So there you are shopping at the supermarket and you see a two for one product on sale. Let’s say it’s a common household product that you normally use, do you buy it? Or leave it alone and buy it when you actually need it?
I would take it myself and save the cost. I will still use it later. But I will just be paying for it now. This is what you call promotions planning. It is a strategically planned promo or event to set the stage for your products or business. It’s similar to launching a new pizza place. For the first day of business, all pizzas are half priced. This coupled with good marketing and advertisement will get people to line up at the door and avail of a pie or two.
So why is it important in the grand scheme of marketing? It keeps people buying your product and thus creates an affinity or loyalty towards what you have developed. It has a “branding” effect that they choose your brand over others.
Now this is not a “1 stop shop and reap the benefits” after, it is actually a long process which involves a lot of surveys and statistics. It also involves regularity and repetition. Something like a Christmas deal every winter for a particular brand or store.
But if done right, this can actually improve business. If you have a brick and mortar store, it could improve the number of walk-in clients and thus increase the chances for sale or business.
The other important factor that this will accomplish is the branding of your business. People will get to know you and would come to trust what you have to offer as a business or service provider. Satisfied clients will also mention your brand to their friends thus increasing the number of your base target market.