Brand promotion is that element of marketing mix which is designed to inform, remind, persuade and influence the customers so that they purchase the advertised brand.
The main objectives of brand promotions are:
- To Promote Information: The firm provides the relevant information about its various brands offered in the market. Information relates to features, prices, special schemes, etc. of the brands.
- To Differentiate the Product: Another main objective of brand promotion is brand differentiation’ which means convincing the customers about the unmatchable features or merits of the particular brand. For example, Dangote cement differentiated its cement product from other cement brands by rolling out the 42.5 higher cement grade into the Nigerian market.
- To Increase Demand: brand promotion efforts aim at stimulating demand for a product. They persuade customers to buy more and more of the product so as to increase its sales and market share.
- To Build Brand Equity: Brand equity means the power and value that a brand adds to a product. The utility of the brand is emphasized. Status oriented advertisements highlight the value of the brand and pride in its ownership. For example, owning an Apple product or a Rolex wristwatch. The brand value of this product justifies its higher prices.
- To Stabilize Sales: Seasonal, cyclical and other fluctuations in demand affect sales. Brand promotion efforts seek to stabilize sales by minimizing the impact of such fluctuations. For example, Cadbury promotes its Bournvita brand during Ramadan to increase sales.
- To Offset Competitors’ Marketing Efforts: In a highly competitive market, even a well-established brand has to be promoted to retain market share. For example Nokia and Samsung Mobile keep on repeating their advertisements for their own brand of smartphones so as to offset each other’s efforts
- To Build Image: Brand promotion is also aimed at creating a positive image of the company offering its brand in the market. A company can build its brand image by offering a quality brand and good customer service all at a reasonable price.