What Is Sale Promotion? Definition of Sale Promotion, Sale Promotion Meaning and Concept
Sales promotions are those tools and strategies in the commercial sector dedicated to the presentation and expansion of knowledge of a product.
It is about publicizing a new product or changes in price, quality, size of an existing product, in order to encourage consumers to buy our product.
Sales promotion belongs to the marketing sector , since this is in charge of creating those activities and means aimed at stimulating and increasing the demand for a product.
The concept of sales promotion is very broad, since it largely depends on all the variables that are contained within the commercial area, for example price , production, quality... So these will change depending on whether what we want is to launch a new product to the market (advertising, marketing, free trials, exposure to the public) or what we want is to relaunch an already known product and increase sales (lower price, give a larger quantity...).
4p's of marketing
Types of promotions to stimulate demand
Marketers are responsible for, once market needs have been studied, launch promotions to stimulate and improve consumer demand . This can be done through several means that we all know:
- Price promotion : A reduction in the price of a product or service temporarily or indefinitely, with the aim of reviving the interest of the applicants
- Promotion in quantity : Market more quantity at the same price. 2×3 promotions or gifts taking products are good proof of this.
- Promotion in after-sales service : It is a feature in the differentiation, since although the market has heterogeneous products, they all try to meet the same needs, so a differentiation feature in the quality of the product is to offer an optimal service.
- Promotion in duration : Other tools for attracting and engaging the client is to offer a lasting relationship between client and producer, offering discounts and better services to the first in exchange for maintaining a loyal client to the second.