Promotion strategy: relevance and elements

The sphere of marketing is quite new in the domestic business market. For this reason, many of its processes are not given due attention. So, for example, the issue of promotion is rarely given a significant place. Most of the executives who took over the reins of government under CCCP simply do not understand why spending time and money on activities that they do not see as promising. But in fact marketing is much more important, and if properly used, it can significantly improve the performance of enterprises.

Promotion: what and how

Promotion of goods is one of the main activities of all companies of developed countries, without exception. It is the correctly chosen promotion strategy that provides the company's leading position in the consumer market. And this is important.

We can say that marketing promotion strategy is a plan to effectively increase the sale of goods and services. Such activities require certain research and preparation. Often they are implemented by a whole group of marketers of different specializations. The strategy of promotion shows its effectiveness through the prism of the economic performance of the firm.

Development of promotion strategy

The product promotion strategy should be part of the company's planning. As is known, each firm regularly carries out strategic and tactical planning. These activities involve the creation of long-term or short-term plans with the distribution of responsibility of each department and direction. Also during the planning determine the budget for all sorts of activities.

The promotion strategy requires its development, budget and planning. The budget can be allocated according to the residual or target principle. Residual provides for the allocation of funds, depending on what remains after the development of all other plans. Of course, this method of budgeting is the most economical, but the results from it are much less.

Targeted budget education seems to be the most effective financial solution for marketing activities. With this method, finance is allocated to specific projects that contribute to the achievement of the company's goals.

Effect from promotion

When developing a quality promotion strategy, the result can exceed all possible expectations. It is important to take into account the fact that to buy your goods, the buyer is not just an economic stimulus. Each client should understand that he is acquiring a product that will correspond to his image and style, position in society and personal beliefs. So, for example, the social orientation of a firm often aims to win a certain market for customers who are not indifferent to the problems the firm is allocating funds for solving.

In any company, the sphere of marketing and promotion can be both an unprofitable element and a department that brings huge profits. Everything depends on the attitude of the management to this department and its activities.