What do you mean by sales promotion?

What do you mean by sales promotion?

A sales promotion is a marketing strategy in which a business uses a temporary campaign or offer to increase interest or demand in its product or service. There are many reasons why a business may choose to use a sales promotion (or ‘promo’), but the primary reason is to boost sales.

What is sales promotion marketing PDF?

Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers to stimulate immediate sales. These efforts can attempt to stimulate product interest, trial, or purchase.

What is Philip Kotler definition of marketing?

Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential.

What is sales promotion and its types?

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 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 is sales according to Philip Kotler?

Philip Kotler. Marketing and sales deals with the exploration and understanding of customer needs, with the response to them through the development, production and sales of goods and services (including innovation implementation).

When did Philip Kotler define marketing?

Kotler, Armstrong, Saunders and Wong, (2001:5), define marketing as: “A social and managerial process by which individuals and groups obtain what they need and want though creating and exchanging products and value with each other.”

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