Importance Of Sales Promotion Strategy
A sales promotion strategy is an activity that is designed to help boost the sales of a product or service. This can be done through an advertising campaign, public relation activities, a free sampling campaign, a free gift campaign, a trading stamps campaign, through demonstrations and exhibitions, through prize giving competitions, through temporary price cuts, and through door-to-door sales, telemarketing, personal sales letters, and emails.
The importance of a sales promotion strategy cannot be underestimated. This is because a sales promotion strategy is important to a business boosting its sales.
When developing a sales promotion strategy for your business, it is important that you keep the following points in mind.
• Consumer attitudes and buying patterns
• Your brand strategy
• Your competitive strategy
• Your advertising strategy
• Other external factors that can influence products availability and pricing.
There are three types of sales promotion strategies:
• A push strategy
• A pull strategy or
• A combination of the two
A Push Strategy: A ‘push’ sales promotion strategy involves ‘pushing’ distributors and retailers to sell your products and services to the consumer by offering various kinds of promotions and personal selling efforts. What happens here is that a company promotes their product/services to a reseller who in turn promotes it to another reseller or to the consumer. The basic objective of this strategy is to persuade retailers,
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