Objectives of Sales Promotion
Sales promotion acts as a link between personal selling and advertising to make company’s sales more effective for a short duration of time. The main objective of sales promotion are:
Increase publicity – The main objective of sales promotion done by the business organization is to increase its sales for a short duration of time. This is a marketing strategy that can be done by increasing its publicity. The publicity of the company or its product can be done through media. Media on the order hand does publicity with the help of press and advertisement.
Customer satisfaction – Sales promotion is done in order to provide all information to the customers through various advertising agencies. This is done in order to make the product information available to customers so that there can be a proper customer satisfaction.
New customers – Sales promotion is also done with the objective of attracting new customers. Sales promotion includes all activities that will attract its customers to be the client of its organization.
Importance of sales promotion
Provides information – The importance of sales promotion includes its feature of providing information of its particular product to its customers. Sales are increased when its customers are made aware about the product. Marketing activities can be easily done after the information is sent across.
Increases Demand – The demand for the product is increased with the help of sales promotion. As discussed above, the sales promotion activities help in creating a new demand for the product in the market.
Marketing control – Marketing control is also facilitated by the sales promotion. It becomes very important to keep the control over the performance of situations of the market.
Methods of sales promotion
There are various methods of sales promotion. Some of its methods are as follows:
Coupons – One of the methods of sales promotion is a coupon. It can be termed as a certificate given to a person that allows him or her to a special discount while purchasing some special products with some terms and conditions. These coupons may be distributed among various people through emails, newspapers, magazines, etc. These coupons are reimbursed by the manufacturers from whom the dealers have purchased them for the value of coupons.
Free Samples – This method is adopted by manufacturers when a new product is brought into the market for a first time. This is a very successful method of sales promotion as in this method, the manufacturer distributes free samples of that product to various people as a means of promotion.
Money-Refund Offer – Money refund offer method of a sales promotion is when a manufacturer promises to refund the price of the product to the customer if the customer is not satisfied with the product. The good and genuine intentions of the manufacture are seen under this method.
Premium Offer – Premium offer is a technique of sales promotion that has an offer on a product, which is some additional item would be given for free with the purchase of the main product.
Prize Contests – This is a type of sales promotion that may be organized through various mediums. The participants of these contests need to answer some questions. From those answers, the best answer is given an award.
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