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Sales promotion is one of the elements of the promotional mix. The primary elements in the promotional mix are advertising, personal selling, direct marketing and publicity / public relations. Sales promotion uses both media and non-media marketing communications for a predetermined, limited time to increase consumer demand, stimulate market ...
The purpose of a promotion and thus its promotional plan can have a wide range, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations or creation of a corporate image. [2] The term 'promotion' tends to be used internally by the marketing function.
I. Institute of Sales Promotion. International Convention to Facilitate the Importation of Commercial Samples and Advertising Material.
Promotion: Promotion encompasses all the activities a company undertakes to communicate the value of its product or service to the target audience. This includes advertising, sales promotions, public relations, social media marketing, and any other methods used to create awareness and generate interest in the offering. [ 1 ]
Advertising. Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to present a product or service in terms of utility, advantages and qualities of interest to consumers. It is typically used to promote a specific good or service, but there are a wide range of uses, the most common ...
The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
To convert interest into sales, different promotional tools such as personal selling or sales promotion may be more useful. Many authors caution against using sales or market share objectives for marketing communications or advertising purposes. [73] Communications objectives might include such things as to: increase purchase; encourage trial
Promotional mix. In marketing, the promotional mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals. [1][2][3][4][5] It has been identified as a subset of the marketing mix. [1] It is believed that there is an optimal way of allocating budgets for the different elements within the promotional mix to ...