informing the market about a product, product line, brand, or company and encouraging a purchase decision
Once an organization has learned the market needs, produced or procured a product, and priced it, it then needs to promote the product by letting the market know that it exists, and how it can be purchased.
Promotion involves providing information about a product, product line, brand, or company. There are many ways to promote including:
- Personal selling
- Sales discounts
- Public Relations/Publicity
- Word of mouth, including electronic endorsements
- Product placement