To wrap up my series on the four P’s of marketing, I want to discuss the final “P”: promotion. Promotion deals with exposing your target market toyour company’s products or services in an organized, efficient and creative manner. A combination of marketing methods can be used concurrently to bring your product to a place where consumers can easily find it.

Here are some tools you might want to use in promoting your company’s products or services:

• Advertising – The more visible your brand, the more your product can build that relationship and trust with customers. Consistency in the game of advertising speaks volumes, especially when it comes to creating brand loyalty. 
• Public Relations – You can actively participate in the community by creating press releases about your company and its product. Having a well-structured public relations plan allows consumers to have greater access to information and better interactions with your company. All of this becomes critical in getting your message out to the public. Your choice to become a community partner can and will make a difference for consumers when it comes time for them to choose between you and your competitor.
• Marketing communications budget – Your marketing budget should be evaluated after an in-depth cost and break-even analysis. This is when you decide which media outlet will be most effective in communicating your message, whether it is print, broadcast, radio or Internet.
• Sales strategy – Your company sales strategy will determine what type of sales force you need, if any. This includes defining your point of sale and how to promote it.

Remember that one of the most important tools in promotion is word of mouth; the more customers who are satisfied with your product or service, the more opportunities you will have to actively promote it.

The four P’s of marketing – price, product, place and promotion -- are all essential parts of a marketing plan and getting one wrong can harm the entire mix. Start working on your plan now, and keep in mind that your initial approaches are not set in stone but are living ideas that will change with time as your products and services evolve.

Let Zions Bank’s Business Resource Center assist you with your business needs. Call us for a free appointment at 801-594-8245. We are open Monday through Friday from 9 a.m. to 5 p.m. Beth Holbrook can be reached at beth.holbrook@zionsbank.com.