Trade promotion management
Trade promotion management is when a company tries to get more people to buy their products by giving them special deals or discounts. Just like when your mom buys you a toy on sale! Companies often use trade promotions to make their products stand out from other products and encourage people to choose theirs over others.
But, companies need to be really careful when they offer these deals because they can cost a lot of money. So, to be successful, they need to plan everything out very carefully. This is where trade promotion management comes in.
It's like when you are planning a party and you need to make sure you have enough cake and balloons for all of your friends. Companies need to plan how much money they can spend on these special deals and what they want to offer. They also need to figure out who to offer the deals to and how to let people know about them.
So, imagine a big toy company wants to sell more of their toys. They might make a plan to offer a discount to people who buy three or more toys. Then, they would use advertising to let people know about the deal, and make sure the stores that sell their toys know about it too. All of this planning and coordination is part of trade promotion management!
But, companies need to be really careful when they offer these deals because they can cost a lot of money. So, to be successful, they need to plan everything out very carefully. This is where trade promotion management comes in.
It's like when you are planning a party and you need to make sure you have enough cake and balloons for all of your friends. Companies need to plan how much money they can spend on these special deals and what they want to offer. They also need to figure out who to offer the deals to and how to let people know about them.
So, imagine a big toy company wants to sell more of their toys. They might make a plan to offer a discount to people who buy three or more toys. Then, they would use advertising to let people know about the deal, and make sure the stores that sell their toys know about it too. All of this planning and coordination is part of trade promotion management!