Introduction
In the recent past, there has been increasing need by businesses to promote their products. This can be attributed to the fact that there has been increasing competition between companies. In order to inform prospective consumers of the existence of a new product, persuade consumers that the product is still efficient and to remind consumers of the existence of the product, product promotion is necessary. In this essay, I provide an in depth discussion of the emerging trends in product promotion.
Emerging trends in product promotion
With the introduction of the Internet, most businesses have created websites where they nast their produets for consumers to view them Internpt marketina has gained soonbrity due to post their products for consumers to view them. Internet marketing has gained popularity due to increasing access to technology and computer networks in addition to internet service providers. In this sense, product promoters are able to promote their products efficiently through the Internet (Hanson & Kalyanam, 2017).
Moreover, most product promoters due to their need to have a lasting impression on the customer have intensified personal selling. Moreover, businesses have also intensified this method of product promotion due to the ever increasing competition. This method of product promotion boasts a great deal of advantages ranging from more flexibility, to giving the seller the opportunity to demonstrate the operations and use of the product. In addition, it provides the seller with the opportunity to establish interpersonal relationships which may bring about a repeat purchase (Weitz & Bradford, 1999).
Furthermore, companies are now taking advantage of the ever increasing popularity of mobile phones to promote their products. Mobile phones are being used to send short messages urging prospective customers to buy products offered by firms at attractive prices. This method of product promotion is of great value to the producers as it results to increased sales (Bauer, Reichardt, Barnes, & Neumann, 2005).
In addition, most businesses are now using email marketing procedures in order to drive sales up. This method involves sellers collecting information about prospective customers (usually email addresses) and then sending them email messages about the products they are offering and any sales promotions that they might be having at the time. The customers are able to access this information from their respective email accounts. This is one of the most widely used method of product promotion that goes hand in hand with internet marketing (Sterne & Priore, 2000).
Moreover, other businesses are also adapting the use of promotional convoys as a technique of product promotion. This involves a group of people moving from one place to another in open vehicles playing music and, dancing in order to attract prospective buyers. In addition, the promoters may provide gifts, free samples and even explain how certain products work. They might as well sell the products at subsidised prices to attract more sales.
Conclusion
Conclusively, businesses are becoming more creative with the methods of product promotion that they employ in order to cope with increasing competition. As a result, the business world has a lot to offer in terms of new and emerging trends in product promotion. Such trends include promotional convoys, social media marketing, email marketing among others.
