BRAND PROMOTION AND ITS IMPORTANCE

BRAND PROMOTION AND ITS IMPORTANCE

What is a brand?

Definition

To understand brand promotion, we first need to understand the meaning of the brand. The brand is the identifier of an enterprise. It can be a name, sign, symbol or a combination of these. This helps in distinguishing one product from its competing products. Brands, when registered legally enjoy several exclusive rights for its use and no other enterprise can copy their brand name.

What is brand promotion?

Brand promotion is the process which enterprises use with the purpose of informing the customers about their products and persuade them to buy those products. There are four elements of the promotion mix. They are advertising, personal selling, sales promotion and public relations. For the promotion of a product, we use these tools.

Brand promotion and its importance

Features of promotion:

  • It has Mass reach
  • Also, it is very economical.
  • It increases the confidence and satisfaction of customers.
  • It is very expressive and hence helps the customers in understanding a product easily.

Why is brand promotion required?

  1. Information:

Promotion helps in conveying the information like features, special schemes and prices of a product under a certain brand. It makes it easy for the customers to filter out the features and then buy something according to their need and want. The clearer the information, the more people will be attracted towards the product. Hence, brand promotion becomes very important for providing the customers with a sense of clarity.

  1. Product differentiation:

Brand promotion helps in product differentiation. It convinces the customers that the products being promoted have unique features and hence they are different from other competing products. It increases the credibility of the products by differentiating them from others.

  1. Brand building:

Brand promotion helps in brand building remarkably. It increases the popularity of the brand by making people aware of the brand and its products along with their features.

  1. Demand:

Brand promotion increases the demand for the products that are being promoted. As by brand promotion, a product comes in the eyes of people and people tend to buy and trust products which are advertised intensively.

  1. Sales stabilization:

Brand promotion helps in stabilization of sales at times when the sales get affected by political, natural or social changes. They bring out products according to the changes and then promote it intensively for the people to get to know the products.

  1. Outshine the competitors:

Brand promotion helps in outshining the efforts of competitors. A lot of times, even a well-established brand needs to do extensive promotion to maintain its hold on the market. It becomes necessary to outshine its competitors to attract more customers and brand promotion adds to the efforts made by an enterprise to outshine its competitors’ efforts.

  1. Image building:

Brand promotion helps in building a positive image of the brand as well as the products. Brand promotion has an element of advertising. To appeal to the customers by providing them with creative content about a product, one does advertising. Through advertising, an enterprise builds a positive image of the product in the eyes of people by showing the benefits of the product in an eye-catching manner.

How to promote a brand?

There are several ways to promote a brand. Some of them are as follows:

  1. Giveaways:

Giveaways are a strategy which means giving a certain amount of a product as a sample to people for a free trial. Enterprises usually do giveaways for eatables, cosmetics, etc. This is a very efficient strategy to attract customers as people dig free things.

  1. Social media:

Social media and how it helps

Social media plays a very significant role in the promotion of a product. It helps in better communication between the brand and its customers. It also has a personal touch as it allows the brand to keep in contact with their customers very efficiently.

  1. Customer appreciation:

To create a bond between the customers and the brand, enterprises do customer appreciation. Various events are organized by the brand to retain the existing customers along with attracting new and potential customers. The events organized are in-store events with a lot of food and fun games and other creative things to do.

  1. Causes and charity:

Enterprises donate some amount of revenue received as a charity. It helps in building the goodwill of the enterprise making it loved by the people. The charity helps a lot of people so it is a win-win situation for both the enterprise and people. It helps in the promotion of products remarkably.

  1. Promotional gifts:

It is a strategy where the store gives gifts like key chains or caps or something like this to attract more customers and make the customers feel important. It increases the chances of customers coming to their shops.

  1. Organizing contests:

Enterprises organize various contests to attract customers. They have prizes both in cash and kind. It works wonders for an enterprise in getting popularity and fame. It becomes a sort of social event and if organized creatively, it increases the chances of future purchases.

  1. Items on display:

The items that are put on display window are more likely to get purchased as those are the items a customer notices first and might buy them on an impulse. It proves to be a very useful and helpful strategy.

  1. Incentives:

Brand promotion and its importance

An enterprise gives various incentives to its customers to retain them. Incentives can be in the form of coupons, vouchers, discounts, referral codes, etc. These attract a lot of customers. The enterprise gains a lot more customers when they are providing incentives compared to the times when there is no incentive because customers look at incentives as a way of intelligent buy.

  1. Influencers and Celebrities:

Collaborating with influencers and celebrities helps in gaining customers remarkably. These influencers and celebrities have a huge fan following and their fans tend to buy the products suggested by them. So, a brand can collaborate with them and have their products promoted and advertised. Since the fans of such people have huge faith in them, they buy the products in an instant. It increases sales very effectively.

  1. Online brand promotion:

By publishing content like articles, blogs, short video content on the various platforms to attract customers, one can do online brand promotion. By creating an account for the brand on various social media platforms one can promote their brand online. It helps in building brand credibility.

Brand promotion is very much required for an enterprise’s growth. In a way, the backbone of marketing is brand promotion. It makes the people aware of the brand’s existence and hence appealing to them. An enterprise must put their heart and soul in promotion strategies and then carry them out very efficiently. Brand promotion not only helps in making good relationships with customers but with other businesses as well. Brand promotion in a way also helps the enterprises to have a look at their competitors’ strategies and in turn, give them an opportunity to create something better than their competitors.

Brand promotion and its importance

The brand promotion also provides enterprises with a space to learn and grow. They can compare all of their strategies and then see which one seems to be working and which does not. After having a thorough look at it, they can then make changes according to the demand of the market and increase their sales. Brand promotion is absolutely an amazing thing for marketing. All the enterprises must and must invest wisely and properly into brand promotion if they want to be successful.

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