Promotion is one of the four elements of the marketing mix. The other four elements are place, pricing, and product.
Promotion refers to entities involved in publicizing and making a product or service available to the consumer. There are two kinds of promotion: above the line promotion and below the line promotion.
Above the Line Promotion
Above the line promotion involves the participation of the media. This may be done through television and radio commercials, or advertisements n newspapers, on the internet, and even those sent via SMS on mobile phones. Under this type of promotion, an advertising agency takes charge of generating and placing the advertisement.
Below the Line Promotion
On the other hand, below the line promotion involves more covert kinds of publicity. Trade shows and sponsorships fall under this category.
Promotional plans may include several objectives. The most common of these would be an increase in sales. Others might involve the promotion of an image or the introduction of a new product or brand.
Types of Promotional Strategies
There are two main promotional strategies. The objective of a “push” strategy is to sell as much as possible to consumers. The product passes from wholesalers to retailers, and on to consumers. In contrast, a “pull” strategy focuses more on getting the consumer to demand a certain product.
Other Meanings of Promotion
An alternative definition for the term “promotion” could be an offer, usually made available for a limited period, which aims to boost sales by providing incentives such as price discounts, add-ons, and other benefits. It could also include more intensive advertising and offering free gifts.