Promotion is essentially a firm’s sales efforts and includes the function of informing, persuading and influencing the purchase decision of current and prospective customers with the object of increasing sales and profits. Promotion is communication from sellers to buyers in the market in as much as it tries to instil into, consumer’s minds images that make them buy the product.
Promotion mix consists of the following mix components:
- Personal selling.
- Sales promotion including.
Advertising: Advertising is defined as any paid form of non-personal presentation and promotion of ideas, goods or services by an identified sponsor. Advertising regulations differ between countries. The relative effectiveness of different media may be different in different countries. Similarly, media availability and efficiency may also vary.
Sales Promotion: Sales promotion is defined as short-term incentives to encourage purchase or sale of a product or service. Sales promotion includes many things like trade fairs and exhibitions, samples, gifts, contests, games, lotteries, etc.
Personal Selling: Personal selling or salesmanship is any personal communication between seller and buyer whereby the seller assists and persuades a prospective buyer to buy a product in a face to face situation. Its purpose is to win a regular and permanent customer. It is persuasive in nature.
Publicity: Publicity is don-personal stimulation of demand for a product, service or business unit through a favorable news item about it in a medium of communication that is not paid for by the sponsor.