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Not just Steps but an Escalator is what you need for your Brands!
The knowledge that has been derived from the Indian customer is that it is promotions that drive him to buy a product and not just advertising, which otherwise has been quite successful in other countries.
Brand Elevation is a must
In today's world every businessman is constantly planning strategies to increase it's sales. Brand awareness is the strength of a brand's presence in the consumer's mind and promotion is the best tool one can use to boost it's product up. Though it is a short-term incentive to encourage purchase it has served to be effective implementation that builds up the company's market share. Some popular promotion schemes seen lately are win a tour to Singapore, 20% extra in a tube of toothpaste or scratch the card and win a prize etc. There are also exchange offers like old TV for new one etc. Also one comes across summer sales and winter collections. These incentives may also be in a form of discounts coupons, free samples, contest etc. All these measures normally have been seen to increase the sales of the product. Promotions induce customers to buy a product more frequently thus helping the product build it's own brand loyalty. Some entrepreneur are also of the opinion that with the recession in the market continuing, the companies see promotion as being immensely helpful in sustaining them in this tough period.
Also the consumer durable sector has taken a plunge into this promotion sector for effective sales of their company. Only recently in the Diwali season, Samsung India launched the 'Phir Se Phod ke Dekho' consumer promotion scheme. The Phir Se Phod ke Dekho promotion came packaged as a coconut, which the customer picks on the purchase of a Samsung product. On breaking the coconut the customer was to get a 10 gm silver coin and a chance to win a premium gifts. Similarly Philips India has launched its ' Diwali Manao Inaam Pao' offer whereby, on the purchase of a CTV, a consumer is given a scratch card which entitles him to win a host of prizes. Not only the consumer durable market but also the liquor companies, FMCG market and many other industries are on a drive for promoting their product. Many liquor companies are coming out with events like drink and drive races where if you win you get their product in form of a prize or the Polo, Golf and McDowell Indian Derby which more than sports are a way of life that is sophisticated, genteel and driven by success.
Brand for Brand Promotion
The Indian customer wants more tangible benefits for his money rather than just hot air. So in order to gain competitive advantage over their rivals, companies are better advised to develop suitable promotions for their customers rather than just relying on advertising. Another promotion trend seen in the new era is the cross promotions that also help the company in offering the customers a chance of using other products of the same company or another company. This cross promotion helps the company in promoting other product of theirs to their regular users or sometimes product of other companies with whom they have tied up. As a result the customer is bound to get tempted to buy their product as in return he is getting two brands out of which one he gets to use absolutely free. Colgate-Palmolive's price discounts and consumer offers include cross-company offers like 100 gm Colgate toothpowder comes with a 24-carat gold-plated pendant. LG also offers gift hampers like discount coupons on LG microwave ovens and vacuum cleaners on selected models, even Voltas has also recently come out with their promotion scheme of ' Voltas AC Lao Tata Indicom walky free mein le jao' offer etc. This kind of promotion is very beneficial as it increases the volumes of sales and sometimes also helps to introduce new products in the market.
Promotion in any phase may it be in schemes like welfare schemes, rebates, freebies, cross promotions or events like worker welfare promotional events or many business PR programs etc done by FMCG companies, Liquor Industries, Pharma Industry, Service Industries and many more for direct consumers or even if they are incentives for dealers like fat discount for bulk quantities, free gifts if they exceed certain quantity limit etc helps in boosting the brand and motivating the purchaser to buy more such goods. One always has to think that whether we are dealing with big or small, the famous or the lesser known we cannot do without promotion. |
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