What Is A Promotional Marketing?
Promotions are such a part of marketing that it has become an integral part of it. Many marketing stunts to attract buyers for a product or service use promotional activities such as giving of rewards, bonus points, free foreign travel or discounts. The role that promotional marketing play in a marketing drive cannot be underestimated and its utilization has enabled many ad campaigns to achieve the desired results. It involves giving of information about a product, product line, about a brand or company. It is one of the elements which together with pricing, distribution, pay role and product marketing forms a marketing mix.
Marketing promotions are generally divided in two parts. The first is below the line promotion such as product placement, sales promotion, merchandising, personal selling, direct mail, trade shows, public relations, endorsements, sponsorship and all other forms of promotion that does not belong to the other category. It is carried out in such a way that the consumers are not aware that a promotional drive is taking place. The other category is called above the line promotion which is an opposite of the previous category. It is carried out through the media such as newspaper, radio, internet and even through cell phones. An individual or firm who advertises does not do so directly but engages the services of an advertising agency to place the advertisement for him in whatever medium it sees to be more advantageous to the advertiser.
The role of b2b marketing
Promotional marketing is intended to gain more sales and broaden the consumer base. But there is also a kind of marketing that is carried out on other businesses. It is known through many parlances such as business marketing, industrial marketing or the more modern b2b marketing which is a short term for business to business marketing. It is the process of facilitating the sale of goods and services to other companies or organizations which in turn resell them at a profit make use of them as a support for their own operations or use them as a part of a product or service they are offering. This type of marketing is not only conducted by commercial establishments but also by the government and other institutions, though dealing with the government is called by a different name which is b2g or business to government marketing.
While b2b marketing seems like an alien sounding name and one may draw the conclusion that it is just but a small segment of a commercial business, it in fact has the largest market of all. This is because transactions carried out in its business level far surpass those that are carried out in the consumer market. Government agencies, commercial businesses and other institutions has more than half of the economic activities in industrialized countries such as the United States, Canada and other highly industrialized nations around the world just to support their own operations and to promote their own goods and services. And while it is carried out at higher business level, marketers also has promotional programs in which to attract more companies to take orders from them.
If industrial marketing is carried out on a business to other business level, there is a kind of marketing that is carried out on the street level too. This is called street marketing which is generally done on an outdoor market located in market squares, plazas or other areas designated by the local authorities. This type of markets is traditionally allowed only on certain days of the week or month depending on the preference of the local population or authority. In modern days, it is often seen in a market gathering called bazaars which crops up at certain times of the year where there is an expected large gathering of people such as festivals or a season that is seen as there is more money in the hands of the population such as Christmas season.
Street marketing is a more direct, more personal type of marketing due to the nature of trade in open markets and bazaars. It is perhaps the type of marketing that is most familiar to most people since this kind of business deal has been going n ever since sales and trading was invented. There is also not much specialized knowledge needed accept perhaps knowledge of the local people and economic condition. Here, the promotion of goods and services is also done in a direct, word of mouth advertising. Often, one can see the owner or his people shouting out the benefits of their goods or services to passing consumers. It can also be done by guiding them in their own stall and helping the costumer have his selection and has been known to offend some consumers because of the rude manner by some merchants.
There are many types of marketing but all are engaged generally in the sales and distribution of goods and services which the definition of marketing. Though there are different categories and different variations in its dealings and connotations, marketing have become an integral part of our everyday lives that you cannot avoid it except maybe if you live in solitary in some remote area. Because of its broad spectrum the definition of marketing has evolved into many variations of the same theme and may find the number of meanings rather confusing. But if one may look closely all of these meanings have one connotation which is the movement of goods and services from the supplier or manufacturer to the end user or costumer with the intent of producing more revenues and gaining more clientele.
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