Q Different promotional tools & promotional techniques for enhancing branding of digital products Home, - Best promotional tools for enhancing branding of digital products The aim of the research is to identify and examine the best promotional tools for enhancing branding of digital products of new business.This project is carried out to encounter the best strategies that can be implemented forenhancing customer base in order to increase profitability of the new business. Promotional activities within business environment are considered to be key element for enhancing customer base. Based on the views of Chandraet al. (2018), it can be said that strong promotional strategies aids a company to differentiate its products from other business organisations. In addition to this, it can also be said that this implementation of promotional strategy aids a business organisation to gain opportunity to display the qualities of their products with information rich contents and blogs. As per the views of Kalkat and Grant(2017), there are wide varieties of promotional platforms that can be employed for increasing customer's insights. Thus, it can be stated that with the help of promotional tools a business is able to increase its recognition in the competitive market. Interesting :- discusses how online and video advertising and social media marketing is used to attract customers Motivation The strategies of promoting products differentiate the business organisations from each other. These strategies influence the perception of customers in purchasing of products.Konyimbihet al. (2017) added to this, promotional platforms that can be utilised are social media platforms and other offline mediums as well for increasing brand recognition. As per the reports of social media users, it has been analysed that the growth rate of social media users is approximately 9% annually (Smartinsights.com, 2020). From this, it can be predicted that social media platforms aids the business organisation to reach their information of products to a huge base of customers worldwide. Therefore, it can be said that social media platforms motivates the business organisations to place their product content in different portals for acknowledging the customers. Demand of the digital products in market The demand of the digital products has immensely increased in the world. The consumer behaviour and their demands have benefitted the globalisation immensely. The consumers in today's generation are much concerned and focused towards the digital products such as EBooks, software, music and videos. The comparison between the physical products and digital products have immensely benefitted the current generation solving various truncated errors and less time consuming. There has been various advantages of the digital products such as it easy to distribute among the consumers, more sustainable followed by infinite replications. The features of digital products are way more happening compared to physical ones. The demands of the digital products are having very less taxes compared to the physical ones, as these products do not consume any transportation charges. The Digital products have the different manufacturing processes, which consider manufacturing having very easily processed with just a computer and passion to drive innovation. The best examples about the youth generation being mostly using the digital products are music related software's (Wiesböck and Hess, 2019). Being launched in today's generation such as eBooks, Software, videos, Audio and music, photograph followed by the graphics and digital art. The main findings about the digital products, which are vigorously used by the new generation, have increased the sales of the digital products compared to physical ones. The benefits of the digital products solve out to be very significant as they are easier to manage, less expensive compared to physical ones and easy to reach the market. The main cause of raising the digital demands is due to low servicing cost of the digital products. The ways through which the digital products are visible as such through steamed, played and translated into intangible file format (Bryndin, 2019). Different promotional techniques being used in modern business world The promotional techniques are being mostly used in the business world to drive the productivity and profitability. There are various techniques enlisted such in the promotional ways such as promotional strategy; the promotional strategy used by the organisation is to promote the business brand and logo in among the customers to create more potentialities. Other ways empanelled for the organisation to promote the businesses are social media promotion; this feature implements the brand image, products and services over the social networking to reach the potential customers. This feature is used vigorous among the organisation as being the cheapest and effective way of promoting. Various organisations follow the technique of using sampling the products to the customers, which in return turnout the potentialities among customer. These feature works indefinitely as the sampling of the products to the general masses shows quick action among them to buy the particular product and services. The most effective promotional tools used by the middle sized or big sized organisations is through the corporate social responsibility. This feature is excessively costly for the organisation and the stakeholders but processes a deep impact among all (Heereet al., 2019). The corporate social responsibility being one of the most featured technique of the promoting the business as this is highly effective in terms of the affecting the customer minds. The main sources of following the promotional techniques are to adhere the organisational goals as stated. There are several other techniques such as surveying the after sales, the officials of the organisation reaches the customers after sales and make surveys about the products and services if there is any issues being faced or not. This creates a great impact among the customers serves the promotions of the brand name and its values towards the customer satisfaction. Advantages and Disadvantages of different promotional tools The advantages of the promotional tools are such as it boosts the company morale and allow the organisations to keep the productivity high. The organisation employs competent marketing and promotional employees to create the potential of the organisation. The employees mostly take the advantage of