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A first class brand will always sell, particularly
if it is well marketed. But in today’s ever more competitive
climate even the best
sometimes needs more. This is where sales promotion can be most effective,
as has been proved time and time again.
Thus in the last ten to fifteen years there have been two really major
developments in the marketing field. First, expenditure on sales
promotion outstripped advertising in thelate 70’s and has continued
to do so ever since (Table A).
Indeed the overall sales promo-tion industry is now, according to
informed sources, worth some £9 billion annually and, despite
the
current economic climate, seems set to continue to grow. Second is
the growth of the sourcing industry. By the mid-80’s premium
merchandise was by far the largest type of promotion in-store, and
this has continued unchanged (Table B). This growth and
establishment of premium-led promotions as the market leader meant
that a new type of supplier with greater sophistication and
breadth of expertise was needed. And so the sourcing company came
into being.
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