Promote_1984

WHAT DIFERENT WAYS CAN COMPANIES USE TO PROMOTE THEIR PRODUCTS OR BRANDS?

As we are in the Information Era, sales do not longer depend just on what we sell, but on how we sell, how we promote our product; information makes the difference.
Existing as many different means to promote a product, they could be classified by their range, efficiency or even cost, but the most classical way to assort them it is by the approach of their purpose.

For instance, Advertisements enables the companies to locate, and present the product to their potential customers through wide information delivery channels such as TV, the radio or even internet. Its range it’s greater, but generally it’s not very precise, and focuses on a bigger public.

On the other hand, there is also a further approach to the client, like Personal selling, that implies a more direct contact with the client (by phone, personally..)Although being its range smaller, it’s frequently used for usual customers.

However, there are other ways to boost sales, such as the direct promotion of sales: by using coupons, discounts, special offers….which would involve a reduction on the price, but might compensate with higher sales.

Nevertheless, sometimes enterprises decide to improve directly their image; their brand. Public relations (PR) play an important role in that task using as tools parties, trade fairs, or even sponsoring sports. But the drawback it’s that in spite of helping the company image it doesn’t really improve the selling too much.

Finally, it should be emphasized that most promotion tools imply a high cost, so while they might increase the value of the product and give the enterprise flexibility for setting prices, it will also causes an increase of the cost budget of the product, originating the current situation, in which, paradoxically, “Own Brands” have reached their peak.

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