A plan which provides inducements to potential purchasers of products and/or services is Sales promotion.
What is Sales promotion?
- One component of the promotional mix is sales promotion.
- Advertising, personal selling, direct marketing, and publicity/public relations make up the bulk of the promotional mix.
- In order to boost customer demand, generate market demand, or improve product availability, sales promotion employs both media and non-media marketing communications for a predetermined, brief period of time.
- Examples include giveaways, coupons, discounts, point-of-purchase displays, premiums, prizes, free samples of goods, and rebates.
- Sales promotion might target customers, salespeople, or anyone in the distribution chain (such as retailers).
- Consumer sales promotions are marketing campaigns that are aimed at consumers.
- Trade sales promotions are advertising campaigns aimed at wholesalers and retailers.
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