Both videos have something in common because the end product is to promote your business by passing out vital information to attract your target audience.
Corporate videos are intended to describe a company (history), future aspirations without describing a particular product. They also describe the mission statement of a company to their community. Corporate video production often comes to play when the company is looking to expand to new markets or try to sell its corporate culture to prospective customers.
Promotional videos, on the other hand, are used to sell a product or service. These videos are also used for marketing an event or an attraction. A smart promo video can create a buzz about your product by highlighting the reasons why a product is useful, why a consumer needs it, and why it might be so important.