Definition
In marketing, promotion refers to any type of marketing communication used to inform target audiences of the relative merits of a good, service, brand or issue, most of the time persuasive in nature. The aim of promotion is to increase awareness, create interest, generate sales or create brand loyalty. [1]
Promotion is one of the basic elements of the marketing mix, along with product, place and price.
According to the Association of National Advertisers (ANA), promotion marketing includes tactics that encourage short-term purchase, influence trial and quantity of purchase, and are very measurable in volume, share and profit. Examples include coupons, sweepstakes, rebates, premiums, special packaging, cause-related marketing and licensing. [2]
Buy-back allowance is a form of trade sales promotion in which channel members are offered an incentive to restock their store or warehouse with the product to the level in place prior to a count and recount promotion offer. [3]
Buy One Get One (BOGO) is a sales promotion offer made to either the retailer or the consumer in which purchase of one unit of the product is encouraged or rewarded by providing a second unit of the same product free of charge or for a substantial discount. [3]
References
- American Marketing Association, AMA Dictionary.
- Common Language in Marketing Project, 2021.
See Also
References
- McCarthy, Jerome E. (1964). Basic Marketing. A Managerial Approach. Homewood, Illinois: Irwin. pp. 769.
- ANA, Brand Activation Info, www.ana.net/content/show/id/brand-activation-info.
- American Marketing Association, AMA Dictionary.