Promotion Strategy (Essay Sample)

Promotion Strategy
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Institution
Promotion strategy
Promotion is very important for any business that wants to succeed in the business world. Many organizations have learned about the tricked and decided to use them to their advantage. Promotion is meant to increase the sales and revenue of the organization by increasing the number of customers. Customers have a tendency of purchasing products from the companies who have many advertisements especially via the media. Promotion can take place in various media but it is not as affordable to all organizations especially the small ones however, it is a good platform for increasing number of customers. Radio and television are some of the media services used by companies to promote their products. Some businesses also use billboards and print media to promote their services and products. A global marketing company called Lundy LTD recruits only the competent personnel in their company in order for them to give quality work hence competitive advantage. This paper focuses on Line promotion strategy for carbonated soft drink and Branding as a promotion strategy of breakfast cereals.
Some companies are a sponsor of the National Football league (NFL).This serves as one of its advertising modes as it offers its customers exclusive NFL content (Shimp, 2011). This move helps companies attract and retain its customers. Promotions have therefore helped companies in its growth from time to time especially during boom. Although, during economic times Promotions are an expense that can be avoided, they can use it to increase on their sales or even stabilize their sales preventing their customers from being taken by their rivals. Line promotion is important because it helps the business to focus on certain products that the company needs to focus on. The company will therefore save on cost since it will be less as compared to what they would have used if they majored in all the products of the company.
The marketing department has many tools to choose from hence giving its customers a variety to choose from. The tools include personal selling, sales promotion, direct selling and advertising. Line promotion is the encouragement of customers to purchase a product. Its main purpose is meant to increase on the sales and revenue of the company. The main purpose of promotion is informing the customers about everything about the carbonated soft drink. This will establish a good relationship between the customers and the company hence enabling them to be loyal to the company (Belch et al. 2008).
Branding as a promotion strategy of breakfast cereals
Branding is the process of ensuring that the company’s products are distinguished from the rest in the market. The different features that the company uses is what we call branding. This enables the customers to differentiate between breakfast cereals and that of the competitors. The branding of the products is supposed to be unique hence making it easier for the customers to pick them in the shelves or anywhere else they are sold. The company does this by developing a name for the product. According to Aaker (2011), designing and packaging is part of the branding process. Branding is supposed to answer the questions of the name of the product, which company has manufactured it, its trademark as well as its brand equity. The brand name is supposed to be attractive hence enabling the product to stand out in the crowd by ensuring that the products are chosen by the customers.
Similarities between the promotion strategies used by both products
Both promotion strategies come in different forms. Most companies use the data from the previous period to make the decision on the promotional budget. This is not good for the company because it does not take into account of all the changes that take place during this period. Due to this, they will make wrong decisions on the budget and it could make the company suffer great losses. The company should therefore take into account the changes that take place in the economy in order to ensure that the company does not make decisions that will jeopardize the welfare of the company.
In both cases, plans that involve the promotion of the company should not be taken lightly. Several factors should be taken into consideration before coming up with the decision. The marketing distribution of the plan should be discussed in order to ensure that they determine the distribution channels to be used in relation to the marketing process. New promotion strategies should be encouraged in order to ensure that they come up with new methods and new ways of doing things. Customers want new and fresh things in order to ensure that they break the monotony of watching one thing repeatedly.
Promotional technique is important in that it improves the performance of the company in the market in terms of sales. The company can therefore use this method to reach out to particular market segment. This means that the market segment is not supporting its products as much as other parts of the market is doing. The company therefore uses this method in order to ensure that they persuade them to purchase their products. According to Shimp (2010), both c...