[rvba]

The funny thing is that in most consumer faced products advertising is generally outsourced to a media agency that does all the work: both creative and media buying (say TV ads, press).

Obviously for software and B2B it is a bit different, because budgets are often smaller and there is more pressure for A/B testing if there is any Return on Investment.

For me "promotion" is more like "price strategy", but they put the word into the 4P since it fits nice.