Wednesday, March 25, 2015

The Implications Of Promotional Swag

By Lelia Hall

Through promotion, the awareness on a product is raised to the consumers. Sales will be generated and brand loyalty will be created. This will consequently raise the demand in the market. Promotional swag is important when differentiating products. There are several ways of product promotion. It can either be personal all through the media. It is more expensive and time consuming when it is personal.

Transmitting of non personal communication through a mass media is known as advertising. Newly produced goods needs to be advertised. This will help in making sure that the customers will know of its existence. Rational choice making will be facilitated. Consumers search costs, which also includes time are reduced since the retail location and qualities of products are given. The choosing of a brand is made easier.

Publicity is a free promotion tool through new stories in newsletters, newspapers, magazines and television. Newspapers and magazines are the cheapest means that promotion can be carried out. Television is image oriented and conveys little information beyond the existence of a product. Television and radio are mostly preferred as they are accessible to a large proportion of the population.

Promotion of sales is a communication form that is not found in either personal selling or advertising. This is affected by direct mailing. This means that the seller has information about the specific buyers. These methods include; trade discounts, sampling, exhibits, discounts on volumes and more. A promotional design should be clearly defined.

Cost should be a major consideration when making the decision of promoting products. This should be based on the fact that you are carrying this process in order to maximize profits. Hence, an appropriate method ought to be chosen effectively and should cause low cost implications as compared to the benefits. It is directed to specific customers of a product. The inability to measure the effectiveness of promotion and media costs makes its allocation difficult.

A good strategy of this process must be capable of attracting the highest number of consumers. This will result in higher profits on the side of the seller and hence his goal will be fulfilled. It ought to be able to change how a customer perceives a particular product and make it more preferred than the others. The proportion of costs to the benefits received should be low if management is well performed.

The media that are most likely to reach the target audience should be used. Promotion could be in terms of quantities, prices and qualities. Products could be offered at a low price or huge discounts allowed to the customers by the producers. Customers who had not used a product before may be triggered to use it in the promotion process. The attributes being promoted should be easy to understand.

Profits could reduce initially but will eventually rise with good strategies. This implies that most customers are now aware of the required information. Competition raises the costs of promotion. The products being promoted should meet the tastes and preferences of the customers.

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