What is promotion in the workplace?
The advancement of an employee within a company position or job tasks. A job promotion may be the result of an employee's proactive pursuit of a higher ranking or as a reward by employers for good performance. Typically is also associated with a higher rate of pay or financial bonus.
Promotional strategies and marketing go hand in hand. Marketing your brand or product will include different aspects of manufacturing, promoting and selling products to the customers. Promotion is a key element in putting across the benefits of your product or service to the customers.
- Small company promotions play many roles in marketing, designed to produce certain desired effects. The methods used in achieving these effects may vary, depending on a company's goals, priorities, markets and industries. Promotions typically include advertising, publicity, sales promotions and other tactics.
- The promotional mix is one of the 4 Ps of the marketing mix. It consists of public relations, advertising, sales promotion and personal selling. In this lesson, you'll learn how a marketing team uses the promotional mix to reach company objectives and goals.
- A Promotional Plan is an integral part of executing your marketing strategies and ensuring you meet your objectives for the year. Without it, all the hard work you put into making that dynamite Marketing Plan could go to waste.
Promotion or career advancement is a process through which an employee of a company is given a higher share of duties, a higher pay-scale or both. It boosts the morale of promoted employees, increases their productivity and hence improves upon the overall profits earned by the organization.
- Step 2: Multiply the employee's current pay rate by that decimal. If your employee makes $15/hour, then you have: 15x.03=.45. So your employee's increase is 45 cents per hour. For an employee who makes a salary of $45,000/year, then you have: 45,000x.03=1,350.
- Suppose that your target bonus is 20 percent of a base salary of $100,000 and you performed at the maximum performance level. That means you would earn 200 percent of that 20 percent bonus, or 40 percent. In most industries, the target bonus percentages are similar, and depend on salary.
- In comparison, the median annual performance-based bonus is worth just above 11 percent of an employee's annual salary. For someone making $40,000 a year, that's about $4,400 -- nearly 10 times as much as the typical cash holiday bonus of $450.
A set of rules and guidelines set forth by a company or organization that outlines how employees are to interact with potential customers in the promotion of a good or service.
- There are four basic types of promotion: 1) Advertising 2) Sales Promotion 3) Personal Selling 4) Publicity. Promotion is any form of communication a business or organization uses to inform, persuade, or remind people about its products and improve its public image.
- Advertising offers the following advantages.
- (1) Introduces a New Product in the Market:
- (2) Expansion of the Market:
- (3) Increased Sales:
- (4) Fights Competition:
- (5) Enhances Good-Will:
- (6) Educates The Consumers:
- (7) Elimination of Middlemen:
- (8) Better Quality Products:
- This form of advertising is designed to persuade or inform consumers and comprises two key components: its message and its medium.
- Print Promotions. The breadth of print mediums available to promote a business is broad.
- Television Advertising.
- Radio Advertising.
- Online Marketing.
- Mobile Application Marketing.
Updated: 26th November 2019