Free Competitions are organised by the companies, non-profit and non-governmental organisations, international agencies, governmental organisations, private agencies, individuals, etc. This has become a trend across the world. These free competitions has gained immense popularity. Most famous of these free competitions include marathons. These marathons provide both a feeling of competition as well as introduce notion of health.
Marketing Strategy
Free competitions are the most efficient way for the firms to promote their products. For free competitions no fees is asked from the participants. Thus a large crowd is often seen in these competitions. This is a great marketing strategy. Through free competitions companies can attract wider audience and can appeal to their senses. In these competitions, companies try to distribute their products to the maximum number of people. This is a way to advertise their product and ensure that maximum people are aware of the product and their brand.
Feedback
Companies or firms have this best opportunity to gain instant feedback for their products. This can be used as test-run for their goods before actual and official launch. A test-run in an actual human environment can provide comprehensive and very different results. This enables companies to gain proper knowledge about the efficacy of their products and if the customers and consumers are going to like them or not. There is also a possibility for the companies to identify who their potential customers can be.
Advertisements
Firms pay a huge amount to promote their products through advertising. Advertisements are meant to not only to entertain but also great means to provide relevant information about the product. Free competitions can do both involving very low costs. Essentially it is important for the companies to capture as many eyeballs as possible. This determine their profit and help them to even gain market share.
Cool Quotient
Companies try to maintain themselves as relevant and as appealing to their customers and potential customers. The young generation especially, gets attracted to these free competitions. This youngsters are targeted by the companies as at a very young age if they begin to use their products they will continue to do so for many years. This is seen as an investment by the companies and means to garner permanent and faithful customers.
Chance to showcase talent and skills
Free competitions are also a great opportunity for the people to show their ingrained talents and skills. An opportunity to show the world what they are capable of doing. Many people crave for audience and these free competitions give them that firm opportunity. Many people also depend on these free competitions as a source of their income and even in some cases as a source of earning a few extra bucks.
Healthy Competition
Companies while organising free competitions try to ensure healthy competition amongst the participants. As the competition is healthy, fair and impartial it will also help the company to secure respect and prestige amongst the people. Word of mouth promotion can also bring many customers within the folds of the firms.
