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1.What different ways can companies use to promote their products or brands?

Companies have to develop good products or service, price them attractively and make them accesible to their customers and also they have to promote their products or services to increase their sales and the brands fame.

They are different ways for promoting products or brands like advertising, public relations , personal selling, sales promotions, they are called the promotional mix(4P's) .The matter of promoting is informing potential costumers about the existance and their advantages of the product, the service or the brand.

We are going to expose the different ways of promotion:

Firstly the personal selling, its the most expensive promotional tool(that is the principal disadvatages), and actually it is used as a complementary tool to advertisement.Personal selling its not only aimed for looking for customers, it is also aimed for giving to the customers a good image of the company, therefor today the majority of new product ideas come from this via.

On the other hand, there is another promotional tool named public relations that basically consist on protecting the image of the product or brand; the most commonly used techniques by the public relations is the publicity, that can be an outsize impact to the public that could not be achieved by advertisement or at least not without a huge cost.

To continue the sales promotion ( free samples, coupons, price reductions, competitions …) is used to stimulate the sales of the product , that is to say, to stimulate the market demand or improving product availability.Sales promotion therefor can be used as a promotional tool in everytime of the life cycle, depending on the moment of the cycle sales promotion will act one way or the other. For example when the product is in the decline state, the company could reduce the price, make discounts, offers to the costumers( for example if you buy one , you can get two in the same price), making presents to the costumers, raffleling trips, and so on.This technique is also used to maintain the loyalty clients and to catch new potential customers.

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