Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty. It is one of the four basic elements of the market mix, which includes the four P's: price, product, promotion, and place.
Promotion is also defined as one of five pieces in the promotional mix or promotional plan. These are personal selling, advertising, sales promotion, direct marketing, and publicity. A promotional mix specifies how much attention to pay to each of the five factors, and how much money to budget.
Fundamentally, there are three basic objectives of promotion. These are:
The purpose of a promotion and thus its promotional plan can have a wide range, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. We ourselves are good at Brand Promotions. We are one of the leading Brand Promotion Company in Delhi-NCR and BTL Company in Delhi-NCR.
The term promotion is usually an "in" expression used internally by the marketing company, but not normally to the public or the market, where phrases like "special offer" are more common.
The following Bar-Graph Shows how different Promotional Strategies work out. The vertical axis shows the Efficiency of the activity whereas the horizontal axis states the costing part of the Promotion.