Promotion: n. motivating and helping a subset(s) to grow in importance frequently by increasing (rank and/or privilege) and/or wealth
Getting promoted means that you have become more important and that is reflected in an increase in rank, the acquisition of a privilege, or an increase in salary or commission.
In school grade promotion is a bad example of being promoted for achieving a minimum standard of learning skill even though the reality is often that you are being promoted merely because you have had another birthday and are older by a year.
Unless you have achieved a top rank not being promoted for a very long time frequently means that you have ceased to grow in your job and are stagnating or doing the same basic thing year in and year out. Not everyone craves promotions because with a promotion frequently comes more responsibility and more stress which some humans just want to avoid.
Product promotions or ad campaigns are designed to increase product importance in the market place.
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