visualising the promotional activities as being in the learning phase they get to accumulate huge experiences. The other benefits being attached to different promotional tools are guaranteed customer loyalty; the customer loyalty is highly required by the organisation to create the great impact of using their products on customer's mind. The customers require the most after sales is done, as after the sales the company officials visits the customers and use survey tools to accumulate the working conditions and check if there is any difficulty being faced by the customers. Such initiatives from the organisation entail long lasting impact on the customer's mind about the brand and its products (Khareet al., 2019). The disadvantages of using the promotional tools are it increases the price sensitivity of the products as promotion incurs cost and the organisation recovers the same from the customer by raising the product prices. The other disadvantage, which is related to promotional tools are if the promotion of the product is less compared to all other, highlights that the selling of the product is less compared to others. This entails great impact in the customers mind and highlights the downfall of the product sales. The usage of sales promotion may cause the depressing effects for the organisation as being the promotional tools are used for shorter duration the product sales reaches its accomplishment. However, some products are over promoted causing various issues about the products and organisation dilution of values. The competent professionals must do the usage of promotional tools, as the usage also disclaims various issues if used by the incompetent professionals (Simicet al., 2019). Scope, Objectives and Risk Scope With the ever-increasing global market competition, branding and related marketing approaches have become highly important for various organisations. In this context, one of the major marketing functions for building effective brand image has been promotions and advertisements. Further, various modern tools have been introduced for these promotional strategies. The scope of the study is to analyse these tools for better understanding. Additionally, the research will focus on the importance and contribution of these tools in digital marketing approaches. Further, major digital companies are frequently using tools such as websites and social media across the globe. Therefore, it is important to ascertain the importance of these tools and implement the same effectively within the corporate strategy. In order to ensure logical conclusions, appropriate research processes will be incorporated to analyse the advantages of these tools form promotions. Moreover, in case of digital products in new businesses, these tools play a major role. It ascertains the ability of the new organisation to communicate with the customer and educate them with appropriate product knowledge. With proper understanding about the tool's benefits, the new organisations will be able to use it effectively. However, these tools are subjected with various shortfalls, which gave the potential to derail a new organisation from its objectives. Without proper knowledge of these challenges, the organisations will be unable to chalk out the required strategies to mitigate the same. In order to resolve these problems, these drawbacks will also be determined in the project. Along with identification of challenges, the major techniques, which can assist the new organisations to tackle the same will be analysed. Additionally, the project will provide adequate understanding about its major details including the important risks that need to be tackled and the other ethical considerations. Objectives The major objectives of the project will be: To evaluate effective promotional tools for promotion of digital products To analyse the benefits of these promotional tools for digital marketing To analyse the challenges of these tools in promoting digital products To determine appropriate strategies to overcome these challenges Risks Risks are the uncertain situations, which can hamper the progress of a specific project (Aven, 2015). Due to this, the researcher will be having no or minimal access to the resources required for research completion. These challenges can be mitigated with appropriate risk analysis. Risk Impact Pre-score (Out of 5) Mitigation technique Post-score (Out of 5) Financial shortage This will restrict the researcher from acquiring the required materials and access to proper information (Ayyub, 2014). 5 This can be mitigated by acquiring appropriate financial support from family or friend. Further, appropriate contingency fund can also help the researcher to tackle problems in mid way of the project. 1 Shortage of time This will be lead to major complications and increase stress of the researcher. As a result, the quality of the result will be lowered. 4 Appropriate planning should be done prior to the research project. Further, appropriate division of time for all tasks based on priorities will support in this case. 1 Data security issues Due to this, the researcher will lose significant details related to the project and hamper the overall progress. This will also lead to financial challenges. 5 The researcher can overcome this hurdle by using proper protection systems such as passwords and firewalls. This will prevent any kind of virus and unauthorised access to the details. 1 Lack of appropriate technologies This will not allow the researcher to acquire appropriate details for research and store the same for future work. Further, this increase labour for work. 3 The researcher should plan appropriate devices required for the research before the start. Some of the major devices will be pen drives, hard drives, and CDs. 1 Ethical issues This will reduce integrity in all the findings of the research. The conclusions will not be reliable, which result in poor quality of the research project. 