PROMOTIONAL MARKETING AS A METHOD OF INCREASING SALES

Abstract

This article examines the importance of promotional marketing in modern business. An analysis of scientific research and publications on the subject of promotions and their impact on business success has been carried out. The main types of promotions and their characteristics of use in business are considered. The key elements of the promotional marketing strategy and their influence on the effectiveness of the promotional campaign were studied. The research methodology consisted of the analysis of scientific literature and publications on the topic of promotional marketing in business, as well as the use of such methods as analytical (analysis of statistical data and reports of Flagman Seafood LLC on the use of promotions and their impact on product sales) and case study research (use of promotions by the company, their results and impact on consumers). The scientific novelty of promotional marketing research lies in the study of various aspects and effectiveness of promotional strategies in modern conditions. Specifically: analysis of the impact of various factors on the success of promotions, including pricing strategy, distribution channels and consumer behaviour; study of different types of promotions, such as discounts, gifts, loyalty programmes and promotions, in order to determine the most effective strategies for increasing sales and attracting new customers; study of the impact of promotions in different markets, in particular, study of the influence of cultural and social factors on the reaction of consumers to different promotional strategies. The study showed that the effectiveness of promotions depends on their correct selection and calculation. Insufficient attention to target group analysis and the development of an effective promotion strategy can lead to unsuccessful results and a loss of consumer confidence in the brand. The practical value of the research lies in the fact that the article provides practical advice and recommendations on the use of promotional marketing in business. In addition, the article can be useful for marketing managers and entrepreneurs who plan to develop their business with the help of promotions. The results of the study allow us to understand the importance of promotional marketing for increasing the competitiveness of the company and attracting more customers. The scientific novelty lies in deepening the understanding of promotional marketing and determining its importance for business. The article offers an original classification of promotions and analyses their role in the formation of consumer behaviour. In general, the article helps to increase the effectiveness of marketing strategies and ensure the successful operation of enterprises in the conditions of the modern market.

Full text

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Vol. 4 No. 2, 2023
1 National University of Life and Environmental Sciences of Ukraine, Ukraine (corresponding author)
E-mail: bondarenkovalm@gmail.com
ORCID: hps://orcid.org/0000-0002-5929-7158
2 National University of Life and Environmental Sciences of Ukraine, Ukraine
E-mail: bogdanavyshnivska@gmail.com
ORCID: hps://orcid.org/0000-0002-3166-7567
is is an Open Access article, distributed under the terms
of the Creative Commons Aribution CC BY 4.0
DOI: hps://doi.org/10.30525/2661-5150/2023-2-3
PROMOTIONAL MARKETING
AS A METHOD OF INCREASING SALES
Valerii Bondarenko1, Bogdana Vyshnivska2
Abstract. This article examines the importance of promotional marketing in modern business. An analysis of
scientic research and publications on the subject of promotions and their impact on business success has
been carried out. The main types of promotions and their characteristics of use in business are considered.
The key elements of the promotional marketing strategy and their inuence on the eectiveness of the
promotional campaign were studied. The research methodology consisted of the analysis of scientic literature
and publications on the topic of promotional marketing in business, as well as the use of such methods as
analytical (analysis of statistical data and reports of Flagman Seafood LLC on the use of promotions and their
impact on product sales) and case study research (use of promotions by the company, their results and impact
on consumers). The scientic novelty of promotional marketing research lies in the study of various aspects
and eectiveness of promotional strategies in modern conditions. Specically: analysis of the impact of various
factors on the success of promotions, including pricing strategy, distribution channels and consumer behaviour;
study of dierent types of promotions, such as discounts, gifts, loyalty programmes and promotions, in order to
determine the most eective strategies for increasing sales and attracting new customers; study of the impact
of promotions in dierent markets, in particular, study of the inuence of cultural and social factors on the
reaction of consumers to dierent promotional strategies. The study showed that the eectiveness of promotions
depends on their correct selection and calculation. Insucient attention to target group analysis and the
development of an eective promotion strategy can lead to unsuccessful results and a loss of consumer
condence in the brand. The practical value of the research lies in the fact that the article provides practical advice
and recommendations on the use of promotional marketing in business. In addition, the article can be useful
for marketing managers and entrepreneurs who plan to develop their business with the help of promotions.
The results of the study allow us to understand the importance of promotional marketing for increasing the
competitiveness of the company and attracting more customers. The scientic novelty lies in deepening the
understanding of promotional marketing and determining its importance for business. The article oers an
original classication of promotions and analyses their role in the formation of consumer behaviour. In general,
the article helps to increase the eectiveness of marketing strategies and ensure the successful operation of
enterprises in the conditions of the modern market.
Key words: promotions, promotional marketing, strategy, business, advertising campaign.
JEL Classication: M31, D22, L10
1. Introduction
Modern business is a highly competitive and
saturated market where the success of companies
depends not only on the quality of their
products and services, but also on the
eectiveness of their marketing strategies. One
of the most important components of a
marketing strategy is promotional marketing,
which helps to aract consumers' aention to
a product or service, increase their loyalty and
ensure a competitive advantage in the market.
Despite the importance of promotional
marketing to business, not all companies use it
correctly and do not always understand how to
use it eectively. is can lead to a loss of
competitive advantage and reduced business

Three Seas Economic Journal
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Vol. 4 No. 2, 2023
protability. ere is also a risk of over-
saturating the market with promotions and
reducing their eectiveness through poor
planning and execution.
e purpose of the article. Considering that
promotional marketing is an important tool for
increasing sales, the article aims to reveal the
following aspects: understanding the essence of
promotional marketing and its role in eective
marketing strategy planning; analysing the
types of promotions, their impact on dierent
categories of consumers and the eectiveness
of their use depending on the characteristics of
the product/service; studying the eectiveness
of the use of promotional marketing; determining
the key factors inuencing the success of
promotional marketing, such as pricing policy,
content of promotions, cooperation with
partners and others.
erefore, for a business to be successful, it
is necessary to understand the importance of
promotional marketing and to be able to apply
it correctly to achieve maximum results. is
article is devoted to the study of the role of
promotional marketing in business and the
identication of eective strategies for using this
method.
2. Analysing and Researching Publications
Studies conducted in dierent countries
around the world show that promotional
marketing is an important tool for aracting new
customers and increasing sales. For example,
a Nielsen study found that 72% of consumers
look for promotions and discounts before
making a purchase. In addition, 62% of
consumers said that promotions and discounts
are the main factor when choosing a product
or service (A Look at the 21st Century CMO,
Bre House, VP Product Marketing and
Strategy, 2018).
In the article "e Ultimate Guide to Product
Marketing in 2023", the authors state that
promotions can increase sales from 10% to 50%.
In addition, promotions can help companies
increase market share and aract new
customers. For example, a study by Experian
found that a loyalty programme using
promotions helped a company increase its
market share by 20% (e share of promotional
sales in Ukraine is growing; e Ultimate Guide
to Product Marketing in 2023).
In addition, promotions can increase
awareness of the brand and its products. In
the article "Eect of Promotional Mix on the
Marketing of Insurance Services", the authors
note that promotions can help the brand aract
consumer aention and make it more accessible
to a wide range of customers (Anyadighibe,
Etuk, Edim Eka James, Stephen, 2021).
Promotions are one of the most eective
marketing strategies for aracting customers and
increasing sales. In the article "e Inuence of
Product, Price, Promotion and Distribution on
the Marketing Strategy of Small and Medium
Enterprises in Lhokseumawe City", the authors
state that promotions can be used to aract
new customers, increase the average check and
increase customer loyalty (Saharuddin Saha-
ruddin, Khairil Anwar, Azhar Azha, 2022).
Promotions are also one of the most popular
marketing strategies among small and medium-
sized enterprises. In the article "Promotion as
a form of communication of the marketing
strategy", the authors note that promotions can
help small and medium-sized businesses aract
new customers and increase sales without
signicant advertising costs (Alexandrescu,
Mihai-Bogdan and Milandru, Marius, 2018).
Promotions can also be used to draw aention
to new products and services, helping companies
to draw consumers' aention to new products
and services, thereby increasing sales and brand
awareness. In addition, promotions can be used
to aract customers to other products and
services of the company. In the article "Issues
impacting Sales Promotion in International
Marketing. International Journal of Multi-
disciplinary: Applied Business and Education
Research", the authors note that promotions
can be used to aract customers to other
products and services of the company, which
allows to increase the average check and
increase customer loyalty (Jadhav S., Kumar A.,
Brar V. 2022).
Ukrainian researchers have also conducted
research on promotional marketing. For example,
one of these studies is the article "Marketing
research of agricultural enterprises: theoretical
and practical aspects", the authors examine the
role of promotions in the marketing strategy of
the enterprise, and also analyse dierent types
of promotions and their impact on sales and
customer loyalty (Mazur K., Babyna O.,

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BabynI., Germaniuk N., Нarbar Z., Hontaruk Y.,
BondarenkoV., Lohosha R. 2022).
In addition, there are scientic centres and
institutes in Ukraine that conduct research in
the eld of marketing, including promotional
marketing. For example, the KNEU Institute of
Marketing and the Marketing Research Centre
"ARMA Marketing" conduct market research
and marketing strategies for companies.
e article "Position and Role of Promotion
in the Marketing Communication System at the
Company Level" examines the features of the
use of promotions in the marketing strategy
of a company and their impact on sales
(Pitinova Т.В., Khyzhnyak К.В., 2017).
e peculiarities of the use of promotions in
the promotion of goods on the market and their
impact on consumers are disclosed in the
article "Sales promotion: measures and means
that help in the formation of the marketing
activity of the enterprise in the implemen-
tation of FEA" (Sheremetynska O.V., Nevmer-
zhytska Yu. 2016).
e article “Brand Loyalty Importance: How
to Build Brand Loyalty” examines the impact
of promotions on the formation of consumer
loyalty. e authors conducted a survey of
consumers and found that promotions have
a signicant impact on consumer brand
loyalty. ey also nd that the eectiveness of
promotions depends on how well they are
organised and targeted (Brand Loyalty
Importance: How to Build Brand Loyalty).
3. Presentation of the Main Material
One of the key strategies for successful
marketing is to understand the target audience.
Dening the target audience and analysing
their needs, preferences and behaviours can
help companies create more eective marketing
messages and campaigns. Conducting a qualitative
analysis of the target audience can also help
a company plan sales and advertising campaigns
more eectively. By understanding their target
audience, businesses can tailor their advertising
eorts to beer meet their needs and increase
their chances of success (Bondarenko V.,
Martynova L., Chorna N., Sukhorebra T.,
Seheda S. 2019).
Creating a clear and compelling message is
one of the most important aspects of successful
promotional marketing. e message should
be simple, memorable and easy to understand.
It should also be tailored to the target audience
and communicate the benets of the product or
service being promoted. A clear and compelling
message can help capture the aention of
potential customers and increase the likelihood
of conversion.
Choosing the right advertising channels is also
critical to successful promotional marketing.
Dierent channels, such as social media, digital
marketing or print advertising, can be eective
depending on the target audience and campaign
objectives. It is important not to focus on just
one channel, but to diversify and use multiple
channels to reach a wider audience. By choosing
the right promotional channels, companies
can maximise reach and engagement, leading
to increased brand awareness and sales
(Abuselidze G., Talavyria M., Vyshnivska B.,
Bondarenko V., Makedon H., Kniazieva T.,
Salkova I. 2023).
Promotional marketing is an important aspect
of any successful business as it plays a crucial
role in building brand awareness and recognition.
By creating powerful visual, audio and text
messages that resonate with their target
audience, businesses can increase their online
presence and capture the aention of potential
customers. Video marketing, for example, is one
of the most important communication tools
a company can use to promote its brand and
achieve dierent audience responses. By using
dierent channels to increase brand awareness
and reach target audiences, businesses can
ultimately increase sales and revenue.
