Final answer:
Using a sales promotion creates a sense of urgency and excitement, attracts new customers, and encourages repeat business.
Step-by-step explanation:
In business, using a sales promotion involves offering incentives or rewards to customers to encourage them to make a purchase. This can include discounts, coupons, free gifts, or loyalty programs. Sales promotions are effective because they create a sense of urgency and excitement, and can attract new customers and encourage repeat business.
On the other hand, simply lowering the price of a product may not have the same impact. Lowering the price can be effective in certain situations, but it may not create the same level of excitement and urgency as a sales promotion. Additionally, consistently lowering prices can devalue a product and create the perception of lower quality.
In summary, using a sales promotion allows businesses to create a sense of urgency, incentivize purchases, and attract new customers, whereas lowering the price may not have the same impact and can devalue a product.