ENTREPRENEURSHIP

Detailed explanation-1: -A business uses product promotion * to convince prospects to select its products or services instead of a competitor’s. A promotion method businesses use to convince consumers to select its products or services. Institutional promotion fosters a favorable image for the company.

Detailed explanation-2: -A promotion strategy is a plan to create or increase demand for a product. It outlines the tactics you’ll use to raise awareness about your product and get people interested in buying it. The goal of a promotion strategy is to introduce potential customers to your product and convince them to make a purchase.

Detailed explanation-3: -Word-of-mouth marketing (WOM marketing) happens when consumers talk about a company’s product or service to their friends, family, and to others with whom they have close relationships.