B Com Exam > B Com Notes > Marketing Management > Importance of Promotion Decisions - Marketing Management
Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com PDF Download
Nature and Importance of Promotion
Promotion is a form of communication with an additional element of persuasion to accept ideas, products, services and hence persuasive communication becomes the heart of promotion, the third element of marketing-mix.
Promotion is an important marketing strategy and is the sparkplug of the marketing-mix. Promotion helps people know that the right product at right price is available at the right place. In a competitive market, without promotion, practically no sale is effected. Promotion is the process of marketing communication to inform, persuade, remind and influence consumers in favour of a product or service.
(a) Promotion has following three specific purposes:
(i) It communicates marketing information to consumers, users and resellers.
(ii) It persuades and convinces the buyer and influences his/her behavior to take the desired action.
(iii) Promotional efforts act as powerful tools of competition, providing the cutting edge of its entire marketing programme.
(b) Definition and Importance:
Promotion is defined as the co-ordinated self-initiated efforts to establish channels of information and persuasion to facilitate or foster the sale of goods or services, or the acceptance of ideas. Thus promotion is persuasive communication to inform potential customers of the existence of products, to persuade and convince them that those products have want satisfying capabilities.
Promotion offers the communication of the benefits to consumers who buy a bundle of expectations to satisfy their economics, psycho-social wants and desires. Promotion is persuasive communication and also is a tool of competition. It is a form of non-price competition.
Promotion is responsible for awakening and stimulating consumer demand for a Product or Service. It can create and stimulate demand, capture demand from rivals and maintain demand even against stiff competition. While speaking in favour of promotion, it is taken, for granted that the product has the capacity to satisfy consumer expectations and can fill their wants and desires.
The document Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com is a part of the B Com Course Marketing Management.
All you need of B Com at this link: B Com
|
54 videos|51 docs|22 tests
|
FAQs on Importance of Promotion Decisions - Marketing Management - Marketing Management - B Com
| 1. What is the importance of promotion decisions in marketing management? |  |
Ans. Promotion decisions play a crucial role in marketing management as they help create awareness and generate demand for products or services. Effective promotion strategies can increase sales, enhance brand reputation, and ultimately contribute to the overall success of a business.
| 2. How do promotion decisions impact a company's marketing strategy? | |
Ans. Promotion decisions directly impact a company's marketing strategy by determining how the company communicates with its target audience. The choice of promotional channels, message, and timing can significantly influence the effectiveness of a marketing campaign and the overall success of the company's marketing efforts.
| 3. What factors should be considered when making promotion decisions? | |
Ans. When making promotion decisions, several factors should be considered. These include the target audience, budget, marketing objectives, competitive landscape, product or service features, and the company's overall marketing strategy. By carefully analyzing these factors, businesses can make informed decisions about how to promote their offerings effectively.
| 4. How can promotion decisions influence consumer behavior? | |
Ans. Promotion decisions can influence consumer behavior by creating awareness, providing information, and influencing perceptions about a product or service. Well-executed promotions can attract customers, encourage trial, and persuade consumers to make a purchase. They can also create a sense of urgency or exclusivity, driving consumers to take immediate action.
| 5. What are some common promotion strategies used in marketing management? | |
Ans. Some common promotion strategies used in marketing management include advertising, public relations, sales promotions, personal selling, and direct marketing. Each strategy has its own benefits and objectives, and businesses often use a combination of these strategies to effectively reach their target audience and achieve their marketing goals.
Related Exams
About this Document
|
1.6K Views |
|
4.66/5 Rating |
|
Dec 23, 2024 Last updated |
Document Description: Importance of Promotion Decisions - Marketing Management for B Com 2024 is part of Marketing Management preparation.
The notes and questions for Importance of Promotion Decisions - Marketing Management have been prepared according to the B Com exam syllabus. Information about Importance of Promotion Decisions - Marketing Management covers topics
like and Importance of Promotion Decisions - Marketing Management Example, for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Importance of Promotion Decisions - Marketing Management.
Introduction of Importance of Promotion Decisions - Marketing Management in English is available as part of our Marketing Management
for B Com & Importance of Promotion Decisions - Marketing Management in Hindi for Marketing Management course.
Download more important topics related with notes, lectures and mock test series for B Com
Exam by signing up for free. B Com: Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com
Description
Full syllabus notes, lecture & questions for Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com - B Com | Plus excerises question with solution to help you revise complete syllabus for Marketing Management | Best notes, free PDF download
Information about Importance of Promotion Decisions - Marketing Management
In this doc you can find the meaning of Importance of Promotion Decisions - Marketing Management defined & explained in the simplest way possible. Besides explaining types of
Importance of Promotion Decisions - Marketing Management theory, EduRev gives you an ample number of questions to practice Importance of Promotion Decisions - Marketing Management tests, examples and also practice B Com
tests
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
mock tests for examination
,Extra Questions
,Sample Paper
,ppt
,Free
,Objective type Questions
,Important questions
,video lectures
,Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com
,practice quizzes
,Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com
,MCQs
,Semester Notes
,Importance of Promotion Decisions - Marketing Management | Marketing Management - B Com
,Summary
,Exam
,study material
,past year papers
,Previous Year Questions with Solutions
,Viva Questions
,shortcuts and tricks
;
Additional Information about Importance of Promotion Decisions - Marketing Management for B Com Preparation
Importance of Promotion Decisions - Marketing Management Free PDF Download
The Importance of Promotion Decisions - Marketing Management is an invaluable resource that delves deep into the core of the B Com exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Importance of Promotion Decisions - Marketing Management now and kickstart your journey towards success in the B Com exam.
Importance of Promotion Decisions - Marketing Management
The importance of Importance of Promotion Decisions - Marketing Management cannot be overstated, especially for B Com aspirants.
This document holds the key to success in the B Com exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Importance of Promotion Decisions - Marketing Management Notes
Importance of Promotion Decisions - Marketing Management Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Importance of Promotion Decisions - Marketing Management.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Importance of Promotion Decisions - Marketing Management Notes on EduRev are your ultimate resource for success.
Importance of Promotion Decisions - Marketing Management B Com Questions
The "Importance of Promotion Decisions - Marketing Management B Com Questions" guide is a valuable resource for all aspiring students preparing for the
B Com exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Importance of Promotion Decisions - Marketing Management on the App
Students of B Com can study Importance of Promotion Decisions - Marketing Management alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Importance of Promotion Decisions - Marketing Management,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Importance of Promotion Decisions - Marketing Management is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup