When creating promotional strategies you should think of its many facets. A promotional strategy cannot live on only a few components. It must live on most if not all, including advertising, sales promotion, publicity, personal selling, and direct marketing. Each of these factors plays a key role in positioning the seller into an area where consumers are more than willing to buy their products. Looking at these components and how they are used in certain situations will teach even more about the best ways for any company to thrive in its marketing area.
In looking at the area in which to market – Shoe boutique – there are many observations and ways that promotional strategy (fitting a reasonable price range) can help elevate this company to a much better position in the market stratosphere and help it reach its target market. Advertising’s definition according to the dictionary is the activity or profession of producing advertisements for commercial products or services.
According to Contemporary Advertising and Integrated Marketing Communications, advertising is the structured and composed non-personal communication of information, usually paid for and usually persuasive in nature, about products (goods and services) or ideas by identified sponsers through various media. When creating advertisements for companies there are areas we must look at such as target market. With advertisements, cornering the target market is about putting ads where the potential buyer will be able to see it readily.
If females are to be targeted the ads should be shown on female-centric websites, magazines and television stations. Specifying a part of the female spectrum can even drop the price that broader advertisement would take. This promotion would need to be included in our strategy for anyone to know about the product. Promotion in any company is more than valid. It is required. So promotion in the case of a store is needed to inform potential consumers about your product. Towards a layman the definition of promotion is the publication of a product, organization, or venture to increase sales or public awareness.
Promotion has to be a large area in the strategy because it is named after this section, but also because promotion is a big part of what draws consumers to any certain store or product. Having a store placed in a certain area versus another has large promotional implications. If a store is closer to the front of the entrance rather than the back their store is more likely to have more customers and then gain more revenue. Placement of a product or service is a balance between the profits you can have from a more prominent area and the price you have to pay for that.
It is especially difficult for established brands whose name and image will not be readily recognized by individuals. There are other types of promotions that can be used to advertise a company. Some companies host raffles and have free giveaways. In this way the company can promote itself and make its name known to many more people than would happen outside of these efforts. Cost does come into play in this seeing that it would be expensive have free giveaways but done in the right way, such as in a raffle, revenues can be generated to make it even better for the company. Publicity is a very interesting topic because it can be broad and specific all at the same time. We all here variations of the term “no type of publicity is bad publicity” and this is true but mostly for companies that are not known and in the public eye. A company such as Payless Shoe source would likely hurt from any bad publicity because it is already well known. The definition of publicity is according to marketing experts is the generation of news about a person, product, or service that appears in broadcast or print media.
In most situations a company will have to do something that directly affects the outside world to receive publicity. Some of the perks of publicity is that it is free, and it can sometimes reach a level of notoriety that specific promotion could not reach. The cons of this part of the strategy are that a company cannot control what is said about them and this means that the publicity creator has full control on how they portray the company to the public. Corporations can only hope that they are portrayed in a good light.
Way’s that companies usually create publicity is to hold events or have special promotions that will be spoken about on radio and television. In doing this any company can have publicity and be able to control it in some way shape or form because they are controlling the activity that has created the publicity. In light of the nature of publicity and how evasive it can be companies set up P. R. ’s (Personal Representatives). These people speak to the press when they have questions for the company and are the face of the company when there is any problem.
All in all the blessing/cursing relationship between companies and publicity is an area that all companies must deal with in a wise manner. Direct marketing is a system of marketing in which companies build their own database of customers and use a variety of media to communicate with them directly such as through ads and catalogs. In other words this is called building on your own base. This is one of the best and most tested ways to keep loyal customers loyal and enthusiastic about the company they use.
There are many amazing examples of direct marketing being used well portrayed well, including Old Spice, Samsung, and Wavebuilder. These companies use social media and their own websites at times to do what normal types of media cannot do. Reaching out to the people by responding to comments asking questions and giving prizes now done on a wide scale for companies who sell product types that people will still need to use in the future and buy again. All in all using these things can only help a marketer in reaching out to his target market and making strides for the company to grow bigger and better.