Definition of Promotion, Types And Benefits For BusinessBusiness Promotion
|Definition of Promotion, Types And Benefits For Business|
Definition of Promotion, Types And Benefits For Business - Promotion is the most important part of a business or venture. By doing this promotion, it is hoped that it will increase the sales figures of your product.
Without promotion, it will be impossible for a product to be known by many people. If the product is not known by many people, it will also affect the income level to decrease.
Because promotion is so important for business, on this page we will discuss many things about promotion.
What is Promotion?
Do you know what promotion means? If not, let's look at this article carefully.
According to Wikipedia, Promotion is an effort to inform or offer a product or service to attract potential consumers to buy or consume it.
Meanwhile, according to experts, the meaning of this promotion is different. There are 5 experts that we will discuss in this article. The following is the discussion.
Definition of Promotion According to Harper Boyd
According to Hyper Boys, promotion is an effort used to persuade people to accept products, concepts, and ideas
Definition of Promotion According to Swastha
According to Swastha, promotion is one type of one-way persuasion whose purpose is to influence other people to take actions that can create an exchange or marketing.
Definition of Promotion According to Boone & Kurtz
According to Boone & Kurtz, promotion is a process to inform, persuade and influence other people's decisions in making purchases of a product.
Definition of Promotion According to Tjiptono
According to Tjiptono, promotion is a form of marketing communication that aims to disseminate information, influence others, persuade others, and or remind the target market of their products to be willing to accept, buy, and be loyal to the products offered.
Understanding Promotion According to Kotler
According to Kotler, promotion is a process in marketing strategy as a way to communicate with the market.
From some of the above meanings, we can conclude that promotion is an activity in the field of marketing carried out by disseminating information on a product with the aim that the product can be accepted by the public, resulting in economic transactions.
Is Promotion The Same As Marketing And Advertising?
After reading the definition above, you must be wondering what is the difference between promotion, marketing, and advertising.
At first glance, the three definitions above might look the same. However, it turns out that the three are different. Then, what are the differences? The following is the discussion.
The Difference between Promotion and Marketing
According to Wikipedia, marketing is the activity and process of creating, communicating, delivering, and exchanging offers that are of value to customers, clients, partners, and the general public. Meanwhile, promotion is an effort to notify or offer a product or service to attract potential consumers to buy or consume.
Marketing activities can be carried out using the 7P principle (Product, Price, Place, Process, Promotion, People, Process, and Physical Evidence). Meanwhile, in Promotion activities, you will use the principles of 6 other strategies which include advertising, sale promotion, publicity, personal selling, direct marketing, and interactive media.
In addition, between promotional and marketing activities, both of them have different priorities. Marketing activities will be more concerned with maintaining brand image. This is intended to maintain a positive brand image in the eyes of consumers.
Meanwhile, promotional activities, in general, are not too concerned with brand image. Promotion will be more concerned with how to attract consumer attention.
Promotion and Advertising Differences
Apart from being different from marketing, promotion is also different from advertising. Promotional activities are directly related to sales, therefore promotional activities are more likely if applied to small businesses. While advertising is more suitable for a large company because usually, it will require quite expensive costs from the advertising media provider.
Based on the timing, between advertising and promotion has a definite difference in deadlines. An advertisement has no deadline. Advertisements exist when a product is launched, aiming to introduce it to the general public with various advertising media such as television, newspapers, social media, banners, flyers, and so on.
While promotions always have a deadline. This is because promotion only acts as a stressing tool. The media for promoting and advertising themselves are almost the same, namely using television, newspapers, social media, banners, flyers, and so on. You can learn more about various promotional media in our article here. Get to know various kinds of promotional media for your business.
An example of a promotion is when a new food stall wants to increase its sales turnover, then it carries out promotion by giving a 20% discount to the first ten buyers for one week. After that one-week period runs out, the promo period is over too.
The hope is that such promotions will be carried out to get maximum profit results than these stalls selling their food at normal prices for the next week.
Why Should Businesses Promote?
Of course, a business must promote so that its products can be recognized by many people. Promotional activities help disseminate information to our potential target market. From the information that spreads, you can create new customers for your products.
With the information that is increasingly widespread as well, with promotions we can maintain the stability of our products when the economic presence is sluggish. However, don't just intensify the promotion of a product. You also have to maintain the quality of your product so that you can increase customer loyalty to your product.
Types of Promotion
There are many types of promotions that you need to know if you want to be successful as a businessman, including the following
1. Advertising Promotion
Advertising promotions are non-personal promotions carried out by using various media. An advertiser will convey information to consumers related to the features of the product being sold so that consumers are interested in buying the product
2. Personal Selling Promotion
Personal selling promotion is a promotion that is carried out face to face with prospective buyers. The promoter will make a presentation in front of his client or customer to convince him of his product.
3. Sales Promotion
Sales Promotion is a type of promotion in the form of direct persuasion using various incentives. Sales promotion is a type of promotion that has short-term incentives that are useful to encourage purchases from your customers.
You can use various media such as using coupons, competitions, discounts, and so on.
Publishing is a type of promotion that is carried out to support the company's image, build the company's image and handle or counteract company issues that can harm the company itself. This is done by building relationships with the community (Public Relations).
Benefits of Promotion
There are many things that we can take advantage of for our business if we are diligent in promoting, among others
1. Generating Brand Awareness
Promotion can generate brand awareness for your business. With a good promotional strategy, your product will become more and more recognized by the public, because doing promotions, means that you also socialize your product.
2. To Build A Brand With A Positive Image
When many people recognize your product, and many people have started subscribing to your product, then your next task is to build your brand with a positive image that you give to your customers. This positive image can increase the value of your business.
3. To Get Consumer Loyalty
Consumer loyalty is very important in a business. So that your customers do not move - change places of subscription, try to provide points of reward at certain moments. For example, you will give your customers one portion for free after visiting your shop and eat five portions of food.
4. Means To Educate Consumers
For products that are still new, it is very important for you to carry out promotions, because this can be your step in educating your consumers, such as educating your consumers regarding the benefits of the products you produce.
That's what we can talk about promotion. How? Have you been promoting your product well? Immediately arrange your promotion strategy from now on properly to produce maximum results.
Thank you for reading the articles so far. Hopefully, this article can be useful for you, especially if you are planning to grow your business.