If you have a product (or) a commodity (or) a tool that solves a specific problem in the world, then you need product marketing. Imagine having a technology that would solve world hunger and no one knows about it. I understand it is a stretchy imagination. But you get the point.
Having a killer product that you think might work is one thing. But, creating product awareness among consumers will only generate sales. Hence, It is mandatory to have product promotions
Types of Product promotions
- Flyers and Banner
- Product placement
The printed news used to be a major means of promotions back in the day and is also found these days. One example is The Time of India newspaper, a top newspaper brand: yet a famous one for the advertisements. Newspaper agency rents out certain columns of the papers for rent.
A typical type of audience: Millennials get their news from the internet and so they don’t go for printed news. So, Newspapers are a good platform to target people aged greater than 45 years of age.
Headphones and speakers are very prevalent these days. Car users (or) people who commute to work use headphones and speakers every day. One might argue that people use YouTube or other audio streaming sites to listen to songs and Radio is already outdated. The reality is otherwise. People listening to a podcast is an example. Even though everyone wants a non-stop song playing service but for a daily commuter, they would prefer someone to talk at least a little bit. Hence most of the small and large scale businesses prefer the aforementioned way of product marketing.
So, yeah, a cheap and yet efficient way to create product awareness.
There is not much explanation needed with regards to TVs and their advertisement platform. Televisions channels sell advertisement space during intervals. The charges are more based on the number of viewers that tune in at the time of the day. These are getting out of phase as people are rapidly moving towards online streaming services
Flyers and Banners
Flyers are a form of a paper advertisement for wide distribution. Focused mainly on spreading awareness in a locality, it provides focused and maximum reach. The printed advertisements are spread by handing out to individuals in a public place.
The banner can be a cloth or flag carrying logo, messages, and (or) slogan. The cloth is hung on wooden if not metal frame and is either carried in hand during processions are made as a fixed unit. The fixed unit is kept in a place that has high visibility to people who go through that locality.
This modern advertisement method is ever-growing and evolving. In the traditional way, they promote by making consumers buy 1 product (marketing works here) and give them a different product for free. Also, we have witnessed one product carrying the label of a different product. In movies and TV channels, we have seen our favorite character prefer certain brands over the other, thus creating a sub-conscious memory that the product is better than the others.
Thus, marketing is all about creating a subconscious impression of a product. So, if when the consumer comes across the problem or the product, they would remember to try out the product. Better marketing team which makes better impression get more conversion than their competitor.