Even if customer satisfaction has risen to the top of the priority list for businesses, there are times when they need to boost demand and enhance product sales in the short run. This is where the role of sales promotion comes in.
Sales promotion is one of the elements of the promotional mix. Advertising, personal selling, direct marketing, and publicity/public relations are the main components of the promotional mix. A sales promotion is a marketing/advertising approach in which a company or business uses short-term campaigns to generate interest in a product, service, or another offer. Sales promotions are primarily intended to stimulate purchasing behavior or to cause an increase in purchases in order to meet a benchmark or target, but they can have far-reaching implications beyond immediate sales. A sales promotion may help build brand loyalty and passion, boost sales and income, and provide useful insights into customer behavior and price sensitivity.
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