In nature, evolution occurs most rapidly when competition for resources is intense. The same process is now occurring with promotional media. All traditional media channels are now saturated, and competition for consumer attention is intense. At the same time, the impact of any one medium is becoming diluted. There are many more TV and radio channels, consumer have the ability to skip adverts and free information is now much more accessible. As a result, companies are becoming increasingly innovative in their approach to communications and a host of new media channels have emerged. As a result, media choice is becoming a tricky task, which is why detailed segmentation is so important - it's no use starting a Twitter campaign if none of your target market are regular users of the site. Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand. Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product's value to the customer. From a societal point of view, marketing is the link between a society's material requirements and its economic patterns of response. A Brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and the differentiate them from those of competitors. Sales Promotions are inducements or gimmicks whose purpose is to encourage the purchase of a product/service immediately. Unlike advertising, where the objective is usually to influence long-term buying behavior, sales promotions are concerned with the short-term. A problem with promotions is that they sometimes cause consumers to focus more on the promotion than the product. In fact, sometimes consumers are not at all loyal to the product but are attracted to the coupon, gift, or rebate. Promotion is one of the key elements of the marketing mix, and deals with any one or two-way communication that takes place with the consumer.
Sales Promotions, Consumers, Product, Marketing, Brand
