The field of marketing is quite new in the domestic business market. For this reason, many of its processes are not given due attention. So, for example, the issue of promotion is rarely given a significant place. Most of the leaders who took over the reins under the CCCP simply do not understand why they spend time and money on activities that they do not see as promising. But in fact, marketing is much more important, and if used correctly, can significantly improve the results of enterprises.
Promotion: what and how
Promotion of goods is one of the main activities of all companies in developed countries without exception. It is the right promotion strategy that ensures the company's leading position in the consumer market. And this is important.
It can be said that a marketing promotion strategy is a plan to effectively increase the sale of goods and services. Such activities require certain research and preparation. Often they are implemented by a whole group of marketers of different specializations. The promotion strategy shows its effectiveness through the prism of the economic performance of the company.
Developing a promotion strategy
Product promotion strategy should be part of company planning. As you know, every company regularly conducts strategic and tactical planning. These activities involve the creation of long-term or short-term plans with the distribution of responsibilities for each department and direction. Also, during the planning, the budget for various events is determined.
Promotion strategy requires its development, budget and planning. The budget can be allocated according to the residual or target principle. Residual provides for the allocation of funds depending on what remains after the development of all other plans. Of course, this method of budgeting is the most economical, but the results from it are much less.
Targeted budgeting seems to be the most effective financial solution for marketing activities. With this method, finances are allocated for specific projects that contribute to the achievement of the company's goals.
Promotion effect
When developing a quality promotion strategy, the result can exceed all possible expectations. It is important to consider that for the buyer to buy your product, the economic incentive alone is not enough. Eachthe client must understand that he is purchasing a product that will correspond to his image and style, position in society and personal convictions. So, for example, the social orientation of the company often aims to conquer a certain market of buyers who are not indifferent to the problems for which the company allocates funds.
In any company, the area of marketing and promotion can be both an unprofitable element and a department that brings huge profits. It all depends on the attitude of the management to this department and its activities.
