This comprises of short term incentives designed to increase the purchasing behavior of consumer through a variety of rewards and are meant to increase sales.
Importance /Value of Sales Promotion
- To increase sales.
- To introduce a new product.
- To encourage sellers to re-stock the items or increase their stocks e.g. free refrigerators to stock soda/water., brand shelf given to supermarkets free to stock a given product.
- Encourage the consumers sales force to put in greater effort i.e. giving of bonuses and certificates.
- To clear existing stock-this avoids carrying costs as well as sitting on money
- To promote unsought products.
- To remain competitive in the market