Theories Of Sales Promotion

The promotionPromotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. The pace and creativity of some promotional activities are almost alien to normal business activities.The cost associated with promotion or advertising goods and services often represents a size-able proportion of the overall cost of producing an item. However, successful promotion increases sales so that advertising and other costs are spread over a larger output. Though increased promotional activity is often a sign of a response to a problem such as competitive activity, it enables an organization to develop and build up a succession of messages and can be extremely cost-effective.

“Promotion refers to the advertising and selling part of marketing. It is how you let people know what you’ve got for sale. The purpose of promotion is to get people to understand what your product is, what they can use it for, and why they should want it.”

Promotion is a way company communicates messages on what the pruct does and what does the product can offer customers. It includes below elements:

Explain the role of promotion within the marketing mix for a selected product or service.

The products that people buy are promoted to bring in new consumers. Promotion requires an organization to have a lot of time. Also a promotion should be clear and t o the point.

Promotion Decision- Retailer’s use and or all five promotions tools- advertising, personal selling, sales promotion, public relations

There are uncountable benefits of providing discount and offer on various goods to boost the sales revenue. First and foremost, reputation could be the significant factor to be considered. If the company is new in the market and want to build credibility to gain customers trust, they surely have to provide something exciting to customers in this case consumer will always be attracted

Multiple targeted promotion is used to lure customers. For example Single Use Promotion code (SUPC) is used specifically to target customers based on activity like abandoned cart, checkout drop, product view, customer review lookup etc.,

The main aim of a promotion is to persuade, inform and make people more aware of a company’s brand, as well as improving the overall sales figures. Advertising is the most widely used form of promotion, and can be through the media of TV, radio, journals, cinema or outdoors (billboards, posters). The specific sections of society being targeted will affect the types of media chosen, as will the cost. If you were a toy manufacturer, you might want an advertising spot during children 's TV. If you ran a local restaurant, you might choose a local paper or radio. A small or local business would not usually advertise on TV, because it is very expensive. Sales promotion is designed to encourage new and repeat sales. Loyalty cards, free gifts, competitions and voucher schemes are the most popular. Companies use sponsorship and public relations to improve their image, notably through financing sports, the arts and public information services.

Trade promotion is defined as the process of planning, budgeting, presenting and executing incentive programs, which occur between the manufacturer and the retailer to enhance sales of specific products. These promotions help the manufacturer or channel member to push the product through the distribution channel. (Clow, & Baack, 2014.) For example, a manufacturer like that of Hot Fire pays a retailer to feature the product in the retailer’s weekly newspaper advertising, not to mention covering expenses to build retailer product promotional displays within the store. Both tactics are considered trade promotions. Before any consumer promotions can be directed to the end-user with

Promotional strategy can be described as the function of notifying, persuading, and influencing the decisions of a customer regarding a particular product and/or service. Notably, certain promotional strategies are geared towards creating primary demand or desire for a general product category. The most common objectives of the use of promotional strategies across organizations include creating the primary demand for a product, expanding markets, maintaining the current market position, and presenting a corporate view on a public matter. The other important aspect in the marketing mix is developing an appropriate pricing strategy for the product and/or service. The main objective a suitable pricing strategy is to ensure that the product and/or service are provided at reasonable prices while the

It is also generally short-lived; one off incentives intended to provide consumers with that last push to buy. This is the last traditional component of the marketing communication mix that is discussed as part of the marketing communication process. Sales promotion simply refers to purchase incentives that you provide your customer with. These can assume a number of forms including offering free goods or services, coupons and vouchers, gifts and prizes, discounts, money-off, competitions, samples, financial incentives, charitable promotions and any other value-add over and above your standard product or

Promotion refers to the act of communicating the benefits and value of your product to consumers. It then involves persuading general consumers to become customers of your business using methods such as advertising, direct marketing, personal selling and sales promotion

Promotion – Promotion means making customers aware about your products and introducing the customers with the benefits which they can get by buying their products. They can do advertisements, direct marketing and sales promotion for the promotion of the product.

Promotion is an aspect of the marketing mix that has great importance. In order for our product to be successful, the promotion we use will be very vital. This is because of the fact that the method of promotion we use for the product can help to differentiate our product from other products which makes it unique and outstanding amongst other brands. Moreover, using the right promotion can be used as a way to persuade consumers of our product that they made the right choice.