Advertising and promotion strategy
Businesses that provide services or products to customers must continuously find ways to pull customers in. For that reason, they use a number of pull and push strategies. One push strategy most often used is the promotional strategy. This involves offering some kind of discount on a service or product for a limited time period. Customers who are in need of that service or product, or who have a desire to try a product or complete a task, may feel the urgency to take advantage of a special deal while they can (Joseph, 2013; Shimp, 2010). The promoting of this urgency is referred to as the build demand strategy. The promotion builds a demand or sense of urgency in potential customers. This kind of promotional campaign can also focus on highlighting a company’s desirability of their product over another company’s rival product (Joseph, 2013). In addition to the push strategy, companies often use the pull strategy to increase the demand for their product. Unlike the push strategy, the pull strategy is designed to focus on consumer enthusiasm for a product not yet stocked in stores. By advertising the product, the company increases the customer’s awareness of the new product. In turn, the customer seeks the product at various stores. The stores that do not already have the product will endeavor to order it so that their customers remain content to shop with them (Joseph, 2013; Ferrel & Hartline, 2011). Businesses depend on long-term and short-term strategies to build their band names and, thereby, their profit margins (Onkvisit & Shaw, 2004; Hose, 2013). However, ongoing strategies are needed throughout the life of the business. Otherwise, consumers are likely to forget about them as other businesses become more competitive and aggressive in their own marketing strategies. Still, ongoing marketing strategies are very expensive. They include media advertising, such as television, radio, the Internet, and print based. They can also include coupons and electronic communication such as text messages and email. In addition are in-store displays, posters, and bulletin boards. Even signs on vehicles are used to advertise products and services. The point is, businesses must utilize advertising strategies if they are to be successful.References Ferrel, O., & Hartline, M. (2011). Marketing Strategy, 5th ed. Mason, OH: Cengage. Hose, C. (2013). Difference between Advertising Strategy & Promotion Strategy. Retrieved 1 March, 2013, From http://smallbusiness.chron.com/difference-between-advertising-strategy-promotion-strategy-20977.html Joseph, C. (2013). Advertising & Sales Promotion Strategies. Retrieved 1 March, 2013, From http://www.ehow.com/list_6513656_advertising-sales-promotion-strategies.html Onkvisit, S., & Shaw, J. (2004). International Marketing: Analysis and Strategy, 4th ed. NY: Routledge. Shimp, T. (2010). Advertising, Promotion, and Other Aspects of Integrated Communications. Mason, OH: Cengage.