Promotion is any form of communication a business or organization uses to inform,
persuade, or remind people about its products and improve its public image. Product Promotion :
1) explains the major features and benefits of its products (especially in relation to competitors),
2) tells where the products are sold,
3) advertises sales on those products,
4) answers customer questions, and
5) introduces new products.
Sales promotions provide a breather to salespeople as it removes some weight off their shoulder and induce prospects to purchase the product. In many ways, sales promotions help your salespeople get more leads and ultimately more customers. If you have a product that is new in the market or which is not receiving a lot of attention, then you can promote this product to customers via sales promotions. Sales promotion is the process of persuading a potential customer to buy the product, It is designed to be used as a short-term tactic to boost sales-affecting long-term customer loyalty.
A) Consumer sales promotions :
Any sales promotion activity when you keep the end consumer in mind is known as consumer sales promotion.
B) Trade Sales promotions :
If your promotional activities are focused on dealers, distributors, or agents, then it is known as trade promotions.
1-Money off coupons(Customer sales promotions):
Customers receive coupons, or cut coupons out of newspapers or the packaging of a product that enables them to buy the product next time at a reduced price.
2-Discount rates (Trade/Customer sales promotions): like a money-off decrease.
3-Free gifts (Customer sales promotions): A free product when buying another product.
4-Free trial (Customer sales promotions): You have come across several software or online programs which offer a free trial to you before you purchase the product.