What is Promotion
Promotion is one of the four elements of marketing (21) (product, price, promotion, place). It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer’s purchasing decision.
The (22) of five elements creates a promotional mix or promotional plan. These elements are personal selling, advertising, sales promotion, direct marketing, and publicity. A pro motional mix specifies how much attention to pay to each of the five subcategories, and how much money to (23) for each. A promotional plan can have (24) range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. (25) however there are three basic objectives of promotion. These are: 1, to present information to consumers as well as others; 2, to in crease demand; 3, to (26) a product.
There are different ways to (27) a product in different areas of media. Promoters use internet advertisement, special events, endorsements, and newspapers to advertise their product. Many times with the purchase of a product there is an (28) like discounts, free (29) or a contest. This is to increase the sales of a given product.
Promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to (30) immediate sales. These efforts can attempt to stimulate product interest, trial, or purchase. Examples of devices used in promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, rebates, and sweepstakes.