Why is an initial sales promotion so important?
The business world is highly competitive, and new companies and products seem to emerge overnight. It takes time to establish a new business or product line, but an initial sales promotion can speed things up tremendously by raising consumer awareness.HistoryPromotion is one of the four P’s of marketing–product, price, place and promotion–otherwise known as the “marketing mix.” E. J. McCarthy defined the marketing mix in 1960.SignificanceIt is through promotion that companies communicate information about their product with consumers. This includes activities such as television advertisements, social media, billboards, direct mail, blogs, radio commercials and product websites.Creating BuzzNew businesses and products do not share in the clout and customer loyalty that their longstanding competitors have. Initial sales promotions are designed to create interest and spur demand for the company’s product or service.Building BrandSome sales promotions are geared toward reinforcing the co
