Promotional marketing is a balanced combination of strategic activities, giveaways, presentation, and the right timing. The goal of promotional marketing is to increase your company awareness in the marketplace. Promotional Marketing includes branded gifts that usually tend to increase response rates and the overall effectiveness of your other marketing programs.
Promotional Marketing is gaining a lot of popularity in India recently. This has been noticed especially in the case of the fast moving consumer goods segment. The price wars started out between the two FMCG giants HLL and P&G. These price wars have further led to promotions that have almost become a norm in the industry. Another segment, which is seeing a lot of promotional marketing in India in the recent times, is the consumer durables industry.
Most times than not, the initial perceptions that are formed by the customer of your company often involves a promotional marketing item. A t-shirt that is branded with your company logo might very well be the first perception that a prospective buyer has of your company.
A prospect might just pick up an item of promotion at a tradeshow, view it on a co-workers desk, or receive it in the mail. Therefore, there are a few important factors to be considered when defining the promotional marketing item to go with your promotional campaign.
The very first and most important step to choosing the right promotional marketing strategy requires understanding your target audience. It is important to find out whether your target customer will enjoy a stuffed toy, or might he/she enjoy something that can be used on a daily basis like a pen.
Knowing how the target customer spends the time during the day can greatly influence the type of promotion item that you consider and how well the promotion performs in the promotional marketing activity.
Promotional marketing can also be defined as a business marketing strategy that is designed to stimulate a customer to take action towards a buying decision. Promotional marketing is a technique that includes various incentives to buy such as the ones listed below: