MANAGEMENT

Detailed explanation-1: -A sales promotion is a marketing activity that is designed to increase sales, encourage customer loyalty, or generate brand awareness. It usually involves offering a discount or some other type of incentive for customers to buy your product or engage with your brand.

Detailed explanation-2: -The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution.

Detailed explanation-3: -Sales promotion is another tool in the promotional mix. It contains methods of stimulating consumer purchase and is usually based on a short-term or immediate goal. Examples of sales promotion items are contests, sweepstakes, giveaways, free samples or coupons.

Detailed explanation-4: -The odds of winning vary drastically depending on the prize. For example, the odds of getting a piece with an instant win food prize are usually around 15-20%. Odds for non-food instant win prizes are significantly less.