Promotion (marketing definition) is the advancement of a product, idea, or point of view through publicity personal selling, sales promotion and/or advertising. It is a form of communication by the manufacturer to the buyer telling about his product, idea or point of view.
Promotion (Human
Resource definition) is the appointment of a
current, active classified employee to a position in a higher salary range than
the one to which the employee is presently assigned. A promotion is also
advancement to a position that requires performing accountabilities of
significantly increased complexity or responsibility
Dry promotion is an increase in responsibility and seniority or status
without an increase in pay. It's rarely effective because people generally feel
resentful that so much extra is being asked but not recognized.
Horizontal
Promotion: is the appointment of a current,
active classified employee to a similar position from one place to another. It
is akin to a transfer. It could entail an increase in pay but that increase
could be due to the house rent differential between the two cities involved. In
India when one moves from grade B to Grade A city the HRA allowance goes up by
10%.
The word Premium has many meanings. Savor these:
Premium can be used to mean high price. For example – “Basically in
the future if you want good quality water you will have to pay a premium price”.
Premium can be used to mean best.. For example – The Price
for Premium technology will never go
down.
Premium can be used to mean bonus. Premiums are sales promotional offers that are given in
marketing. It is something that is given extra. For
example – 20% weight
extra is given at the same price.
Premium
can be used to mean compensation or payment or
allowance. In insurance premium is the regular payment that has to be paid to
insure the risk. For example -- the
yearly premium for a Money Back Life Insurance Policy.
