What Are The Characteristics Of Sales Promotion?

What unique characteristics do sales promotions have?

Philip Kotler observes – “they have 3 distinctive characteristics.” Communication: They gain attention and usually provide information that may lead the customer to the product.

Incentive: They incorporate some concession, inducement, or contribution that gives value to the consumer..

What are two types of sales promotion?

There are two types of sales promotions: consumer and trade. A consumer sales promotion targets the consumer or end-user buying the product, while a trade promotion focuses on organizational customers that can stimulate immediate sales.

What is sales promotion advantages and disadvantages?

Taking 25 percent off the price of a good without altering its benefits increases the customer’s perception of value. Companies also use sales promotions to achieve other non-revenue-generating objectives. When a new business launches, for instances, promotions are a way to attract customers away from competitors.

What are the 5 promotional tools?

While these five promotional mix elements—advertising, PR, promotions, direct marketing, and personal selling—have been around for decades, the marketing world is constantly evolving.

What are some common types of consumer promotion?

Consumer Promotions – Tactics and TechniquesSales / Promotional Pricing. Introducing and promoting a sale price can encourage multiple purchases of a product within a set timeframe. … Coupons. … Contests & Sweepstakes. … Sampling / Product Demonstrations. … Rebates. … Premiums. … Loyalty Programs. … Trade-ins.

What are the characteristics of promotion?

The presence of several key characteristics can help you determine whether members of your staff may be ideal candidates for promotion.Leadership. Leadership can makes an employee a suitable promotion candidate. … Desire. … Responsibility. … Positive Attitude.

What are the importance of sales promotion?

The main purpose of sales promotion is to boost sales of a product by creating demand, that is, both consumer demand as well as trade demand. It improves the performance of middlemen and acts as a supplement to advertising and personal selling.

What are the tools of sales promotion?

Some of the commonly used tools of sales promotion are as follows:Coupons: … Free Samples: … Price-Off Offer: … Fairs and Exhibitions: … Free Gifts: … Competitions or Contests: … Free Service: … Special Rebate:More items…

What are examples of sales promotion?

Examples include contests, coupons, freebies, loss leaders, point of purchase displays, premiums, prizes, product samples, and rebates. Sales promotions can be directed at either the customer, sales staff, or distribution channel members (such as retailers).

What is a good promotion?

The campaign must be formulated to reach an attainable goal, must be presented in a unique way that engages its audience, and must, throughout its course, showcase the item or service which is its focus. … At its completion, the promotional campaign must bear results.

What is promotion According to Philip Kotler?

Promotion is the process of marketing communication involving information, persuasion, and influence. … According to Philip Kotler, “Promotion includes all the activities the company undertakes to communicate and promote its products to the target market.”

What is promotion and its importance?

The most important purpose that a promotion serves is that it sets a business apart from its competitors. No business will ever need to run any promotions if there wasn’t any competition. You have to stay ahead of your competitors in order for customers to keep doing business with you.

What is a key characteristic of sales promotion?

A sales promotion has an offer, a hook and a deadline without which it will fail. The offer should be something that the prospect would want and finds valuable. A “hook” is something that draws the customer in to make a buying decision.

What is the difference between promotion and sales promotion?

Originally Answered: What is the difference between a sales promotion and a promotion? Any communication aimed at creating a favourable impression about an offering is called promotion. however, sales promotion is essential aimed at asking people to buy a product and an incentive is offered for the act.

What is the purpose of promotion?

The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion. Promotion is also one of the elements in the promotional mix or promotional plan.

What are the 4 types of promotion?

These are personal selling, advertising, sales promotion, direct marketing publicity and may also include event marketing, exhibitions, and trade shows.

What is sales promotion techniques?

The techniques of promotion used are-free samples, contests, coupons, demonstrations, price reductions, counter- display cards, etc. Free samples are distributed among the prospects to arouse interest. Sales contests are conducted to attract new customers or to introduce new products.