Promotion of products and services involves informing the consumers about the company’s product, its features, etc. and persuading them to buy these products. The four vital methods of promotion include advertising, Personal Selling, Publicity and Sales Promotion.
Promotion Plays an important role in Marketing
- Increase Brand Awareness
- Increase Customer Traffic
- Build Sales and Profits
- Informing: This involves the distribution of information to the middlemen as well as definitive customers.
- Persuading: Products require strong affiliation to buy products since customers have many brands to choose from.
- Reminding: Consumers must also be reminded of a product availability and fulfilment potential.
A marketer has to take numerous vital, decisions in admiration of promotion of the products and services such as deciding the promotion budget, the promotion mix, i.e., the mixture of the promotional tools that will be used, the promotion budget, etc. However, booming promotion increases sales so that advertising and other costs are spread over a larger output.