Explain the term- Promotion of product
Promotion: If product is manufactured keeping the consumer needs in mind, is rightly priced and made available at outlets convenient to them however consumer isn't made aware about its price, features, availability etc, its marketing effort may not be successful. Hence promotion is a significant ingredient of marketing mix as it refers to a process of informing, persuading and influencing a consumer to make choice of the product to be bought. Promotion is done by means of personal selling, advertising, publicity and sales promotion. It's done mainly with a view to provide information to prospective consumers about availability, characteristics and uses of a product. It arouses potential consumer's interest in the product, compare it with competitors' product and make his choice. Proliferation of print and electronic media has immensely helped the process of promotion.