Which tactic helps evaluate whether a promotion should be repeated, changed, or discontinued?

The best tactic for evaluating whether a promotion should be repeated, changed, or discontinued is SWOT analysis. This method allows businesses to assess the Strengths, Weaknesses, Opportunities, and Threats associated with a promotional campaign. By analyzing these four components, a business can gain comprehensive insights into how well the promotion performed.

Strengths focus on what worked well during the promotion, such as effective messaging or strong sales figures. Weaknesses highlight areas that did not perform as expected, like low customer engagement or poor timing. Opportunities can uncover potential adjustments for future promotions, such as targeting different demographics or enhancing marketing efforts. Finally, assessing threats can involve understanding competitive actions or economic conditions that may impact future promotions.

This holistic analysis helps businesses make informed decisions regarding the future of the promotion, guiding them on whether to continue with the same strategy, alter it for better results, or eliminate it altogether if it failed to meet predefined objectives.