Promotion

Promotion is a way of spreading information about a brand , company or specific

goods and services. Common types of promotion are:

● Paper coupon- given to customers to reward their stamps loyalty when

making purchases. Stamps can then be cashed in when making new
purchases.
● Coupons Vouchers– enabling a customer to claim a discount on goods
purchased.
● Loyalty points- Points accumulated In proportion to money spent. These are
often recorded electronically and can be cashed In on future purchases.
● Rebates- A sum of money paid by the seller as a reduction, refund or return
on what has already been paid by the buyer.
● Bundling Goods and services can be offered together in bundles, such as the
purchase of a cable television including a year's subscription to a selection of
channels.
● Loss leaders- are products that are sold by a company at a loss to encourage
buyers to purchase other products made by the company, or to encourage
them to make future purchases of the good when it is no longer sold at a loss.

Social media is another powerful way that companies can promote their products.
This involves using social media sites such as Facebook, Instagram, TikTok Twitter
and YouTube to generate social media activity.

Public relations {PR) involves managing the 11ow of Information from an

organisation to its "public" In order to build up the reputation and Image of the
company. Examples might include sponsoring prestigious events such as awards for
young business entrepreneurs, sponsoring sporting events, and providing business
entertainment for important clients.