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Sales Promotion is an integral part of promotional activities, both internal and external, that are used to stimulate product demand in the consumer market.
Sales Promotion refers to the marketing strategy that helps organizations to improve their sales figures and boost brand awareness.
Digitization and Sales Promotion
Digitization and Sales Promotion refers to the digital coupons offered to the customers. These help a company to reduce paper waste and minimize the cost.
Significant Decision in Sales Promotion
Establishing Objective
Establishing objectives is the primary decision in sales promotion. It can be improving sales figures, motivating the sales force, stabilizing fluctuating sales, encouraging higher volumes, and improving customer loyalty.
Selecting Consumer Promotion Tools
The second step is about selecting consumer promotion tools as it is vital to consider the market type, objectives, cost-effectiveness, and competition for a successful campaign.
Selecting Trade Promotion Tools
Selecting Trade Promotion Tools encourages manufacturers and retailers to maintain stock and promote the brand.
Developing the Program
During this stage, the marketers coordinate across several media so that the message can be circulated at regular intervals throughout the campaign.
Implementing and Evaluating the Program
In this final phase, the marketers consider the lead time and the sell—in time to implement the promotional campaign. They also evaluate the effectiveness of the program by using surveys and questionnaires.
Example – Alibaba, Singles Day
– On November 11 Alibaba offers its consumers a 24-hour shopping bonanza called “Singles Day” filled with heavy incentives and discounts.
Example – Black Friday Sale
– The Black Friday Sale at Amazon is an awaited event for every shopper as goods worth billions are purchased by the customers.
Example – Johnnie Walker’s tie-up with Game of Thrones
– Johnnie Walker’s tie-up with Game of Thrones helped the brand in increasing brand awareness as well as product sales.
This video is on Sales Promotion and it has the following sub-topics.
Time Stamps
0:00 Introduction
00:45 Digitisation and Sales Promotion
01:08 Significant Decision in Sales Promotion
01:11 Establishing Objective
01:34 Selecting Consumer Promotion Tools
01:48 Selecting Trade Promotion Tools
02:00 Developing The Program
02:18 Implementing and Evaluating the Program
02:55 Example Alibaba, Singles Day
03:50 Example Black Friday Sale
04:47 Example Johnnie Walker’s tie-up with Game of Thrones
