Consider this your go-to guide on seven different types of marketing. Loyalty Incentives PUBLIC RELATIONS – How to use the media 1. The purpose of promotion is to create and promote awareness, create interest, and generate sales or prompt a favorable response. Placement of logos of sportswear companies placed on stadiums and team uniforms is an example of sponsorship. Inequality in Capitalism According to Karl Marx, Henry Ford: Accomplishments and Contributions, What is Quantitative Easing: An Explainer, Blue Ocean Strategy: Definition and Principles, Apple M1 Explained: Specifications, Features, Pros and Cons, ARM Explained: Advantages and Disadvantages, Explainer: Difference Between Intel and ARM, Precision Medicine vs. Personalized Medicine: The Difference, Cytokine Storm: Definition, Causes, and Effects, Dexamethasone Explained: Pharmacology and Applications, mRNA Vaccines and mRNA Technology: An Introduction, The Role of Pope Urban II in the First Crusade, Reasons for the Success of the First Crusade, History and Origins of Chess: From India to Persia and Europe. News/Media Releases PERSONAL SELLING 1. Unlike advertising, this type of promotion can be free although there are paid efforts aimed at stimulating or boosting discussion and interest. Firms need to carefully consider the message that their promotion strategy will be conveying to their target audience. Allowed HTML tags: