Marketing Communications (MarCom)
Promotion is one of the four “P’s” of the marketing mix and is typically handled within the MarCom group. Promotions are designed to stimulate demand and generate sales leads. Unfortunately, in many high-tech companies, promotions are often overlooked, or executed so poorly as to be ineffective.
For example, a company creates an ad, but it doesn’t follow the “direct response” format, so readers are not converted into sales leads. Or, a company submits a product to a publication for review, but they don’t have a reviewer’s guide, nor do they know how critical it is to follow-up, so they lose the review to a technically inferior but better “positioned” product.
Field of Dreams Marketing
Sometimes a company creates a cool product and then doesn’t promote it at all—so the market doesn’t even know the product exists, nor do they know how it can meet their needs (the “field of dreams” marketing mentality). Later, the competition swoops in with an inferior product, but an effective promotional campaign–recruits all the resellers, educates the customers on the category, gets the leads (converts them into sales) and wins the market. By the time the cool product company finally “gets it,” the biggest battle is already lost.
One of the main reasons for “not promoting” is a lack of understanding about how to measure and manage the return on investment (ROI). Unfortunately, too many marketers, who don’t track/measure/squeeze and beg for every drop of ROI, have proliferated this concern. For this reason, each proposed promotion within this section has a defined tracking approach to reach an acceptable ROI.
Within the promotional segment, we outline the recommended PR, Online Marketing, Advertising, Direct Marketing, Channel and Event Marketing approaches to position the product, increase our selling capability and increase market share.
Marketing Communications Topics
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- Public Relations
- Direct Mail
- Trade Shows
- Positioning (in Product Management)
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