It is involves presenting the products or services to the public and how these can address the public’s needs, wants, problems, or desires. In promotion, the primary target market should be identified because it will become the main audience. A strong integrated marketing communication plan (IMC) should be devised to deliver the compelling messages effectively .
Key marketing messages for promotion can be the following: Value proposition or unique selling proposition of yhe product or service. Product or service image. Business image. Business values and philosophy.
The entrepreneur can choose one or combination of the following promotional tools: Advertising - This is a type of communication that influences the behavior of a customer to choose the product or service of the entrepreneur over the competitors. The objectives of advertising include the following: (1) informing, educating, and familiarizing the public with the product and service offering; (2) building a trustworthy image; and (3) increasing sales.
The entrepreneur can choose to advertise through the following: Television - regular channels, cable TV Radio - AM and FM radio Internet - e-mails, Web sites, blogs, social media, search engines Mobile phones - text messages, mobile applications, mobile internet Print - newspapers, magazines, flyers, directories, signage’s, posters Out-of-home - billboards, buses, bus stops, trains, train stations, taxis, street advertisements.
Selling - This is the act of trading a product or service for a price or a fee. The entrepreneur must identify the target customers who will likely buy the product or service
Sales promotion - These are short-term promotional gimmicks wherein practical incentives and appealing activities are incorporated to entire the customers to buy the product or avail of the service. These are also called “below-the-line” promotions. Here are common examples of sales promotions in the Philippines: Sales discounts or discount coupons Contests and games Advertising specialties (e.g., pens, notebooks, umbrellas, bags, calendars) Rewards (e.g., reward cards) Promo items Raffles Product or service bundles
Public relations - these are image-building initiatives of the entrepreneur to make the name of the business reputable to stakeholders, such as the target customers, government agencies, business partners, media, and the public. Examples of PR strategies are as follows: Press conference Strong media relations through press kits Social responsibility events (e.g., charitable community or community events) Lobbying (e.g., good relationships with government officials) Web public relations (e.g., blogs, socialmedia , e- mails,word -of-mouth) Launching events