World Summit on Management Sciences
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Accepted Abstracts

The New Marketing and Sales Promotion Strategy

Sali Bakare*
University of the People, USA

Citation: Bakare S (2020) The New Marketing and Sales Promotion Strategy. SciTech Management Sciences 2020. Thailand 

Received: February 04, 2020         Accepted: February 07, 2020         Published: February 07, 2020

Abstract

Happy hour concept is a successful sales promotion and marketing strategy that has thrived for decades. The concept is a type of promotion or advertisement for some industries such hospitality, retail, etc. An example will be serving champagne at a reduced price for 2hours on a Monday night. It originated from the 1920s when sailors used it to designate the time when they could take a break from their duties onboard and chill out. The phrase “happy hour” then spread to civilians who like to drink before going to dinner although alcohol is illegal back then. In the 1960s, restaurants and pubs started using the term “happy hours” to describe a temporary discount on drinks intended to attract customers during off-peak hours. And in the 1970s, restaurants began to add food to their happy hour specials. The concept of happy hours then evolved to become a global trend. Happy hour strategies are a great way to experiment with new items, understand the customer behaviour, and boost revenues and profit. Happy hours concept may be an old hat; it is always a good idea for one to take a look at what the competitors and the successful businesses around are doing.
Keywords: Happy hour, Promotion strategy, Marketing strategy, Up-selling mechanism