Sales promotion consists of short-term incentives to the buyers to encourage them to purchase a product or service. It adds an element of urgency in the customers’ buying intentions. Sales promotion tries to tempt the customers to buy now. It also inspires the customers to buy more. Companies launch some sales promotional offer to pep up sales periodically. It is an effective short term sales improvement tool, using PUSH method of marketing, i.e. the product is pushed to the customer, luring him through some monetary benefit to buy it. Discounts, Schemes, FREE Samples, FREE Offers, Contests etc. are some examples of sales promotion.
(Note: Sales promotion must not be confused with Promotion (as part of 4Ps of Marketing Mix). Promotion is much wider term covering all communication options including sales promotion. Sales promotion is one specific tool in Promotion mix, which is used to boost sales fast.)
Types of such sales promotion are:
- If the sales promotion offer is for the end consumer, it is called Consumer Promotion, i.e. the end consumer gets the benefit of the offer.
- If the offer is for our sales staff, it is called Sales Force Promotion, i.e. the sales team gets the benefit of the offer.
- Similarly, if this offer is for the Retailers, Dealers or Distributors, it is called Trade Promotion, i.e. the channel partners get the benefit of the offer.
(Expert advice to GROW your business wherever you are, whenever you want.
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