WHAT DIFFERENT WAYS CAN COMPANIES USE TO PROMOTE THEIR PRODUCTS OR BRANDS? WHAT ARE THE ADVANTAGES OR DISADVANTAGES OF EACH?
It is a fact that the offer of products and competence among companies has amazingly increase in the past few decades. Thus, companies need to promote their products and brands in order to make them known to its target customers and create product and brand awareness. Companies have to develop different promotion methods so as to reach their clients in the most accurate way. Three of the most important methods are described below.
Advertising main purposes are to inform customers about the existence of the product, explain its characteristics and benefits and finally, to persuade clients to buy it. Companies usually hire specialized advertising companies that are the ones that create the adverts, which can go from classifieds to commercials, going through sandwich board men or sponsorships. The main advantage of advertising is that it gets to a wide range of customers whereas, its major disadvantage is that people may get bored of it.
Another important promotion method is public relations which functions are to protect and improve the image of the brand or product by the use of publicity or by organising special events. This way, customers do not have the same overwhelming sensation of consumerism that pushes them to buy as they might have with advertising. However, it implies long hard working days for the employees in charge.
Finally, sales promotions offer advantages to customers such as free samples, coupons, price reductions, etc. Although it is an excellent way of increasing sales at specific moments and reducing competition, if the promotion is not efficient, competitors can appear again as soon as it is over.
In conclusion, there are several ways of promoting a product or a brand. Therefore, companies have to choose the one that best suits them after having made a study of the market and its characteristics.
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