system of integrated marketing communications.
Basic elements of a promotion strategy
Being an integral element of marketing, a promotion strategy consists of many elements, the totality of which constitutes a complex of marketing communications. They are presented in general form in Figure 1.
Figure 1. Basic elements of the marketing communications mix. Author24 - online exchange of student work
Advertising is the basis of promotion strategy. In general, it represents a targeted informative impact of a non-personal nature, carried out in relation to consumers with the aim of promoting and selling the company's products. Its main goal is to convey information to the target audience, which is carried out through the use of various media channels.
The second important element of the promotion strategy is direct sales promotion. In general terms, it should be understood as a multiple set of short-term incentive campaigns carried out by a company, aimed at stimulating potential consumers to make a purchase or test products and services.
Sales promotion can be aimed at:
- end consumers;
- intermediaries;
- sales agents.
The third element is propaganda or PR (public relations). This group includes various programs created to promote and/or protect the image of the company and its products. Their main goal is to establish and maintain communications between the company and the public in order to achieve strategic business goals.
The fourth element is personal selling, which should be understood as the direct interaction of organization representatives with one or more potential buyers for the purpose of making presentations, answering questions and receiving orders. In other words, this is a direct presentation of a product or service to a potential consumer, carried out official representative companies.
In some cases, direct marketing is classified as a separate group within the promotion strategy, based on direct (immediate) interaction between the consumer and the manufacturer in the process of selling a specific product.
Development of a promotion strategy
The development of a promotion strategy is subject to a specific algorithm, which requires going through a number of stages. They are presented in general form in Figure 2.
Figure 2. Stages of developing a promotion strategy. Author24 - online exchange of student work
To penetrate new markets and strengthen positions in existing ones, a company must take into account regional specifics. An equally important role is played by understanding the strategic goals and objectives of business development. The promotion strategy must correspond to the general concept of the company's development and complement the marketing strategy of its development.
An important step in developing a sales promotion strategy is analyzing the market, especially competitors. Here it is necessary to understand how competing companies sell and promote their products, what tools they use, and how they attract consumers.
Based on in-depth analytical study, in accordance with the overall marketing strategy, the company’s goals in the field of promotion and sale of its products in selected markets are determined. A promotion policy is formed, the set and content of marketing communications tools are determined. The process of bringing products to the final consumer is subject to planning.
An important role is given to the formation of a promotion budget. Here, the amount of expenses for the implementation of the measures proposed within the framework of the strategy is predicted, and planned indicators sales
Based on the stages described above, a promotion strategy is formed. Mechanisms for bringing products to consumers and ways to stimulate consumer activity are determined. A special role is traditionally assigned to advertising policy.
In what ways and through whom should you promote your product on the market? All entrepreneurs who want to occupy a certain niche and receive good income from business are certainly familiar with such concepts as marketing and strategic planning. What do these terms mean? What are the rules for promoting goods and services on the market?
Let's try to reveal the secrets of the most effective ways their promotion, which has been considered the most effective for half a century.
What is promotion?
How to sell a product on the market as efficiently as possible? To do this, it will be necessary to carry out a whole range of measures, which will increase the demand for the products produced by the manufacturer and the services offered.
Promotion of a product on the market represents certain actions, the purpose of which is to increase the efficiency of sales through communicative influence on consumers, partners and staff. The purpose of such steps is twofold. On the one hand, promoting goods and services to the market is necessary to activate consumer demand. In addition, such events should maintain a favorable attitude towards the company.
Product promotion functions
This concept is one of the main elements of marketing. This is confirmed by a number of very important functions assigned to it. Among them:
- Providing information to consumers about the product, as well as its parameters. After all, even with clear competitive advantages of products and the presence of associated innovations, the release of products will be absolutely meaningless if customers are not aware of them. It is especially important to convey such information to the right audience if a new product is being promoted to the market. For example, ultrasonic washing machines put up for sale will be in demand by customers if the manufacturer explains their advantages by comparing them with conventional washing devices. Required condition At the same time, such information is confirmed by enthusiastic owners.
- Creating an image of innovation, low prices and prestige. Promotion of a product on the market aims to create among buyers an idea of a particular thing, which often exceeds its real consumer meaning. For example, plastic windows, produced “without lead”, or shampoo with a pH of 5.5.
- Supporting the popularity of goods or services offered on the market. This function is performed by reminding consumers of the need and importance of a particular product. For example, customers should always remember that in their lives a holiday comes only with Coca-Cola.
- Changing certain stereotypes in the perception of a product. The idea of a particular thing does not always correspond to the expectations of the supplier and manufacturer. In order to change the negative trend, it is necessary to conduct a special campaign to promote the product on the market. For example, at one time the South Korean corporation Samsung increased the warranty period for equipment to three years. This is precisely what the product promotion campaign on the market was built on. Potential buyers were thereby convinced that the products of this company were not inferior in quality to those produced by Japanese competitors, and their prices were lower, and the service was better.
- Stimulating subjects of the sales system. The development of product promotion on the market is carried out taking into account the fact that the company can sell its products not through direct sales channels, but through intermediaries. In this case, to increase purchases, it will be necessary to stimulate final demand using various promotion strategies.
- Sales of expensive goods. The price of a particular product or service is sometimes not the decisive factor when choosing a client. This occurs in cases where a product is assigned a unique quality in the eyes of consumers. Thus, during the ongoing promotion campaign, it is explained to potential buyers that the Tefal frying pan, although expensive, has a removable handle and can be compactly placed in a kitchen cabinet. At the same time, similar products from competitors do not have such properties.
