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What is Sales Promotion in marketing?
In marketing, promotional mix has five aspects: Sales Promotion, Advertising, Direct Marketing, Personal Selling and Public Relations. Sales promotions are carried out through marketing communications. These communications are carried out for a pre-fixed time frame in order to boost consumer demand, or increase demand of the market and also to develop product availability facilities. Some of common examples of sales promotion are: product samples, contests, prizes, rebates, etc.
Sales promotions are however of three main types: Consumer market directed, Trade market directed and business-to-business market directed. Consumer market directed sales promotions are targeted towards consumers while, trade market direction promotions are targeted towards wholesalers or retailers. A lot of communications activities are used in these cases which help to encourage sales immediately. These methods can improve products or purchases. They can even simply try to stimulate interest of the consumers and the number of trials made for it. Main functions of these methods are to retain existing customers as well as to bring in new customers. Both outer and inner actions are carried out to take appropriate steps for the market opportunities that are disclosed for increasing sales. Role of sales promotions in marketing have been discussed in details by our Kinds of Sales Promotion Assignment Help professionals.
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