Definition of Promotion: -
Promotion is one element among the other elements of the marketing mix; price, place and product. The term promotion can be ideally defined as the marketing tactics, for generating customer awareness about a product or brand, with the aim of generating sales and developing positive impression about a particular brand or service provider.
Promotion is also a constituent element of the promotional mix or plan, which includes, personal sales, direct marketing, advertising, sales promotion and publicity of products and services. By the aid of a promotional mix, the company determines which of the five elements deserves special attention, and the budget to be allotted accordingly.
In general, the major objective of a product promotion is:
- Creating consumer awareness by distributing information.
- Create the demand.
- To create a product identification or a trademark.
Textbooks on Promotion: -
Some of the basic textbooks on promotion are:
- Integrated advertising, promotion, and marketing communication, Clow, Kenneth E., and Baack Donald., 2004.
- Advertising and promotion, Belch, George E., and Belch, Michael A., 2001.
Examples of Promotion: -
There are several ways of promoting a product or service. With the increasing use of internet, digital promotion of products has been used extensively by the business owner, in order to reach out to the customers.
A company may use internet advertising modes such as social media promotion, promotional emails, endorsements, newspapers or by organizing special events to promote their products and services among target group of potential customers.
Often the business owners offer special discount vouchers, coupons or even free samples and gifts after hosting contests. This increases the sales significantly.
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