Promotion is the action of promoting a person, thing, service, etc. Its objective is to promote and disseminate products, services, goods, or ideas, to publicize and persuade the public to carry out an act of consumption.
Also, promotion is considered to be the group of people or members of a particular activity, generally in the educational field, such as high school, university career, military service, etc
Promotion is the transfer by promoters who are individuals in charge of promoting products and services through interaction with the client; for example, the champion who works for a natural juice company offers free samples to clients so that they can try, and thus persuade them to buy the product, which is known as sales promotion
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The Most Widely Used Promotion Methods Are:
Sale promotion. Sales promotion includes activities such as placing displays in stores, holding trade shows, and distributing samples, prizes, and discount coupons. Its objective is to reinforce and coordinate personal sales with advertising efforts.
Unpaid Advertising. It is an impersonal way of stimulating demand that is not paid by the person or organizations that benefit from it. Typically, this type of advertising is complete through a feature in the news that favors a product, service, or company. Also the insertion is made in the press, radio or television, or other means of mass communication.
Public relations. It is a planned effort by an association to influence the opinion and attitude towards it. The target market for the public relations effort can be any “public,” such as customers, a government agency, or individuals who live near the organization. The Public Relations department is responsible for a product or the entire company.
Promotion And Imperfect Competition.
Most capitalist markets currently operate under conditions of imperfect competition. It means product differentiation, irrational buyer behavior, and also incomplete market information. In such circumstances, promotional activities are of paramount importance. A company needs the support of promotion to differentiate its products, persuade buyers, and also provide more information for the purchase decision process. how many jobs are available in real estate investment trusts
In Economics, the fundamental purpose of promotion is to change the location and shape of the demand (revenue) curve for a company’s product. The company hopes, through advertising, to increase the sales volume of a product at a given price. He also expects the promotion to affect the elasticity of demand for the product. It intends to produce an inelastic demand when the price increases and elastic when it decreases.
Promotion And Strategic Marketing Planning.
Along with its strategic approach to marketing planning, a company must envision all of its promotional activities as a complete subsystem within the total marketing system. Also it means coordinating the activities of the sales force, advertising programs, and other promotional efforts. Unfortunately, these activities are still fragmented within many companies today: advertising agents and sales managers are often in conflict. place:type=6&sort=14&maxresults=10
As we discuss strategic promotional planning, we see the interrelationships among the significant elements of the marketing mix. Promotional activities coordinated with those concerning product planning, pricing, and distribution. Advertisement is significantly related to distribution strategy. Thus, promotion is predispose by the type of product to marketed and aspects of the pricing strategy.
It should consider as an activity of the distribution channels. It is a mistake for the manufacturer or intermediary to develop a promotional program without considering its interdependence with other organizations in that channel of the firm. Also each company in a pipeline should create strategies that believe other companies’ roles in it. Each one should consider its promotion as part of a total effort of the distribution channels. That concept will have to be compatible later with the approach apply to marketing
Characteristics Of A Good Promotion
- Firstly, It increases the ability and desire of vendors and merchants to sell its products and creates a desire in potential customers to buy them.
- It is considered a discontinuous incentive in time, form, and character—the timing of the actions.
- Boost short-term sales.
- Promotion can take many forms, so it must follow a clear strategy and be original to draw the customer’s attention.
Main Tools For A Good Promotion
- Samples: Free and limited distribution of a product or service for testing
- Vouchers: Certified vouchers that use to pay part of the price of the produce or service
- Repayments: offer to return the amount paid for the product or service. Usually, in the next purchase
- Discounts: Reduction in the price of a product or service, valid for some time
- Rewards: Free or reduced-price goods that add to the base product or service
- Promotional gifts: Useful items with the advertiser’s brand or logo that give free to their customers, prospects, or the general public
Promotion At The Point Of Sale
Exhibitions and demonstrations at the deal’s end include merchandising.
- Firstly, Elements that make up a promotion strategy
- Advertising: In social networks, television, radio, print ads, brochures, posters, flyers, billboards, audiovisual material, the Internet, etc.
- Events and experiences: Visits to factories or companies, outdoor activities, art exhibitions, sporting events, etc.
- Personal sales are Incentive programs, sales meetings, sampling, fairs, etc.
- Direct marketing is a Product catalog, telemarketing, Internet purchases, Email message, TV sales, etc.