4 This can be mitigated through incorporation of various ethical strategies. Some of the key approaches should be appropriate acknowledging of work and maintaining proper authorisations to work. 1 Table 1: Risk analysis for the research Research Details The research on identifying the importance of promotional tools on digital marketing will be carried out by using secondaryresearch method. In this approach of data collection, information is collected through secondary sources such as internet, e-books, journal, magazines or articles about particular area of discussion. Through this methodology, the research aim and objective of assessing promotional tools significance in marketing through digital channels can be determined. Moreover, secondary research on relevant topic can help in assessing data gathered from various written articles and analyse them through using thematic analysis method (Johnston, 2017). Thus, the issues associated with promotional tools along with key methods to resolve them can be recognised. In this way, the objectives of present research can be fulfilled. Efficiency of using promotional tools in marketing digital products can be understood by using secondary research as vast written articles can be collected to ascertain the same. The researchdesign that will be selected for this research will be descriptive design. In this design, the aim is to describe a phenomenon or situation systematically and accurately (Kumar, 2019). It focuses on "what" of the research topic rather than "why". This can help in meeting present research's aims and objectives. Through describing the observed articles relevant to topic, findings can be gathered. Information on importance of promotional tools on digital marketing can be analysed using descriptive methods. It can assist in describing the events associated with the topic and make proper assessment on the same to conclude upon a result. Project plans Activities Start date Duration End date Formulating research topic 03-01-2020 1 4-1-20 Selecting research objectives 04-01-2020 2 6-1-20 Conducting literature review 06-01-2020 2 8-1-20 Determining research methodology 08-01-2020 5 13-1-20 Collection and Analysis of secondary data 13-01-2020 2 15-1-20 Proof reading and submission 15-01-2020 2 17-1-20 Table 2: Work breakdown structure The research is intended to complete within 14 days. However, it would need skills of evaluation, analysis, decision-making, organising, and others to deliver proper result of this research. The work breakdown structure provided above can help in meeting objectives of identifying the promotional tools importance in performing digital marketing activities. The intended deliverables of this research are understanding benefits that promotional tools can provide to digital marketing. Each stage is required for meeting objectives of research as without systematically following the steps of research, appropriate result would not be gathered. Monitoring and control Activities Controlling methods Data security Use of secured system Time management Proper scheduling Appropriate delegation Use of finance Control on making use of resources through budget plan Table 3: Monitoring and control The methods provided above on controlling and monitoring can assist in making proper use of finance, protect data, and manage time. This can be helpful in meeting objectives of finishing tasks within time without extra investment on research ensuring data security. Resources Cost of resources (£) Online technology 20 Books 15 Stationeries 10 Others 10 Total 55 Table 4: Resources and cost The resources mentioned above area essential for conducting secondary research and meeting objectives of identifying the benefits associated with use of promotional tools to influence digital marketing. Moreover, the cost mentioned is estimated expenditures. Ethics, Legal, Social, Security and Professional Consideration For any kind of research, it is important to maintain its validity and reliability. In this research, it will be done by incorporating effective ethical considerations. Appropriate measures will be taken for the same. The researcher will provide appropriate acknowledgements for the selected articles and journals for the research. Further, this study will rely on secondary collection and therefore, it will be assured that appropriate data sources are selected, which will have appropriate alignment with the objectives. Moreover, appropriate protections will be introduced within the research to ensure proper safety of the data. This will be done with the help of security passwords and other storage devices. It will be ensured that there is no exaggeration or deception in relation to the objectives of the study. The researcher will primarily declare all the possible challenges and funding sources for the research. This will be done through appropriate planning before the initiation of the research. Further, communication will play a major role in this research. The researcher will have the full responsibility of implementing strategies, which will have higher capability of maintaining transparency in communication. It will be ensured that no misleading information will be provided through various mediums of the research. In order to incorporate the legal standards in the research the various postulates of Data Protection Act 2018, United Kingdom will be effectively aligned. This law restricts ineffective usage and handling of data for any kind of work (Carey, 2018). The researcher will implement efficient security measures for the same. Access to the drives, CDs, and other storage devices will be provided to only few individuals important for the research completion. These strategies will assist the researcher to safeguard the data and information from unauthorised access and activities such as hacking and cyber theft. Therefore, there will be minimal chance of data loss. For professional considerations, the researcher will assure appropriate carefulness, responsibility, and integrity in all steps of the research. Mainly, it will be ensured that all the stages have proper connection to the major objectives of the research and that the conclusions satisfy the same. This can be deduced that promotional tools are helpful for digital marketing activities. However, there are some challenges associated with the use of promotional tools of marketing. The challenges of utilisation of promotional tools can be mitigated through different strategies as discussed in literature review. Research on this topic will be beneficial in determining efficiency of promotional methods in marketing digital products. Secondary research will be carried out to gather data from relevant sources through online medium. Appropriate research methodologies such as descriptive design method will be incorporated in collection and analysis of secondary information. Timescale and ethical considerations have been provided that will be regarded for carrying out the research. Literature review has been provided on relevant topic along with risk management plan.
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