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Integrated Marketing Communication - Promotion
Integrated Marketing Communication (IMC) involves the entire medium which a company uses to promote its product or services or concet. It is an idea to coordinate firm's promotional efforts to achieve the best combined effects of the firm's efforts to promote its services or products. Resources are collected and allocated to achieve those outcomes that are valuable for a firm. Promotion of any product or service involves a number of mediums. The most renowned component of promotion is advertising or mostly used synonymously, but we can also use tools like:
Promotional Objectives and Effectiveness
Generally, a series of promotional events are required before a consumer will buy a product. This is called as a "hierarchy of effects." Firstly a consumer must aware from the product exists. Then he or she must be motivated to give some attention or interest in the product. Then the utilities of product should be known to customer. In the next stage, the consumer evaluates the merits of the product, whether to give a try to the product or not. A good experience generated by the product may lead to continued use.
There are two main approaches for promotion of products.
1. The "push" strategy is related to the "selling concept" and engross "hard" sell like aggressive price promotions or high discounts etc.
2. The "pull" strategy which emphasizes on creating demand for the brand so that consumers intentionally buy the product.
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