Promotion
Promotion is a term taken from Latin word promovere. It means ‘move towards’. In marketing, promotion means all those tools that a marketer uses to take his product from the factory to the customer and hence it involves advertising, sales promotion, personal selling, and public relation. It is necessary to flow the information about the product from the producer to the consumer either along with the product or well in advance of the introduction of the product. This role is played by promotion.
In the words of Masson and Ruth, ”Promotion consists of those activities that are designed to bring a company’s goods or services to the favorable attention of customers”.
Importance of Promotion:
It may be studied in the following heads:-
1. Importance to Business:- Nowadays, it is very necessary to communicate information regarding quality, features, price uses, etc. of the product to the present and potential customers. Then only the consumers will select the product from a wide range of competing products. Most modern institutions cannot survive in the long run without performing promotion function effectively.
2. Economic importance: In an economic sense, it helps to generate employment opportunities to thousands of people. As a result of the promotion, sales will increase and it brings economies in the production process and it reduces the per-unit cost of the product.
3. Social importance: Promotion has become an important factor in the campaign to achieve some socially oriented objectives. For eg. Ad against smoking, drinking, etc. It also helps to provide informative and educational service to the society
4. Importance to non-business organizations: The non-business organizations like govt. agencies, religious institutions, educational institutions, etc also realized the importance of promotion and
they are using the various elements of promotion mix very widely.
Promotion is a term taken from Latin word promovere. It means ‘move towards’. In marketing, promotion means all those tools that a marketer uses to take his product from the factory to the customer and hence it involves advertising, sales promotion, personal selling, and public relation. It is necessary to flow the information about the product from the producer to the consumer either along with the product or well in advance of the introduction of the product. This role is played by promotion.
In the words of Masson and Ruth, ”Promotion consists of those activities that are designed to bring a company’s goods or services to the favorable attention of customers”.
Importance of Promotion:
It may be studied in the following heads:-
1. Importance to Business:- Nowadays, it is very necessary to communicate information regarding quality, features, price uses, etc. of the product to the present and potential customers. Then only the consumers will select the product from a wide range of competing products. Most modern institutions cannot survive in the long run without performing promotion function effectively.
2. Economic importance: In an economic sense, it helps to generate employment opportunities to thousands of people. As a result of the promotion, sales will increase and it brings economies in the production process and it reduces the per-unit cost of the product.
3. Social importance: Promotion has become an important factor in the campaign to achieve some socially oriented objectives. For eg. Ad against smoking, drinking, etc. It also helps to provide informative and educational service to the society
4. Importance to non-business organizations: The non-business organizations like govt. agencies, religious institutions, educational institutions, etc also realized the importance of promotion and
they are using the various elements of promotion mix very widely.
Define Promotion. What are the importance of promotion?
![Define Promotion. What are the importance of promotion?]()
Reviewed by enakta13
on
September 17, 2019
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