Making Consumers Aware
A primary aim with this strategy is to enhance brand awareness, which you can say is the measure of whether public know about our company, products or services. The fundamental idea is people can’t purchase the things what they don’t know exists. For a company to compete or develop, it has to put some endeavor into getting messages out to the public.
Companies can communicate with buyers in many different ways like with the use of radio, demonstrations, print ads or commercials. Most of the time, companies use more than one of these techniques to be more efficacious and powerful. The focus is to bombard the people with knowledge and information about what the company stands for and what’s for sale.
Repetition is important for generating awareness among the people. Basically, the average individual has to hear or see a business message more than five times before it clings in the mind. So a company has to provide its promotions and advertisements time by time. Possibly, it can take time if you want to see effective results of a campaign.
KSPs and Competitiveness
As a company brings its services or goods to the public, it’s not right to say that only awareness can make someone buy. Businesses also have to show that they can provide something which is not available somewhere else. This is effectively done by executives by identifying what is special, which is also called KSP i.e. Key Selling Point. Just for example, a mascara manufacturer might give emphasis on the fact that their product stays on lashes longer. Most of the times, marketers create different campaign depending on each Key Selling Points but it’s also possible that they might communicate useful KSPs within a single message, based on their promotional or advertising budget.
Focusing these KSPs often makes a business more competitive overall. Consumers look at these essential characteristics, make comparisons and finally makes a decision about what merchandise or service to buy. The more frequent, clear or aggressive a company’s key selling point message is – the better an organization advertise or promotes itself, the more probably, the customer is likely to choose that brand. Now, a very decent and good service or product may not sell nearly as many items as a mediocre one if the attributes that makes the brand unique, better or different aren’t emphasized to buyers.
Building a Loyal Client Base
Another reason for businesses to advertise brands is to help develop customer loyalty. If the companies can show their services or products well and make buyers see the useful value in the KSPs, they will probably have a nice buying experience. The pleasant feeling that comes after making that purchase may make the consumer want to buy again and over time, he perceives the company as his prime and preferred choice. He comes back to shop the company’s products when any discount or offer is available because of the benefits he perceives.
Sales, Profits and Company Value
The ideas of KPSs, customer loyalty and awareness links to the bottom line of profits. When people know about what kind of goods or services that particular company is providing and prefer them over other company’s products or services, sales for the company usually go up. That drives up how much profit the company takes in. Huge financial profit means that executives can make an investment in more improvements or projects and the people often sees this as being original and innovative. As a result of which stock prices increase, making further profits.
Maintaining the Image
Once a good image is created by the executives, they can’t stop right there assuming their job is done. Businesses need to be very alert and they have to assess the market continually as competitors constantly are coming out with new services or products that can alter how the public see a brand. If they think that certain things are not ranking well as before, they usually make advancements and improvements in the products which are being sold, discover new KPSs and create new campaigns.
Sometimes, image problems can occur directly from within a company. If executives lie and show dishonesty about their practices, for instance, customers see this as distrust and convey their feelings about the condition into their purchasing decisions. So ethics also play a vital role in brand promotion.
Looking to the Future
As marketing directors give emphasis to brand promotion, they keep this thing in mind that even though the small alterations to messages might need to happen to maintain the competitiveness in the market, the overall company’s image will not shift dramatically. Now, as people never forget their first experience with product or services, so it’s hard to expect the complete reorientation. Therefore, It’s necessary for the leaders to have a future oriented approach in brand promotion. They have to discover a focus for the image that will help company for a long period of time. And this needs a good and a strong sense of vision.
The Element of Passion
It needs a lot of work and can be very tiring for effective promotion. People who are in business and marketing knows well that strong sense of passion is necessary for what they are doing to remain focused, efficient and energized. With spanking and good campaigns, this enthusiasm comes across to customers and make a strong impact on what they think.