The aim of this assessment is to discuss concepts that relate to promotional strategy and their use within those strategies. Promotion reinforces the value of the product. If promotional strategies successfully reinforce the products value to the consumer, suppliers can expect to see the efficient use of their marketing resources translated into sales and profit. Firstly, lets us discuss the concept of Push and Pull marketing strategies.
Push marketing is a strategy whereby you develop advertising and promotional strategies geared toward your marketing and distribution channels to entice them to promote your product. As a consumer, you would rarely see this type of marketing because it is directed at the distribution channel. It might include wholesale discounts, kickbacks, bonuses, and other types of support. It's all designed to have the retailer promote your product to the end users instead of your competitors product. There are differing types of push marketing, some new as discussed below:
“In recent years, I've seen a nearly exponential increase in the past decade - another type of push marketing is taking over. It's the referral and word of mouth marketing. When companies encourage happy customers to spread the word to their friends and families, that's a type of push marketing. Or, when companies make ads that are controversial, cheeky, or downright shocking, they create a little buzz - that's another type of push marketing.1
With a Pull strategy, the consumer is targeted. This strategy calls for high spend on the advertising and consumer promotion to build consumer demand. If this strategy is successful, consumers will actually go to the retailer demanding a particular product and brand. The pull strategy is all about bringing the cus ...