Nowadays marketing and promotion have an important role in our society. Advertising is all around us and reaches almost everybody, trying to influence our behavior or consumption trends. When promoting a brand or product there are a variety of factors to take into account. A brand which is already established in the market normally will have more resources than a new brand, and so, can afford different strategies when launching a product.
Assuming that the firm which launches a new product is not completely new, they could try to promote it along with their existing products. In other words, they could provide consumers a free sample when buying products of their brand. Another alternative could be preparing a official presentation of the product to which you could invite potential consumers or shareholders etc. to make people aware of the latest introductions in the market.
On the other hand, assuming the brand is completely new not only would the products have to be promoted but the brand. An attractive advertising campaign would be perfect. If the firm has enough capital they should do some research in the market to understand how it works and which could be the best way to attract future consumers.
However, all these strategies, even if they look or sound good are expensive. Nevertheless, the firm should try to be efficient and do all it can according to the its’ capacity. For example, collecting data may be very time consuming and expensive if you try to get first hand data, instead you could look for second hand data which would be cheaper and quicker (although it may not be the best information). The key is finding each firm’s means to attract consumers and then the perfectly informed market would do the rest for itself, once you are in, your promotion techniques will be similar and, most likely, will have similar results.

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