Section B.

B.
Promotional goals include creating awareness, getting people to try products,
providing information, retaining loyal customers, increasing the use of products, and
identifying potential customers, as well as teaching potential service clients what is
needed to “co-create” the services provided.
The importance of promotional policies are:
 Creating awareness
 Getting consumers to try products:
 Providing information:
 Keeping loyal customers
 Increasing the amount and frequency of use:
 Identifying target customers:
 Teaching the customer
The tools for of the promotional policies for sales maximization are: Traditional
advertising, Personal selling, Sales promotion, Public relations, Social media, E-
commerce.
Pricing policies:
Companies evaluate various factors such as the costs involved, ROI, competitor pricing, and profit
margin to name a few while comparing the types of pricing strategies that are best suited for their
offerings.”

Pricing policies for increase sales are:

Penetration pricing: Brands make the market entry at a reasonably lower price than the
competitors in penetration pricing.

Price skimming: These pricing strategies are used by firms while entering into a new and exclusive
market. In the early stages, the products are priced at the higher end

Price bundling: The buy 1 get 1 free offers in retail stores are very attractive and we all love it.