promote 1948

How can companies promote their products.

Companies have many different ways of promoting their products and brand. The four main promotional tools are advertising, public relations, sales promotion and personal selling.

There are many different ways of advertising. The most common and most effective way is word of mouth advertising which occurs when people tell their friends about the benefits of products that they have purchased. The main advantage of this type of advertising is that it is costless for the company.
Another way of advertising is prestige advertising which is designed to build up company’s reputation.
Finally another way of advertising used by large companies is to use the services of advertising agencies. The main advantage of using this service is that they do not have to set up their own advertising department which will mean a larger cost to the company. On the other hand, other advantages are that advertising agencies have larger amount of resources as well as more knowledge about all aspects of advertising. Another advantage of purchasing this service is that you agree a budget and a statement of objectives with the agency and they develop a plan specifying which media will be used and in which proportion.
The only disadvantage is that companies never know how much to spend on their campaigns which is a usual problem.

Secondly, another way of promoting your products is sales promotion. This can be done in different ways like giving out free samples, coupons or reduced priced packs to attract price-conscious brand switchers.

To end with, personal selling is another useful way of promoting your products. The main advantage of it is that clients are treated separately and that is has been proven that the majority of new product ideas come from customers via sales representatives.

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