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The purpose of a promotion and thus its promotional plan can have a wide range, including: sales increases, new product acceptance, creation of brand equity, positioning, competitive retaliations or creation of a corporate image. [2] The term 'promotion' tends to be used internally by the marketing function.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Sales promotion has a tactical, rather than strategic role in marketing communications and brand strategy, it is also a form of advertisement used within a short period of time. Researchers Farhangmehr and Brito reviewed the definitions of sales promotions in marketing texts and journals and identified a set of common characteristics of sales ...
Loyalty marketing is a marketing strategy in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing, and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these ...
With this sales promotion/marketing strategy, a "leader" is any popular article, i.e., sold at a low price to attract customers. [3] One use of a loss leader is to draw customers into a store where they are likely to buy other goods. The vendor expects that the typical customer will purchase other items at the same time as the loss leader and ...
The marketing plan can be expected to provide information about the company's long and short-term goals, competitive rivalry, a description of the target market, products offered, positioning strategy, pricing strategy, distribution strategy and other promotional programs.