This is useful for broadcasting information about new products to different media. Weaknesses Public relations campaigns are expensive for a company. Unless the company has an internal public relations team, the company must hire people from outside the company and create an extra expense for the company. Promotions This place of communication provides short-term incentives to encourage customers and clients to purchase the product or service. Some of these marketing options include sales flyers, price discounts, and coupons for the product or service (“7 Top Types of Promotion,” 2014). This method would cause many new customers to move services away from competitors, but it would not be the most efficient way to market the X1 service over a long period. Strengths With short-term incentives, customers and clients are more likely to act quickly and ignore the product or service offered by the competition. Weaknesses When you introduce a significant amount of low-cost-of-service incentives, consumers may purchase the product or service only at the lowest cost. By doing this, the company risks losing a significant amount of profits
tags