Answer to Question #278157 in Marketing for Grace

Question

Explain five factors that should be considered when promoting a product

Answer 1

Factors considered when promoting a product include;

Type of Product

When it comes to choosing a promotion mix, the type of product matters a lot. Branded products, non-branded products, need products, luxury products, new products, and so on are all examples of product categories. Different promotional tools are required for each of these categories of items. Advertising, for example, is appropriate for branded and well-known items. Non-branded products may be appropriate for personal selling. For a freshly launched product, advertising, personal selling, sales promotion, and publicity — all four methods – are employed to gain rapid consumer approval.

The use of the product

Product can be an industrial product, a consumable and necessary item, or a luxurious one, all of which influence the promotion tools and media used. Advertising and sales promotion strategies, for example, are commonly utilized in the consumer goods industry, whereas personal selling is used in the industrial goods industry.

Complexity of the product

The choice of promotional tools is influenced by the complexity of the product. Because sophisticated, technical, dangerous, and newly developed products require human explanation and inspection, personal selling is more effective. Advertising, on the other hand, is better suited to things that are basic and easy to handle.

Purchase quantity and frequency

When selecting on promotion mix, the company should also consider purchase frequency and quantity. In general, advertising is utilized for regularly purchased products, while personal selling and sales promotion are favored for infrequently purchased products. For heavy users and light users, personal selling and advertising are used.

Level of competition

Promotional efforts are tailored to the competition's nature and intensity. All promotional tools are designed to safeguard the company's interests from competitors. The intensity of promotional activities and the methods used to promote them are determined by the amount of competition.