Business Research

Abstract

Sales are the life blood of a business, without sales there would be no business in the first place; therefore, it is very important that if a business wants to succeed, it should have a sales promotion strategy in mind. The primary objective of a sales promotion is to improve a company’s sales by predicting and modifying your target customer’s purchasing behavior and patters. Sales promotion methods are many and these are selected as per the target groups. For this purpose, a sales promotion strategy is to be prepared to achieve the objective effectively. So, most of the companies are depend on sales promotion as it is considered to be effective short-term sales tool. In recent marketing trends, majority of fast-moving consumer goods companies do consider sales promotion being an integral part of their overall marketing strategies. Generally, FMCG are those goods which require less shopping and decisionmaking efforts and used directly by end consumer. It may include any kind of goods brought frequently. Today, an average FMCG companies allocate its 74% of all marketing budget in sales promotion. Sales promotion is generally more effective when used with advertising, personal selling and other promotional tools. As there are many companies in the market with products of different brands, the competition in the market is very high; companies are adopting different promotional techniques to make consumer loyal to their product.