Promotion of a business means to all those activities that are required to be undertaken to establish a new business unit for manufacturing or distribution of any product or provide any service to the people.
Starts with conceiving an idea of business or discovers an opportunity for doing a business.
Involves ascertain as to whether all the basic requirements such as land, building, raw material, machine, equipments etc. are available or not. T
Whole process is called business ‘promotion’ and the person who does it is called the ‘promoter’.
Role and importance of promoter:
Promoter is a person or group of persons who conceive the idea of setting up a new business
It takes necessary steps to arrange the basic requirements and establish a business, or company and put into operation.
Play an essential role in the promotion of a company.
Conceives the idea of business enterprise and analyses its prospects.
Works out a tentative scheme of organisation, brings together the requisite men, material, machines and money and starts the enterprise.