Promotions keep the product in the minds of the consumer while helping to stimulate the demand and ultimately, motivating them to purchase the product. Strategic product promotions will drive awareness, trial/sampling and new usage occasions. The key strategic foundations for brand growth are to understand consumer needs in order to satisfy them. In addition, focus communications within channels that meet primary target consumer and increased brand image, superior quality attributes and leverage brand for strategic product initiatives. Use strategic product promotions to drive awareness, trial/sampling and new usage occasions. There are many promotions that we have identified and have listed a few that have a proven success rate:
Today brands are born, not made. A new brand must be capable of generating favorable publicity in the media or it won’t have a chance in the marketplace. What others say about your brand is so much more powerful than what we can say about it ourselves. In addition, the best source to recommend a brand is from a company that benefits from the brand or product. The specific process is based upon the fact that consumers tend to allow their attitudes and/or perceptions to be molded by third parties. These third parties are called opinion leaders. Once identified, we can begin the process of soliciting the endorsements of these opinion leaders who will in turn impact the attitudes/perceptions held by your target audience. There is no more effective or efficient way to build a brand/position a product, service or company when this approach is executed properly.
Developing an effective advertising plan requires that consideration be given to budget, competition, customers, advertising vehicles (TV, Print, Internet, Mail, Direct Response, etc.) and consistency. We will include advertising expenditures of 5-10% of gross sales. The point is to put something in the budget to reach potential consumers as well as support the brand from the perspective of our customers (retailers)…keeping in mind that whether we are advertising to our consumers or not, our competitors are.
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We live in an instant age of gratification. Not surprisingly, POP, with its ability to impact the consumer while in the store at the moment of decision has become a more important role of the marketing mix than ever before. While advertising and public relations may serve our branding objectives, POP is a “CALL TO ACTION” to the consumer at the point in which they are most interested. Retailers are looking for every possible advantage and an eye catching POP display can give them the opportunity for a sale that they might not otherwise make.
The most important criteria used by retailers in deciding whether to accept or reject a POP display is whether or not it involved a new product introduction. Many retailers have limited space and might have all the POP they can use, but POP created specifically to support a new product launch is important to everyone. All parties concerned have money tied up in the new product and everyone wants to be successful.
POP is not just displays, but a wider variety of printed material that communicates the products’ message at the point of purchase. Besides pallet, floor stands, wing racks and counter unit displays, there are shelf talkers, product hang tags, shelf signage, ceiling signage, floor signage, inflatable signage, video end caps, check out signage, window banners, in store flyers, table tents and informational pamphlets with instant redeemable coupons…all vying for the attention of the time starved consumer, who views close to 1,000 items per minute during their 24 minute on average shopping trip.