Question

Explain any two techniques of Sales promotion, with an example of each.

Answer 1

Sales promotion involves short-term incentives designed to stimulate product or service purchases. Two prevalent methods include:
1. Price Reductions: Businesses lower prices to attract consumers.
Example: A fashion retailer advertises a "half-price sale" during holiday periods to increase revenue.
2. Complimentary Product Trials: Companies offer product samples to prospective buyers to introduce novel items or heighten brand recognition.
Example: A beauty brand gives away small packets of a new hair care product in shopping centers.
These strategies generate immediate consumer interest and aid companies in maintaining a competitive edge.