Define promotion. What are the purposes of promotion?
Answers
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In marketing, promotion refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue. The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion.[1]
Promotion is also one of the elements in the promotional mix or promotional plan. These are personal selling, advertising, sales promotion, direct marketing publicity and may also include event marketing, exhibitions and trade shows.[2] A promotional plan specifies how much attention to pay to each of the elements in the promotional mix, and what proportion of the budget should be allocated to each element.
Promotion covers the methods of communication that a marketer uses to provide information about its product. Information can be both verbal and visual.
Answer:
Promotion means spreading information about an product, service or issue. Promotion as part of marketing means spreading information about a product, product line, brand, or company.
Promotional strategy is designed to inform, persuade, or remind target audiences about those products.The unique combination of advertising, personal selling, sales promotion, public relations, social media, and e-commerce used to promote a product is called the promotional mix.
In marketing, promotion refers to any type of marketing communication used to inform or persuade target audiences of the relative merits of a product, service, brand or issue. The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty.
The purpose of promotion is to communicate directly with potential or
existing customers, in order to encourage them to buy the product and
recommend it to others. The promotional mix involves different forms
of promotions. There are:
- Personal selling
- Public Relations
- Sales promotion
- Direct Marketing
- Trade Fairs and Exhibitions
- Sponsorship
- Advertising