For a company to introduce its product to the market competitively, it is essential to develop an effective strategy embracing planning, production, and sales. Marketing specialists working for an enterprise should address multiple points in brand-building to ensure a positive perception of a product by consumers. Therefore, competently developed advertising programs and sales promotion decisions contribute to effective brand-building, which improves a firm’s success and enlarges profit.
Advertising is a crucial element in marketing that predetermines the overall outcomes of the campaign. According to Kehinde, Ogunnaike, Akinbode, and Aka (2016), advertising is “one of the promotional tools amongst others which organizations use in communicating their product to target customers” (p. 2). The successful program includes several steps, which should start with the mission statement.
This first step identifies the objectives of advertising, for example, to present a new product to the customers. The following steps embrace money or the financial component, as well as message generation, evaluation, and execution. Next, the advertising developers should think of media or the place where the message about the product will be placed (Kehinde et al., 2016). Finally, the measurement stage completes the advertising program development process and aims at the evaluation of the outcomes.
Another critical procedure predetermining the success of an enterprise in a highly competitive economic environment of the modern world is sales promotion decision-making. To enhance the volume and speed of sales, a firm should develop a sales promotion program based on accurately made decisions. Establishing effective communication with potential consumers is essential. The analysis of preferences and reactions to the previously carried out programs should serve as a platform for promotion decision-making.
It is also important to evaluate the demand for the product on the market, the time when the sales are planned, as well as the quality and amount of products introduced by the competitors. Being effectively carried out, a sales promotion campaign positively influences the perception of the product by consumers and guarantees a connection with the target population in the future (Hilman, Hanaysha, & Ghani, 2017). Therefore, sales decisions should be made by accurate analysis of the current market and the expectations of the customers.
Both advertising and sales promotion contribute to brand-building and establish multiple advantages for a company. Brand as a “customer experience represented by a collection of images and ideas” is delivered to people through specifically organized events and experiences (Rashid, Cohen, & Ghose, 2018, p. 106). There might be several guidelines addressing the effectiveness of brand-building events and experiences introduced for enhancing firms’ performance.
Firstly, a company has to define its brand as its unique specialization (Rashid et al., 2018). Secondly, it is important to attract the target audience, ensuring the reliability of the product. Thirdly, the relationships with the clients should be established on the basis of the value and potential benefits that a brand proposes (Rashid et al., 2018). Thus, the promotional events and experiences of the brand should contribute to the customer’s favorable perception guaranteeing a promising reputation of the firm for its future success.
In conclusion, a competitive modern marketing world sets high standards for the participants, thus encouraging enterprises to contribute to their brand-building programs. To make a profit and enhance demand for the product, a company needs to develop an effective advertising program and accurately formulate sales promotion interventions in order to ensure a positive perception of the brand by the public. Thorough implementation of main guidelines for effective brand-building guarantees the company’s success and competitiveness in the market.
References
Hilman, H., Hanaysha, J. R. M., & Ghani, N. H. A. (2017). Analyzing the relationship between advertising and sales promotion with brand equity. Asian International Journal of Social Sciences, 17(2), 88-103.
Kehinde, O. J., Ogunnaike, O. O., Akinbode, M., & Aka, D. (2016). Effective advertising: Tool for achieving client-customer relationships. Researchjournali’s Journal of Media Studies, 2(1), 1-18.
Rashid, S. M., Cohen, D., & Ghose, K. (2018). An exploration on the process of brand identity building in the context of Malaysian cafe. Jurnal Komunikasi, Malaysian Journal of Communication, 34, 105-120.