The ISP says promotional marketing is becoming an increasingly important element of the marketing mix, a fact highlighted by the imminent rebranding of the ISP as ’The Institute of Promotional Marketing’.
Promotions play a central role in encouraging early adoption, but this will project will look at what happens next: does the promotion encourage repeat purchase or does it actually encourage brand promiscuity instead.
Richard West, senior lecturer and researcher in marketing and business strategy, University of Westminster, says: “Promotional marketing has been relatively overlooked by academic researchers, but there are exciting areas with rich research potential within it.
“For example, when it comes to customer loyalty, we assume that ’Awareness’ through advertising is the first step of the AIDA (Attention-Interest-Desire-Action) process. But the first experience many people have of a brand comes through a promotional purchase, so we need to examine this area more closely and perhaps revise the traditional AIDA model.”
The new name and corporate identity for the ISP will be officially launched on 26 May, at the ISP Awards 2010, which will be the last event to use the existing ISP identity.
From then on, the Institute will take on the new name, which chairman Clive Mishon says better represents the wide range of marketing and communications activities the Institute’s members do.