Promotion: A Cost or Benefit to the Organization?

The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.

Promotion is about how the customers are informed about a particular product or service and plays a vital role. So promotion basically carries the 3 Ps of the marketing mix by presenting that all important information to the right target market.

“Promotion refers to the advertising and selling part of marketing. It is how you let people know what you’ve got for sale. The purpose of promotion is to get people to understand what your product is, what they can use it for, and why they should want it.”

Promotion is a way company communicates messages on what the pruct does and what does the product can offer customers. It includes below elements:

1. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

The entire purpose of promoting products is to create awareness, persuade and inform customers about your product or service while identifying key features compared with competitive products. There are many benefits of performing successful promotion such as increasing sales and acquiring a greater market share, showing your products features and exposing competitive product’s flaws, teaching the market benefits of your product, explaining different usage of your product, conveying your brand image of your organisation and promoting new and improved features of your products.

This is the medium used by the firm to communicate with its target customers about the product positioning and the value offered. While launching a new product, Promotion creates awareness about the products or share information on how this service can solve customer’s problem. Once the customer makes the purchase decision and the purchase is executed, the company shifts promotional focus on retaining the customer and applies suitable promotional strategy. By combining personal and non-personal selling efforts a firm can aspire to “create a new customer and keep him” (quoted by Levitt). Therefore, for Target to successfully launch and sustain the product line for children, it is crucial to pay close attention to products and promotions from the marketing mix. The following recommendations will help Target to plan their marketing

Explain the role of promotion within the marketing mix for a selected product or service.

The products that people buy are promoted to bring in new consumers. Promotion requires an organization to have a lot of time. Also a promotion should be clear and t o the point.

A successful company knows how to efficiently publicise its operation as well as its products to customers. Promotion consists of branding, advertising, PR, corporate identity, social media outreach, sales management, special offers and exhibitions. Promotion must attract customers ' attention, be interesting, include a coherent and appropriate message and show customers a reason why they should select its product rather than anyone else in the market.

In business, it is important to use various and innovative promotional strategies to expand the demand of your product and to earn more consumers. It is one of the main things a business or a company must do to keep on working. There are 3 different ways to promote a product: to show information to

The marketing concept is focused on the sence of satisfying consumer needs and its main goal is to satisfy those needs by providing specific product or service offerings. In this approach, brands form out a marketing strategy which identifies their target market and the 4 P‟s as the price, promotion, place and product that are in accordance with their strategies(Kotler and Armstrong, 2006). Promotion, as a member of this marketing strategy acts as a tool for brands to promote their products or services and communicates their messages to their target markets. In their promotional efforts brands may use different media such as televisions, radios, newspapers, magazines, outdoor advertising and they can also prefer tools

Promotion refers to the act of communicating the benefits and value of your product to consumers. It then involves persuading general consumers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales promotion

Promotion – Promotion means making customers aware about your products and introducing the customers with the benefits which they can get by buying their products. They can do advertisements, direct marketing and sales promotion for the promotion of the product.

Promotion is an aspect of the marketing mix that has great importance. In order for our product to be successful, the promotion we use will be very vital. This is because of the fact that the method of promotion we use for the product can help to differentiate our product from other products which makes it unique and outstanding amongst other brands. Moreover, using the right promotion can be used as a way to persuade consumers of our product that they made the right choice.