Promotional marketing is a business tool that is designed to pull customers to buy the products of a company. Generally, promotional marketing is carried out by companies to launch their products or attract more potential customers. Before devising any strategy for promotional marketing, firms must ensure that they allocate a budget to the promotional marketing and set a target that gives them maximum return on the invested money. Read more on successful marketing strategies.
There are basically two promotion strategies; the push strategy and the pull strategy. According to the push strategy, the marketers give generous discounts and benefits to the customers, so that, the sales can be increased drastically. One of the most successful strategies, the method of giving discounts is often successful for most of the firms. In the push strategy, main focus is on reducing costs of the advertising. The other strategy, the pull strategy minimizes the use of different channels and the major focus is on advertising the product. It's goal is to create a potential market for the products of the firm
Marketing Promotion Methods #1 Advertising
Advertising is an expensive method of promotional marketing, wherein, the products are made to reach a large number of people. For example, by using electronic media, TV, radio, press and outdoor hoardings, advertisers target the audience and try to create an impact on customers. Read more on promotional advertising.
Marketing Promotion Methods #2 Personal Selling
One of the oldest ways of direct marketing promotion is to sell the products by direct interaction between the seller and buyer. It is believed to be the most difficult form of marketing, as it requires skills of persuasion and excellent communication skills. Read more on sales negotiation training.
Marketing Promotion Methods #3: Contests
One of the effective, popular and most preferred form of promotional