Promotional marketing is a type of advertising that focuses on providing special promotions or incentives to consumers in order to encourage them to purchase a product or service. This can include discounts, buy-one-get-one-free offers, loyalty programs, and other types of deals.
Promotional marketing is often used in conjunction with other forms of advertising, such as television commercials, billboards, and print ads, in order to maximize the effectiveness of a marketing campaign.
Promotions can be targeted to specific customer segments, such as students, senior citizens, Hotels, restaurants, renovation companies or frequent customers, in order to attract specific types of consumers. For example, a company might offer a discount on a product to students in order to appeal to this demographic.
The key to success with promotional marketing is to create promotions that are perceived as valuable by consumers, and to use the right promotional strategies to reach the intended target audience. Companies must also be strategic about the timing of promotions and must carefully track the results of their campaigns in order to measure the effectiveness of their efforts.
Promotions have a positive impact on customer behavior, create brand loyalty and increase brand awareness. It can also boost sales, particularly when they are timed with key buying periods such as holidays, end of financial year, or any events.
Overall, promotional marketing is an effective way for companies to attract new customers, reward existing ones, and boost sales. It can also help to differentiate a company's products or services from those of its competitors.