Advantages of Offering New Trade Promotion Schemes and Products

Introduction
Mr. Peter, sales manager offers new trade promotion schemes to its distributors every three months. He plans to introduce new varieties of products keeping in mind the needs of a customer and promotional schemes from his competitors. This strategy gives him an added advantage over his competitors. In this response, we will discuss the advantages of offering new trade promotion schemes and products.

1. Increased Sales
By offering new trade promotion schemes and products, Mr. Peter can increase his sales. Customers are always interested in trying out new products, especially if they come with a promotional offer. This can help in attracting new customers and retaining existing ones.

2. Competitive Advantage
By keeping an eye on the promotional schemes of his competitors, Mr. Peter can come up with better schemes and offers. This can help him gain a competitive advantage over his competitors. Customers are more likely to choose his products over his competitors if they come with better promotional offers.

3. Customer Loyalty
Offering new trade promotion schemes and products can help in building customer loyalty. Customers appreciate it when a company introduces new products that are relevant to their needs. They are also more likely to remain loyal to a company that offers them good promotional offers.

4. Brand Awareness
By introducing new products and trade promotion schemes, Mr. Peter can increase his brand awareness. Customers are more likely to remember a company that offers them good promotional offers. This can help in creating a positive image of the company in the minds of the customers.

Conclusion
In conclusion, offering new trade promotion schemes and products can bring several advantages to a company. It can help in increasing sales, gaining a competitive advantage, building customer loyalty, and increasing brand awareness. Mr. Peter's strategy of introducing new products every three months and keeping an eye on his competitors' promotional schemes is a smart move that can help him stay ahead in the market.

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