Sales promotion is a powerful tool to increase sales volume. It is used by producers to encourage current customers to buy more through different promotional methods such as premium, price reduction, competition, etc. The main objective of sales promotion is to achieve a change in the pattern of demand for products and services. It also provides important marketing information to potential buyers, builds customer loyalty, markets new products, and increases long-term market share.
Display is a powerful tool to improve sales, as it attracts the attention of consumers who are passing through shoppers or shop window shoppers. Screens serve as reminders, encourage unplanned purchases, and increase store traffic. Sales promotion is part of the promotion element, which is one of the four Ps of the marketing mix. The overall objective of the promotion is to raise awareness among consumers about the products and services offered and why they add value. Sales promotion also aims to promote products and services, but encourages immediate buying with incentives. In-store promotions are any marketing or sales promotion that takes place in a traditional retail location.
They are highly effective marketing tactics designed to attract customers to your physical store and build brand or product awareness. If the promotion objectives are consumer- and trade-oriented, sales promotion strategies focus on different consumer promotions and trade agreements. Using sales promotion techniques when offering incentives that are not offered by others can lead customers to the store to cover their vacation lists. While it may seem misleading that “in-store” promotions use print and online advertising, this is one of the most effective ways to drive traffic to your business location. Marketers can develop an appropriate sales promotion to achieve the goal of reducing the negative impact on sales, if the price of the product was Rs.
Sales promotion objectives must be specific, measurable, clear and concise, practical and realistic, affordable and achievable. The holiday season is usually a time when a store can work to increase sales due to the overall increase in traffic from holiday shoppers in general. There are several advertising methods that can be used to target existing customers once they are already in your store. Reactive sales promotion objectives are developed in response to an unfavorable market situation or when the objectives are essentially short - term. In the case of the consumer sales promotion program, an attempt is made to reach the consumer at home or in a retail store. The objectives of sales promotions range from rewarding customers to convincing them to stay away from the competition.
Retailers' goals may be to bring new items, encourage off-season shopping and compensate for competitive promotions, build brand loyalty, and so on. While these examples of in-store promotions can be very lucrative and may seem simple to do, it's important to take the time to plan and calculate the cost of the promotion to ensure you receive a good return on investment. Let's first look at an in-store promotion strategy that uses Massage Envy, the leading massage therapy franchise in the United States. This strategy involves using print and online advertising methods such as coupons, flyers, email campaigns, social media posts, etc., as well as promotional events such as product demonstrations or special offers.
