2.2.3 Promotion GapFill

The type of promotion strategies that are used to help sell a product or   product function service serve will depend on the nature of the goods and how competitive the market is.

There is a range of promotional strategies, and the role of the business owner or manager is to decide which strategy is right for the particular market   marketsegment amount slice that the product or service is aimed at.  So, for example, an advert on a gaming app for a care home would not be reaching the right audience.

The main method of promotion is  service newspaper productadvertising.  For the mass market, this would be TV, national newspapers and national radio stations such as Absolute Radio or Capital FM.  These adverts will reach large audiences and can be very expensive.  For niche market products, the advertising is more targeted and may use social media such as Facebook or Twitter to get the message out to the specific customers in those market segments.  Advertising aims to promote the  mark brand trade name label , raise awareness of the product or service, and persuade customers to make a purchase or switch from a different brand.  If the product is established, then advertising may be used to remind customers about the product.

Another common method of mass-market promotion is   support benefactor marketing sponsorship deals.  For example, carmaker Chevrolet sponsors Manchester United FC, and Etihad Airways sponsors Manchester City FC.  These deals cost the companies millions, but they aim to establish a positive association between the brand and the football club, which should enhance the reputation of the business.

Other promotional strategies include   trials profits wants needs and special   giving extend providing offers to encourage customers to try the product for the first time.  Many food products are promoted this way as it is important for customers to taste the products before they buy.

Changes in  industrytechnologyengineeringautomation over the last few years, with the increase of the Internet and mobile phone usage, means that customers can now be targeted with specific offers through e-newsletters, and it gives loyal customers a chance to interact with their favourite brand.  For example, Radley handbags runs social  media website socially Twitter competitions to get customers to design bags and then shows all the entries on e-newsletters.