Promotion refers to the activities the firm takes to communicate the merits of its product t its target market. Ultimately, the goal of these activities is to persuade people to buy the product. There are a number of these activities, but most start-ups have limited resources, meaning that they must carefully study promotion activities before choosing the one or ones they’ll use.
Promotion is the function of informing, persuading, and influencing a purchase decision.
Promotion is a movement by a person into a position with higher pay and greater responsibilities. Promotions reward competence and ambition. They act as incentives to perform above the average in one's present job and to expand one's abilities, aptitudes, and knowledge through additional training.
Promotion decisions, even though they should be rewards for performance, often are influenced by other factors. Federal and state laws affect the ways in which promotions can be made. Affirmative action programs may dictate who or what kind of person gets the promotion. Promotion of the best qualified and most eligible may be blocked by seniority rules and the union agreement. Regardless, promotions should be based as much as possible on performance.
The communication of favorable, persuasive information about a firm or product in order to influence potential buyers.