Promotional marketing is a type of marketing
strategy that aims to increase sales and brand
awareness through the use of promotional
materials and events. e goal of promotional
marketing is to get customers to make a purchase
or take an action, such as signing up for a
newsleer or aending an event. Promotional
marketing can include a variety of tactics such
as discounts, sweepstakes, contests and loyalty
programmes. It is an eective way for businesses
to aract new customers and retain existing
ones (What Is Promotional Marketing? Your
Guide to Geing Started).
According to the authors, promotional
marketing is a marketing technique and strategy
used to increase sales, promote a brand and
aract new customers through special

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promotions, oers, discounts and other sales
promotion methods.
One of the main benets of promotional
marketing is its ability to build customer loyalty
and grow business. By oering promotions,
discounts and other incentives, companies can
encourage customers to return and make new
purchases. In addition, placing information
about the company on resources through
content marketing can help create a positive
opinion about the product and increase
customer loyalty. As a result, companies can
build a loyal customer base that will continue to
generate revenue over time.
is type of marketing is also an eective way
to stimulate sales and increase prots. By
investing in sales promotion, companies can
reap a number of benets, including generating
additional revenue, increasing market share,
expanding the target market and creating a
positive perception of the product. ere are
dierent methods of sales promotion that
businesses can use, such as price cuing, which
involves reducing the price of a product to
increase sales and aract new customers. By
implementing eective sales promotion strategies,
companies can ultimately increase sales and
revenue, leading to long-term market success.
Promotional marketing uses various types
of promotion, including advertising, public
relations, personal selling and sales promotion.
Advertising is a powerful communication tool
that can inuence people's behaviour and is
used to promote goods and services in the
marketplace. Public relations involves managing
a company's reputation through media coverage
and other forms of communication. Personal
selling involves face-to-face interaction between
the salesperson and the customer, while sales
promotion includes tactics such as discounts,
coupons and competitions. By using a
combination of these tactics, companies can
create a comprehensive promotional marketing
campaign. Promotional marketing is an
extremely important component of any business,
as it allows to aract new customers and
increase sales of products or services.
Promotional marketing enables companies to:
– Aract new customers. Аdvertising helps
to aract the aention of potential customers
and provide information about products or
services. is allows to aract new customers
who may be interested in purchasing a product
or service;
– Increase sales. Promotion helps increase
awareness of a product or service, which can
lead to increased sales. Advertising can also help
retain existing customers and encourage repeat
purchases;
– Develop the brand. Advertising helps to build
brand awareness and recognition – branding.
is can increase customer condence in the
brand and lead to increased sales;
– Gain a competitive advantage. Advertising
contributes to dierentiation from the
competition and provides additional benets
that can be a decisive factor in the customer's
choice of a particular product.
In general, promotional marketing is an
important part of any business, as it allows to
aract new customers, increase sales, develop
one's brand and gain a competitive advantage.
is type of marketing includes various
activities such as competitions, promotions,
discounts, gis with purchase, loyalty
programmes, special oers, etc. ese activities
can be aimed at both increasing sales and
increasing brand awareness among potential
customers. Promotional marketing can be an
eective tool for aracting new customers and
increasing the loyalty of existing customers.
However, it is important to remember that
such events must be well planned and aligned
with the company's marketing strategy in order
to get the most out of them.
ere are many dierent types of promotions
that companies can use to aract customers and
increase sales. Some of the most popular types of
promotions include:
– Discounts. is is one of the most common
forms of promotion when companies oer
discounts on goods or services;
– Sweepstakes. is is an eective method of
building brand awareness when companies oer
customers the chance to win valuable prizes such
as cash rewards or merchandise;
– Giveaways. is is a form of promotion where
customers can receive free gis for purchasing
goods or services;
– Loyalty programmes. is is a long-term
promotion strategy where companies give
customers the opportunity to accumulate bonus
points or receive additional discounts for repeat
purchases;

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– Buy one, get one free (BOGO). is is a form
of promotion where companies oer customers
to get one product for free with the purchase
of another product;
– Games and contests. is is a method of
increasing brand awareness when companies run
various games and contests in which customers
can win valuable prizes;
– Special oers. is is a form of promotion
where companies provide special oers for
certain products or services, such as free shipping
or discounts on bulk purchases.
ese types of promotions can be used
individually or combined for maximum impact.
