Brand promotion is the way to inform, remind, persuade convincingly, and influence the consumers to drive their decision towards purchasing the product or service under a brand. Marketing force of a company conducts brand promotion primarily, though the wholesalers and retailers also can do it.
Why is Brand Promotion Required?
Brand promotion is required to −
● Promote information related to features, prices, and special schemes of the brand.
● Differentiate the product by convincing the customers about the unique features of the brand.
● Create and increase the demand for the product.
● Build brand equity.
● Stabilize the sales affected by natural, social, or political changes. For example, Nescafe promoted its new brand of ‘iced coffee’ to increase sales during summer.
● Outperform the competitor’s marketing efforts: In a highly competitive market, even a well-established brand has to be promoted to retain market share. For example, Coca Cola and Pepsi work to nullify each other’s efforts.
● Build positive brand image.
