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How can I explain promotion? |
How can I explain promotion? The simplest way to explain promotion is that promotion is communication. Promotion is the mechanism by which companies (organizations) communicate the existence and nature of the company's products (and prices and distribution) to its targeted customers. When I explain promotion to my introductory marketing students, I always start with the communication process. A source has an idea that he or she (or it) wants to share with a group of people...the source encodes the idea using words, pictures, etc. to communicate the desired message and then transmits the message through some kind of channel. The receiver then decodes the message to translate the words, pictures, etc. in to meaning and then, hopefully, provides feedback to the sender to let him/her/it know that the message was received and decoded accurately. If I want to sell my house, I need to make it "look good" (product), I need to set a reasonable price, and I need to have a way to transfer ownership (e.g., contracts, mortgages)...but if no one knows that my house is for sale, I will never find a buyer...this is the purpose of promotion. Promotion takes many forms including advertising, personal selling, sales promotions (e.g., contests, coupons), and publicity. For example, if I want to sell my house, two common methods would to to put a sign in the yard (advertising) and tell people that stop by about all the great features or hire an agent to do that (personal selling). If my house was "special" in some way (it had historical value or was built "green" from the top up), I might even be able to get a reporter to write a story for the local newspaper as a "news item" about the special features of my home...this would be "publicity" (if I didn't pay the newspaper to run the story). Source(s): Ph.D in marketing Promotion is one of the four key aspects of the marketing mix. The other three elements are product management, pricing, and distribution. Promotion involves disseminating information about a product, product line, brand, or company. Promotion is generally sub-divided in the textbooks into two parts: Above the line promotion: Promotion in the media (e.g. TV, radio, newspapers, Internet) in which the advertiser pays an advertising agency to place the ad Below the line promotion: All other promotion. Much of this is intended to be subtle enough that the consumer is unaware that promotion is taking place. E.g. sponsorship, product placement, endorsements, sales promotion, merchandising, direct mail, personal selling, public relations, trade shows The specification of these four variables creates a promotional mix or promotional plan. A promotional mix specifies how much attention to pay to each of the four 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. An example of a fully integrated, long-term, large-scale promotion are My Coke Rewards and Pepsi Stuff ref:wikipedia i guess kiran ans the questions hehe.. |
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