Running promotion for different markets requires a business to promote its products in different way.
The relative significance of the promotional methods used in consumer markets and industrial markets is likely to vary substantially between these two types of markets.
Promotion for consumer markets
Consumer products which are goods and services sold to final consumers who are individual customers like you and me require intensive promotion.
Here, the individual consumers purchase daily goods.
Consumer products have shorter Product Life Cycle (PLC) than industrial products. Many consumer products are affected by technological change, and products affected by technology have shorter life cycles.
(!) CHOOSE Above The Line Promotion (ATL): Mainly mass communication promotional campaigns will be used together with consumer sales promotions. The intended purchaser of consumer goods is much more likely to refer to broad advertising in commercial TV channels, radio stations or national newspapers. The point-of-sale displays in shops for consumer goods are used to display and explain the range of products on offer.
Mass communication informs consumers faster.
Promotion for industrial markets
Industrial products, or producer products, which are goods and services sold to industry, or other businesses to be used in the production process, also need promoting.
Here, the firms purchase expensive equipment.
Industrial products have longer Product Life Cycle (PLC) than consumer products. Many industrial products are not affected by technological change, therefore do not have shorter life cycles.
(!) Choose Below The Line Promotion (BTL): Mainly industry-focused promotional campaigns will be used together with trade promotions. The intended purchaser of industrial goods is much more likely to refer to targeted advertising in specialist industry magazines or trade journals. Trade fairs and industry exhibitions are often used to display and explain the range of products on offer.
Personal communication informs buyers more effectively.
While most of the references made so far concern promotion of consumer products in consumer markets, producer products in industrial markets also need promoting.
