The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion.
There are three main promotional objectives: inform the market, increase demand, and differentiate a product.
The goals of promotion are to create awareness, get people to try products, provide information, keep loyal customers, increase use of a product, identify potential customers, and even teach clients about potential services.
The main purposes of promotion are: (a) To recognize and reward the efficiency of an employee. (b) To attract and retain the services of qualified and competent people. (c) To increase the effectiveness of the employee and of the organisation. (d) To motivate employees to higher productivity.
Promotional marketing is designed to spread knowledge about a brand, product, or service to a wide audience with the aim of increasing brand awareness and sales. Its purpose is to inspire a potential customer to take action.
Promotion is aimed at informing consumers about features, qualities, performance, price, and availability of firms products. Market promotion is also a valuable means to inform consumers the changes made in the existing products and introduction of new products.
8 Benefits of Sales PromotionCreates differentiation. Creates communication opportunity. Creates word of mouth. Creates a platform to cross-sell and upsell. Creates a reason to buy. Creates a focused marketing approach. Creates greater revenue. Creates a source of information.3 Jan 2015
The purposes and advantages of promotions are to: recognize employees performance and commitment and motivate him towards better performance. It evaluates the creativity. It creates a competitive environment among employees and they try to show their capability.
To reward and motivate employees to higher productivity. To develop competitive spirit and inculcate the zeal in the employees to acquire skill, knowledge etc. To promote employees satisfaction and boost their morale. To build loyalty among the employees toward organization.
Definitions Promotion is defined as the movement of an employee from one position to another position of a higher pay grade or salary. Transfer is defined as the movement of an employee from one position to another position at the same pay grade level or similar salary.
What are the main advantages of promotion?
This article will underpin the key benefits of sales promotion, and what it can create for your brand.Creates differentiation. Creates communication opportunity. Creates word of mouth. Creates a platform to cross-sell and upsell. Creates a reason to buy. Creates a focused marketing approach. Creates greater revenue. •3 Jan 2015
Disadvantages of Sales PromotionIncreased price sensitivity. Consumers wait for the promotion deals to be announced and then purchase the product. Quality image may become tarnished: Merchandising support from dealers is doubtful: Short-term orientation:31 May 2008