Business Studies

Promotion and Advertising Topic 6 Q1 Define and describe sales promotion. How does event marketing play a role in sales promotion strategy?

ANSWER

Sales Promotion and Event Marketing

Sales promotions are mechanisms implemented within the marketing environment to increase the available output in terms of revenues or provide extra value to the customers, distributors, and sales personnel for a short time. Sales promotions engage activities like demonstrations and unique offerings, which are not part of the routine. As an extra incentive to purchase, these activities can be directed to the buyers, distribution partners, and retails. Businesses might use different forms of media to reach out to customers; they include billboards, television ads, posters, and coupons. The primary aim of sales promotion in any business entity is to raise demand for their products and services, coordinate active selling, and increase product availability among the distribution channel partners (Van Heerde & Neslin, 2017). There are two types of sales promotions frequently used by businesses; they include trade and consumer. The consumer sales promotion mechanism intends to reach out to clients or end-user purchasing the item. On the other hand, the trade promotion concentrates on reaching the organizational clients that can initiate quick sales.

Event Marketing in Sales Promotion

Event marketing is a technique marketers use to promote their goods, service, and brand through an in-person or real-time engagement. The events can be offline or online, and businesses are allowed to participate as sponsors or hosts. Event marketing plays a significant role in sales promotion because its intentions are directly linked with sales promotion (Tafesse, 2016). Event marketing is an avenue of building brand awareness, enhancing consumer engagement, and educating prospects and clients. Customers and partners can communicate with a particular brand in person, which they find more trustworthy. In the process, marketers can exhibit their products and services, which is part of the sales promotion mechanism.

References

Tafesse, W. (2016). Conceptualization of brand experience in an event marketing context. Journal of Promotion Management, 22(1), 34-48.

Van Heerde, H. J., & Neslin, S. A. (2017). Sales promotion models. In Handbook of marketing decision models (pp. 13-77). Springer, Cham.