Question

What is promotion of business?

Hint:

Promotion = Communication + Persuasion + Demand creation.

Answer 1

Step 1: Meaning.
Promotion of business refers to all the efforts and activities undertaken to inform customers about a product, create demand, and persuade them to buy.
Step 2: Objectives of promotion.
1. To inform customers about the availability, features, and benefits of a product.
2. To create brand awareness and establish goodwill.
3. To increase sales volume and market share.
4. To compete effectively with rivals.
Step 3: Methods of promotion.
- Advertising (TV, newspaper, online).
- Sales promotion (discounts, offers).
- Personal selling (sales representatives).
- Public relations (press releases, events).
Step 4: Conclusion.
Promotion is an essential function of marketing as it builds demand and helps businesses expand their reach.