Competitions come in all shapes and sizes, so do the prizes. Competitions are normally organized by businesses and organizations (such as www.element-london.com) as a way of marketing new products and services, promoting a certain product, or creating awareness of certain social issues.

If a company launches a new product, it needs the consumers to try it, and by competitions the winner gets to use the product thus marketing and also creating awareness at the same time.

Competitions may also be organized targeting certain groups or niche in the market and that is the reason there are always rules and regulations regarding any competitions.

Some competitions are also geared towards spurring new innovations and such type of competitions may require a lot of effort and even spending but the grand prizes are always remarkable. Here are some of a few examples of prizes you may win in a competition.

SMALL PRIZES

In every competition there are always different kinds of prizes to be won, sometimes when you enter competitions you may be automatically a winner. This is because some companies award some prizes simply because you bothered to try out their products. They simply recognize the value of each customer and offer consolation prizes to everyone who might have participated but was not lucky enough to get the grand prize.

Some of the small prizes may include gift vouchers, CDs, books, cufflinks in a nice cufflink box, T-shirts, samples of their products and even phone accessories such as headphones etc. Companies offer such kind of prizes to keep their customers happy and to encourage them to keep trying even in future competitions. The prizes also help in marketing of products and services to customers.

MEDIUM PRIZES

In competitions there are prizes at every level, the runners up always get prizes too and the prizes keep growing and are also varied. Depending on the organizers and sponsors of such competitions, the prizes may greatly differ. Some companies come together to promote certain products or services that will benefit all the parties involved in one way or the other. Each of the participating companies may offer various prizes for the runners up, sometimes they may be several of them and the prizes may be different.

The prizes may include a weekend getaway to a certain destination that is being promoted; it may be a meal in an exclusive restaurant, a flight ticket to a destination, a flat screen TV or free cable TV subscription for the whole year. Medium prizes are normally to encourage participants and to promote the services or products offered by companies.

BIG PRIZES

The big prizes in competitions are normally the motivation to encourage many participants to take part in the competitions. They are always extravagant so as to attract everyone’s attention and they are normally advertised a lot in the media to woo people to take part.  They may include huge amounts of cash, ticket to the Monaco Grand Prix, fully paid tour around the world or exclusive tickets to the world cup finals.