Unit-4 Session I : Meaning & Importance

Unit-4 Session I : Meaning & Importance

By: Nagraj Sir

Meaning of Promotion

Promotion refers to communication aimed at reaching the target market. It informs, persuades, and reminds the audience about a product, its availability, and its price. It includes Integrated Marketing Communication (IMC), the communication process, and various promotional tools used to promote products, services, or ideas. Promotion is vital for every business to connect with its target audience.

Importance of Promotion

Promotion, as part of the marketing mix, serves several important functions:

  1. Information: It informs customers about new products, services, or ideas, including where and how to access them.
  2. Persuasion: Promotion aims to convince customers to choose one brand over others in a competitive market.
  3. Reminder: Continuous promotion reinforces customer loyalty and ensures that customers don't forget the brand, even in challenging times (e.g., during product shortages).
  4. Relationship: Through consistent promotion, companies build lasting relationships with customers, fostering long-term loyalty.
  5. Adds Value: Promotion enhances the perceived value of a product or brand by influencing customer perceptions.
  6. Assists Other Company Efforts: Promotion supports overall company objectives, aids sales teams, and amplifies other marketing communication efforts.

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