Importance Of Sales Promotion In The Philippines
The American Marketing Association (AMA), in its Web-based "Dictionary of Marketing Terms," defines sales promotion as "media and non-media marketing pressure applied for a predetermined, limited period of time in order to stimulate trial, increase consumer demand, or improve product availability."
Sales promotion is one level or type of marketing aimed either at the consumer or at the distribution channel (in the form of sales-incentives). It is used to introduce new product, clear out inventories, attract traffic, and to lift sales temporarily. It is more closely associated with the marketing of products than of services.
The need for promotion arises from the intensity of competition. Sellers must somehow attract customers' attention.
Sales promotion is generally broken into two major categories: consumer-oriented and trade-oriented activities.
The consumer-oriented promotion tools are aimed at increasing the sales to existing consumers, and to attract new customers to the firms. It is also called pull strategy. The consumer can take the benefit of promotion tools either from the manufactures or from the dealer, or from both. And the trade-oriented sales promotion programs are directed at the dealer network of the company to motivate them to the sell more of the company’s brand than other
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It is very stimulating short-term sales, especially when the discount provided is genuine one). This method is particularly effective here because of the present economy the country is going thru. Any kind of relieve from paying full price is well taken. Taxes have been raise in an economy that cannot take it, discounts on items that are a must in every household, as well as items that people just want, become a big and easy sale. I can tell you this from personal experience. This toll even works great on vacation
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