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.
| LIST I | LIST II |
|---|---|
| A. Production concept | II. Quantity of product |
| B. Product concept | IV. Quality of product |
| C. Selling concept | III. Aggressive selling techniques |
| D. Marketing concept | I. Satisfaction of customer needs |
| List I | List II | ||
| A. | Price mix | I. | The path or route along which goals move from producer to consumer |
| B. | Place mix | II. | The value that is put on product |
| C. | Product mix | III. | This refers to the item actually being sold |
| D. | Promotion mix | IV. | Refers to activities undertaken to make the product known to users and trade |