Promotion is one of the four elements of marketing mix and includes advertising, sales promotions, public relations, and personal selling. The promotional mix specifies how much attention and budget to allocate to each of these elements. The objectives of a promotional plan can include increasing sales, creating brand equity, or achieving competitive advantage. Sales promotions specifically aim to boost short-term sales and are often consumer-focused, like coupons or discounts. Factors like the product, marketing strategy, and buyer readiness influence how companies structure their promotional mix.