Promotion

The Need for Promotion

A company can produce a good quality product, price it appropriately, and make it available at convenient selling points — yet the product may still not sell well. Why? Because customers simply do not know about it. Without proper communication, potential buyers remain unaware of the product's existence, its features, or how it can satisfy their needs. Even if they know about it, they may not be convinced of its utility and benefits.

Promotion is the use of communication with a twin objective: to inform potential customers about a product and to persuade them to buy it. It is a crucial element of the marketing mix, through which marketers use various communication tools to encourage the exchange of goods and services in the market. …