While selling something, every business firm wants to highlight their product and services in the market with the best features than its competitors. To meet these goal companies prepare a promotional mix plan of which sales promotion is a branch. This mix also includes advertising, marketing, public relations, which are always interconnected with sales promotion and contribute to the same goal of increasing product or service sales.
The main goal of sales promotion or the entire promotional mix is to sell maximum units of the products and services. It also aims at making the target audience realize the need for the specific product or services being sold. Apart from these, sales promotion has many other objectives to meet, like:
Sales promotion is a ‘pull strategy’ to attract a greater number of customers for a business session. It is made up of two components, consumer promotion, and trade promotion which are, again, made up of minute element as specified below:
This promotional campaign is planned and executed for attracting the target audience groups. Advertisements, business publicity, direct selling, online marketing, etc. are part of it. In this ‘pulling process’, to attract the audience, several deals are thrown from companies, like price drops, discounted coupons, free samples, money refunds and rebates, user incentives, contests, trade shows, etc.
As the name suggests, this sales promotion strategy targets, not the consumers but the dealers, distributors, retailers, etc. It is a ‘push strategy’ in which the target audience receives incentives for pushing the company products to the greater mass. These middlemen called the channel members of the firm. They are the internal stakeholders of the firm, thus no ads or promotions are not required. The advantages these people are offered
normally are trade buying allowance, buyback allowances, point-of-purchase (POP) displays, free merchandise schemes and allowances, gifts and premiums, etc.
It is something that connects both advertising and personal selling. This tool is highly effective in market adversities and crisis. Apart from this, there are a lot of other benefits of sales promotion like:
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Before you promote your products, it is important to understand your customers and their interest as it may vary according to the audience groups. This complete guide to consumer sales promotion will help your promotional activity to aim in an effective way. Thus have a look at the structure and content of this template and we are sure you would find it helpful enough for your sales.
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Every company employ several sales promotion strategies to sell a greater number of products in each business session. Such strategies help to get correct public attention and make good revenue. If you too want to use such strategies, use this template that comes with several ideas you might need for your business. This template structures some of the best sales promotion strategies thus grab it now to reduce your workload.