"Flagman Seafood" LLC is a domestic company
established on 12 June 2017. e company
transports and delivers the following products
to its customers: chilled and frozen sh and
seafood; red caviar; salmon roe; mussels in
buer (sealed); a bit of the Baltic Sea; cod
liver; frozen crab; salted, hot and cold smoked.
A leading company in the eld of sh snacks and
seafood trade, oering its partners the widest
range of sh and seafood in Ukraine. e company
imports more than 300 types of sh and seafood
from various countries of the world: Norway,
Iceland, Spain, Denmark, Sweden, Greece,
France, Netherlands, Scotland, Ireland,
Lithuania, Latvia, Estonia, Chile, USA, etc.
ere is a wide range of these seafoods, and
Flagman Seafood will deliver them to where they
are needed (e ocial website of Flagman
Seafood LLC, its structure and the available
catalogue of products they sell).
e production level of the enterprise is
a large volume of nished products, the
enterprise makes prots by selling goods on
the domestic and foreign markets, a production
line and a large number of vehicles, which are
necessary to pay all employees and maintain
them in good condition. e weakness is that the
production link has not been fully developed,
resulting in a lack of production sites (Table 1).
e Flagman Seafood company uses only
Western production technologies, which are
integrated into the production of a wide range of
products, in order to avoid potential problems
and unexpected breakdowns during production.
e company is constantly tracking global
equipment manufacturers to acquire and
integrate them into the existing process chain
as quickly as possible. is saves time in the
production and packaging of goods, which is
particularly important for large orders where
production and shipping of goods is carried
out around the clock.
However, the use of such high-tech
equipment has its drawbacks – the rapid ageing
of components and aggregates, which can lead
to long production stoppages in the event of
an accident. erefore, the company must have
an adequate stock of spare parts to be able to
quickly replace non-functioning units and
resume production in the event of a breakdown.
e company's nancial position remains at
a high level due to the stable prot resulting
from the increase in the volume of products sold
and the entry into new product sales markets.
Table 1
Grouping of internal factors and their impact on the enterprise
Groups of internal factors Strengths Weaknesses
Production level A large number of goods produced and sold in
the country and abroad
e production line is not yet fully operational,
and there is still room for investment to increase
product turnover
Technologies Advanced European technologies are used in
the production of the entire product line
Technologies are rapidly becoming obsolete,
and it is necessary to constantly monitor market
updates
Financial factors anks to stable orders and an expanding
product range, the company is highly protable
Businesses need to be more pragmatic and
exible to have a good excess prot
Organizational and
managerial factors
e created hierarchy of the enterprise is
as correct as possible for the optimal and
uninterrupted work of managers
Management should be optimised to reduce the
cost of this sta
Personnel
e company has a large number of employees
across the country, providing people with jobs
and decent wages
e pandemic and all the restrictions have
shown that the company does not have enough
manpower to ensure the smooth operation of
all production processes

Three Seas Economic Journal
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Flagman Seafood is a dominant player in its
market and has a large number of orders both
in Ukraine and abroad.
Flagman Sea Food makes extensive use of
Western equipment in its production to
ensure reliability and eciency of processes. It
constantly monitors global equipment
manufacturers to keep abreast of new develop-
ments and ways of integrating them. is
enables them to increase production volumes.
e nancial situation of the company has
always been stable, thanks to the increase in
sales and the expansion of the sales geography.
is is explained by the fact that the company
is a leader in its market and has a large number
of orders not only in Ukraine but also abroad.
During the pandemic, however, the company
faced signicant diculties as it was not
prepared for new challenges, including
quarantine restrictions and lockdowns in
European and Asian countries. is led to a
35-40% reduction in sales markets and the
closure of some production facilities due to
their inability to supply.
e company is vertically integrated, which
means that all issues in the organisational
structure must be resolved to ensure the smooth
running of the company and the generation of
prots. Each manager is responsible only for
his or her area, which allows other colleagues
to work without hindrance. e weakness,
however, is the large number of redundant sta,
so it is necessary to optimise and reduce the
number of departments that are no longer
competent or necessary. is will reduce
labour costs and allow funds to be invested in
modernising existing equipment and launching
new products in new markets.
