LESSON 2: PROMOTION

promotion

involves presenting the products or services to the public and how these can address the public's needs, wants, problems, or desires.

advertising

This is a type of communication that influences the behavior of a customer to choose the product or service of the entrepreneur over the competitors.

selling

This is the act of trading a product or service for a price or a fee.

Sales promotions

These are short-term promotional gimmicks wherein practical incentives and appealing activities are incorporated to entice the customers to buy the product or avail of the service. These are also called "below-the-line" promotions. These are normally implemented when an entrepreneur needs to reach a certain sales quota to either recover investment or achieve better profitability.

Public Relations

These are image-building initiatives of the entrepreneur to make the name of the business reputable to stakeholders, such as the target customers, government agencies, business partners, media, and the public. Unlike advertisements, this do not directly promote products or services.