The Nature of Promotion

• Promotion Mix - various promotion strategies businesses use in its promotional strategy
• Opinion leaders - individuals who have a high influence with the influence of their social network (influences, celebrities)
• Public Relations - promotion strategies to build mutual relationships between the company and the public (e.g media relations)
• Sales Promotion - dynamic pricing, tailored experiences, one-time deals to increase sales
• Advertising - producing advertisements for commercial products or service
• Publicity - bringing awareness towards a business
• Personal Selling - where companies promote themselves directly to their consumers (e.g costco samples)
• Market Segmentation - where businesses target a certain group of people (e.g gender segmentation - targeted to men or women)
• Corporate Social Responsibility - the responsibilities that companies and businesses should follow in order to maintain positive reputations and image
• Corportate Social Responsibility:
• Corporate Social Responsibility:

  • Philanthropic - contributing to charities with donations and volunteering
  • Ethical - making sure that their company is doing the right thing morally
  • Legal - making sure they comply with the law and regulations so it is safe and fair
  • Economic - ensuring their business remains profitable and financially stable