- Favorable reviews about the company. This function of promoting goods to markets is sometimes called nothing more than hidden advertising. It is achieved through the actions of sponsors, the implementation social projects etc. And although recently such an organization of promoting goods on the market has become very popular, it is still the last in its importance. After all defective goods, sold at a high price, will certainly cause negative consumer perception. Sponsorship will not help in this case to sell the products.
Increased consumer demand
Marketing Promotion product on the market provides four options for ways to increase consumer demand. Let's take a closer look at them.
Among all types of product promotion, this is considered a non-personal form of communication carried out with the participation of paid means that disseminate information.
It is from this point of view that it should be considered Advertising activity. After all, you can pay as much money as you like for information about a product, but if it is not in demand on the market, then the level of its sales is unlikely to rise.
Advertising effectiveness
Methods of promoting a product to the market through the media will bear fruit only if the information provided to the consumer contains an assessment of a particular thing, as well as arguments in its favor.
- Objective. In this case, advertising for promoting a product to the market contains logically understandable features of the product.
- Subjective. They are designed to form certain associations and emotions in the consumer.
But be that as it may, the information provided to a potential buyer must contain some kind of unique offer. At the same time, the consumer must understand that if he purchases the item or service offered, he will receive some specific benefit from it.
Advertising perception
- Necessary information that is understandable, accessible and very quickly remembered. Such advertising does not require significant investments. Just a few lines in the newspaper are enough. An example of this is advertising about writing coursework and theses for students.
- Random information. As a rule, they do not remember it at all or remember it with difficulty. In this case, the information must be linked to the media - the advertising medium. A potential consumer will find the ad he needs if necessary. For example, if you want to install plastic windows in your house, he will open a free advertising publication. The main task of the seller is to ensure that his offer catches the client’s eye.
- Unnecessary information. Sometimes advertising is ignored by the consumer or simply irritates him. This is always taken into account when marketing a product to market. Unnecessary information always occurs. The product cannot be in demand by absolutely everyone. The main question in this case is: what part of the audience is for whom advertising is unnecessary?
Once the consumer understands the need to purchase the advertised product, he will decide to purchase it. The task of marketing in this case is to correctly determine the target audience and means of promoting goods on the market, which will increase sales volumes.
Direct (personal) sales
Among the ways to promote a product on the market, there is one in which sales become possible thanks to a conversation held with a potential buyer. The second name for such activities is “direct marketing”. When implementing such a strategy for promoting a product to the market, significant financial investments will not be required. Moreover, this method refers to a higher level of business organization compared to the banal retail trade or providing household services.
This type of promotion is impossible without the company’s employees knowing the features of the goods being sold, including their quality and operational aspects. This allows for more qualified customer service.
A particularly important point
If you ignore the direct sales method, sales volumes can be significantly reduced. This is observed even if all other marketing conditions have been met by the company. For example, when offering high-quality and cheap goods, with an ideal store location, a huge assortment and an effective advertising campaign, the rudeness and disinterest of sellers in communicating with customers is unlikely to allow the outlet to make a profit.
The advantage of personal selling
When using this strategy for promoting a product on the market, the positive is:
Individual approach that is applied to each buyer;
Possibility of transmitting a large amount of information about the product to the consumer;
Availability feedback with the consumer, which allows short time adjust manufacturing process And advertising campaign.
Disadvantages of Personal Selling
Negative side Such a marketing strategy is supported by a high level of turnover costs. After all, the relationships that take place in the organization trading network, often lined up like a pyramid. Personal selling is most effective when the seller offers an exclusive product on the market. If such trading is carried out simultaneously retail outlets and traveling salesmen, then personal sales will be uncompetitive. In this case, in the eyes of the buyer, the product loses its exclusivity.
Propaganda
This type of strategy for promoting a product to the market is one of the types of public relations. This is an incentive that is not paid for by the sponsor. Propaganda aims to attract the attention of potential buyers. In this case, you will not need to spend on advertising.
Propaganda means
The main tools for such promotion of a new product to the market are:
Speeches at which representatives of the company participate in welcoming speeches;
Events in the form of press conferences or online meetings, holding anniversaries and seminars, etc.;
News in the media with information about the company’s products and its employees;
Publication of annual reports, brochures, newsletters and other printed materials;
Sponsorship in the form of allocation of monetary resources and time for sports, charitable and other significant events;
Means of identification in the form of using the logo (emblem) of the enterprise, business cards, uniforms for employees, etc.
Sales promotion
This term refers to a set of activities that promote product promotion. This may include various elements of marketing associated with relationships in distribution systems.
Sales promotion activities are directly related to the price of products, their consumer properties and sales channels. Such a marketing move involves influencing three recipients. Among them:
- Buyers. To encourage them to make purchases, the trading organization organizes lottery competitions, promotions, loyalty programs, etc.
- Counterparties. To increase the volume of trade transactions and focus on the sale of the supplier’s products, promotional materials can be provided, competitions based on sales results can be held, assistance can be provided in employee training, etc.
- Sales staff. Among the forms of incentives for such employees are: competitions in terms of sales volume between employees, payment for health vouchers at the expense of the company, the accrual of material bonuses, etc.
Conclusion
The importance of the topic we discussed for successful development business is extremely high. Without promoting products, it is unlikely that you will be able to organize a profitable business.
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