Promotional strategies Essay
Promotional strategies are very important to any profit making organization hence it is vital for these organization to adopt the effective and efficient promotional strategies. Superiority of the product does not matter much as it cannot sell itself without these promotional strategies. It is good for an organization to give customers paramount information about the products and service that the company offers so as to enable them make autonomous decisions. Promotional mix is the way companies communicate features and benefits of their products and service to potential customers. It is essential for a company to select the right promotional strategy in order to:
– Capture the attention of the right group of potential customers
– Educate the about company’s products and services
– Influence these potential customers to buy your products
A promotional mix is distribution of funds amongst five most important rudiments which include advertisement, public relations, sales promotions, direct marketing and personal selling. One of the international companies which have adopted right and efficient promotional strategies is Harley-Davidson Company.
Advertising- Any paid form of media communication. Harley-Davidson Company has been doing much in this area to market its products and this has enable the company to sell most of its product hence gaining competitive advantage over its competitors. The company is selling itself through trade journals, newspapers across the globe, radios and TVs and more so in the website and billboards. Advertising helps the company to introduce new products in the market, new applications and new features.
Sales Promotions- In this case, the company in-store demonstrations, contests, displays and price incentives such as 20% off, buy-one-get-one-free. All these are kind of sales promotion techniques employed by many companies to attract more customers. In relation to this, Harley-Davidson Company has adopted this promotional strategy effectively since it has been able to sell its products more than its competitors. The company usually do this whenever there is a product that is facing poor market growth i.e. product at the end of the cycle (Kotler, 1996).
Public Relations- With efficient public relations, Harley-Davidson has increased the volume of sales through favorable, nonpaid media coverage. Public relations support positive constructive image, generate publicity and cultivate goodwill with the objective of making more sales. The company can also improve its public image by hosting events that are that are of great importance to the society (Kurtz, 1998).
Direct Marketing- This form of strategy enables the company to have direct communication with the target customers in a more modified way than billboard. Harley-Davidson Company has adopted telemarketing, direct mail, catalogs and so to capture the potential customers in more personalized way (Kotler, 1996).
Personal Selling -Is one of the most efficient promotional strategies since it enhances relations between consumer and seller. This technique enables the seller to listen to and draw clear conclusion about consumers needs. Harley-Davidson Company has done this successfully through establishment of customer care centre. This has generated a long lasting relationship between consumers and sellers of the company hence it has attracted and maintains more customers as compared with its competitors.
Harley-Davidson Company has had competitive advantage over its competitors due to the fact it has employed this promotional strategies effectively. The company is growing rapidly because it has established good relationships with the customers.