It is the basic elements of a market mix, which contains the 4 P’s: Price, Product, Promotion, and place. Promotion is also included in the 5 pieces of a promotional plan and they are personal selling, advertising, sales promotion, direct marketing, and publicity. Promotion is the medium which communicates it's product Information to the consumers in both verbal and visual ways.
With all this said about a promotion it gives you the same product which you can get it for a lesser price, 50% off or even buy one get one free which definitely makes an impression on the customers to have a look. The life of a promotion can have a short lifetime but the impact it creates is definitely a positive vibration towards the consumers. Consumers may not want the product at the time they see the promotion but the product will definitely get it to there mind.
Promotion is beneficial for a customer and a company because the customer will be getting more value for there money and the company will be making their brand reach out to many more consumers and increase their brand value. This is the major part promotion plays in the life of both parties.
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