You might have the best product in the market, but without people being aware of that product, there are going to be no sales. You see? That is why, having a product that is of the highest quality is not the only important factor, but the ways in which you promote the product is also just as important. Along with the regular factors that are used in the promotion of a product, one very crucial factor is that of brand promotion as a means of product promotion. The brand forms the identity of a product or service. It is classified as having a distinct name, symbol, logo and a catch phrase (ideally). For example, Adidas is a brand, whereas the shoes, clothes and other items, are the products that fall under this brand.
The sale of products largely depends on the brand name, and the trend that has been noticed is the way in which the brand influences the sales of a product. In that direction, it becomes important to learn varied brand promotion strategies so that these can be applied to promote sales in business and service as well as to create a name in the market.
Brand Promotion Objectives
It is not merely with an objective of increasing sales that strategies for brand promotion are brought into play; there are varied other factors and objectives that drive the same as well. Brand promotion will lead to awareness about the varied products that fall under that brand as well as ensure customer loyalty.
It has been observed that a promotion of the brand leads to a direct promotion of the varied products as well. In that way, companies do not necessarily have to advertise and promote each individual product, but an overall promotion of the brand will lead to a promotion of the products automatically. Which is why it is seen that famous brands are more popular and ensure more sales than lesser known brands. It has also been observed that customers who become loyal to a particular brand will generally opt for the same brand and the products that fall under it.
Thus the main objectives of brand promotion are as follows:
- Dispelling information about the varied brands
- Making the public aware of the factors that differentiate the brand from others
- Strategies to increase the demand of the brand
- Establishing brand equity (The power of the brand adds to the product)
- To stabilize sales to survive market fluctuations
- Eliminate competitive companies' marketing strategies
- To build a good image in the market.
Brand Promotion Methods
While there are several direct, 'above the line' advertising strategies that are used, which bring about positive results, there is also the emergence of 'below the line' advertising that has become an important factor in the marketing circuit. Above the line advertising includes factors like advertising on TV, radio, newspapers, through pamphlets and similar. Of these, we are aware. But there are those methods that make use of an indirect way of advertising and brand promotion - that being the usage of certain brand promotion activities and techniques. These are the following.
Sponsoring Events: Sponsoring social events is a great way to promote a brand. Equating brands with a good cause, automatically lends a positive vibe to the brand.
Offers, Discounts and More: Offering discounts, offers and in-store demonstrations of the several products associated under a brand is a grand way of ensuring not only an increase in sales, but also in harboring a positive image in the eyes of the society.
Public Relations Events: Public relations is a branch of promotion that employs indirect ways of bringing about advertising. For example, let's say the brand is Huggies and they hold a competition to find out who is the most photogenic baby. It might seem like the two events are unrelated, but they are anything but. The brand has been able to spread goodwill in the general public and thereby promote their brand.
Associating with a Good Cause: Associating with a good cause creates a positive image in the eyes of the society. This positive image then carries forth to lend the brand a good name.
Coupons and Contests: Giving out free coupons and holding contests works in the same manner as that of spreading goodwill.
High Quality Products: Another way in which you can ensure brand promotion is to have only high quality products as a part of the brand. High quality products ensure that there is mouth publicity. This form of publicity makes a maximum impact in the general public, it has been studied.
A review of these brand promotion strategies will have provided you with the kind of factors that are required in ensuring that a brand becomes popular and thereby helps in promoting the products that fall under it. Employ these strategies and you will find yourself with a flourishing business and a greater brand name.