Promotion is one of the market mix elements or features, and a term used frequently in marketing. The marketing mix includes the four P's: price, product, promotion, and place.[1] Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty. Promotion is also found in the specification of five promotional mix or promotional plan. These elements are personal selling, advertising, sales promotion, direct marketing, and publicity.[2] A promotional mix specifies how much attention to pay to each of the five subcategories, and how much money to budget for each. A promotional plan can have a wide range of objectives, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations, or creation of a corporate image. Fundamentally, there are three basic objectives of promotion. These are:[3]
- To present information to
consumers as well as others.
- To increase demand.
- To differentiate a product.
There are different ways to promote a product in different areas of media.
Promoters use internet advertisements, special events, endorsements, and
newspapers to advertise their product. Many times with the purchase of a
product there is an incentive like discounts (i.e., coupons), free items, or a
contest. This method is used to increase the sales of a given product.
Publicity is the movement of information with the effect of
increasing public awareness of a subject. The subjects of publicity include
people (for example, politicians and performing artists), goods and services, organizations of all kinds,
and works of art or entertainment.
Publicity is gaining public visibility or awareness for a product, service
or your company via the media. It is the publicist that carries out publicity,
while PR is the strategic management function that helps an
organization communicate, establish and maintain communication with the public.
This can be done internally, without the use of media.
From a marketing
perspective, publicity is one component of promotion which is one component of marketing.
The other elements of the promotional mix are advertising,
sales
promotion, direct marketing and personal selling.
Examples of promotional tactics include:
- Art people
- event sponsorship
- Arrange a speech or talk
- Make an analysis or
prediction
- Conduct a poll or survey
- Issue a report
- Take a stand on a
controversial subject
- Arrange for a testimonial
- Announce an appointment
- Invent then present an award
- Stage a debate
- Organize a tour of your
business or projects
- Issue a commendation