The use of short-term incentives to encourage the purchase or sale of a product or service is called sales promotion.
Sales promotion can be defined as the strategy of using annual incentives to attract customers so as to increase the sales of goods and services.
Most companies make use of sales promotion to increase their sales in order to generate more revenue as well as to promote their products.
Sales promotion is important as it enables companies to advertise their products or to create products awareness to customers.
Inconclusion the use of short-term incentives to encourage the purchase or sale of a product or service is called sales promotion.
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