An equally important component of the
company's marketing activities to sell products
quickly is promotion (a product promotion
tool). A promotion is an opportunity to inform
potential and existing customers about goods,
services, special oers and to encourage them
to make a purchase. As a result, it is possible to
create loyalty to the seller, promote new
products,increase demand for products, gain
a foothold in a new niche among competitors
and thus gain a signicant place in the market.
Flagman Sea Food oen uses this method
to introduce new products to potential
consumers. Various promotional options are
used to initiate the process of selling existing
goods or services.
Among the popular types of promotions used
by the company are the following (Figure 1).
A benet as a tool should show good results
when used and justify the resources that will
be spent on this event. In fact, many large
companies use promotions not only to focus
on large sales and market coverage, but also to
work for high loyalty to themselves as a
responsible seller. In general, a promotional
event is quite expensive, but if a new product
or service is successfully sold, the company will
make a good prot, so this option can be
considered quite cost-eective and rational. e
bonus of such a promotional event is also an
increase in the company's reputation, which plays
a crucial role for the buyer, since when choosing
a product, he is guided not only by consumer
Promotions LLC "Flagman Sea
Food"
demonstration of a newproduct
in branded stores
agift of atrial version of the product
upon purchase in stores
distribution offlyersadvertising new services
promotionsin stores"two for the price of one"
cooperationwith companies that specialize
in advertising on the Internet and on various
resources in general
using coupons in the form of promo
codes with discounts for subsequent
purchases in stores
wide use and issuance of limitedclub cards,
the owners of which have privileges in the
form of bonuses and permanent discounts
on the entire range of products
Figure 1. Promotions of Flagman Sea Food LLC
Source: systematized by the authors

Three Seas Economic Journal
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Vol. 4 No. 2, 2023
qualities, but also by the seller's reputation
in this niche and in the market as a whole.
erefore, it is appropriate and eective to
improve the company's reputation, aract more
customers and increase market share by running
a promotion.
4. Conclusions
us, from research and analysis of publications,
it can be concluded that promotional marketing
is an important strategy for aracting new cus-
tomers, increasing sales and improving customer
loyalty. Promotions can be used for both small
and medium sized businesses and large corpora-
tions, as well as for new products and services.
On the basis of the research conducted, it can
be concluded that expanding the possibilities of
understanding and using promotional marketing
as a key business tool for aracting and retaining
customers provides an opportunity to ensure
sustainable growth of prots and competitiveness
of the company, the interaction of various types
of promotions with each other to achieve
a synergistic eect, and also a signicant
contribution to the development of scientic
knowledge about promotional marketing in the
context of modern business.
In addition, promotions can be used to aract
customers to other products and services of
the company, which can increase the average
check and increase customer loyalty. Hence,
promotional marketing can be a useful tool for
companies in any industry.
Promotional marketing is a key tool in
business because it allows companies to
eectively aract and retain customers, increase
sales and prots, and become more competitive
in the marketplace. e importance of p
romotional marketing in business lies in the
following aspects:
– Aracting customers. Promotions allow to
aract new customers who can become regular
buyers of the company. is helps to increase
sales and prots;
– Customer retention. Campaigns also help to
retain regular customers, increase their loyalty
and engagement with the company. is reduces
the risk of losing customers and ensures stable sales;
– Increase brand awareness. Promotions can
increase the visibility of a brand and its products
or services. is helps to increase brand
awareness and competitiveness in the market;
– Increase in sales. Promotional activities help
to increase sales and prots. is can be achieved
through discounts, gis, loyalty programmes,
and other tools;
– Increase in competitiveness. Special promotions
can improve a company's competitiveness in
the market, as they help to aract and retain
customers, increase brand awareness, and boost
sales and prots.
Consequently, the importance of promotional
marketing in business lies in its ability to help
businesses achieve their goals of aracting and
retaining customers, increasing sales and prots,
and enhancing competitiveness and brand
awareness in the market.
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Received on: 27th of April, 2023
Accepted on: 05th of June, 2023
Published on: 30th of June, 2023