ENTREPRENEURSHIP

Detailed explanation-1: -They are designed to increase sales by building product loyalty and attracting new customers. They can also persuade nonusers to switch brands. The fundamental concept behind premium marketing is that people will be more motivated to buy a product when they are offered an added-value gift in exchange.

Detailed explanation-2: -Sales promotion: Sales promotions are short-term incentives to encourage people to buy a product or service. Examples include coupons, rebates or games and contests that the public can participate in. 3. Public relations: This type of promotion communicates a company’s services and image to the public.

Detailed explanation-3: -A sales promotion is a marketing strategy in which a business uses a temporary campaign or offer to increase interest or demand in its product or service. There are many reasons why a business may choose to use a sales promotion (or ‘promo’), but the primary reason is to boost sales.

Detailed explanation-4: -Sales promotion refers to short-term incentives that are designed to encourage the buyers to make an immediate purchase of a product or service in a short-term period.