RELEVANCE OF SALES PROMOTION TO BUSINESS ORGANIZATIONS
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RELEVANCE OF SALES PROMOTION TO BUSINESS ORGANIZATIONS
Chapter 1: Introduction
The success of every commercial organisation is heavily reliant on consumer demand. Any organization’s product or service must be communicated to the consumer before it can be considered suitable.
Without communicating the product or services to the consumer, its existence cannot be recognised, and hence patronage may not be realised.
Organisations promote their products and services to the market as well as to users. They use a variety of promotional methods, such as advertising, personal selling, publicity, and sales promotion.
Such promotional tools can be used by any type of organisation, whether commercial or non-profit, to communicate with and persuade a target recipient or potential consumer that they should avail themselves of the product or service on offer.
Furthermore, a study of marketing communication is applicable to various sorts of organisations, as promotional activities are carried out by commercial enterprises, trade associations, government agencies, educational institutions, health advisory councils, political parties, charities, etc.
It is an essential field of study for marketers due to the significant financial commitment (expenditure) involved in promotional efforts. The advertising industry, in particular, is a sizable and significant component in any Western economy.
This industry is also experiencing rapid expansion in less developed economies and certain socialist nations.
Modern marketing requires modern corporations to build a decent product, price it attractively, and make it easily available to the target consumer. These organisations must also design and create awareness about the existence, futures, and forms in which they will help the target market.
Sale promotion is one of the most essential promotion techniques in the marketing of goods and services. The changing communication mix includes marketing tools that are predominantly communicational in character.
They are instruments that are typically classified as promotion, which is one of the controllable variables. The promotional elements include numerous forms of advertising, packaging, sale presentation, sale aids (cataloques, trade stamp premiums, free sample coupons), and a publicity campaign.
Consumers are regarded as kings in marketing concepts, so marketing activities today are based on how best to satisfy the consumer. Any company’s marketing effort should be based on how best to ensure that after developing a product presentation or an acceptable price
a better promotional strategy is chosen, which will involve much sales promotion to entice the consumer to buy the product faster. The sales promotion is an incentive for a customer to purchase.
Furthermore, it is not concentrated in a developing country such as Nigeria. A producer can just produce and the consumer will be aware of the product. The firm must engage in promotional initiatives. Over the years, various renowned authors have seen sales marketing as having performed such roles as:
Stimulating a new product user.
Encourage more frequent use of a product.
Posting sales in a specific location and promoting alternative products.
appealing to a specific portion of the market
Attracting bargain hunters and non-brand conscious buyers.
Encourage seasonal sales or stimulate off-peak time sales. Creating a secure location for a certain product and encouraging movement of slow-selling lines.
Offsetting price competition
Assigning salespeople to present their product because maturation and encouragement have been established.
It promotes increased purchasing and encourages the development of new products and services.
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