Three Seas Economic Journal

21

Vol. 4 No. 2, 2023

1 National University of Life and Environmental Sciences of Ukraine, Ukraine (corresponding author)
E-mail: bondarenkovalm@gmail.com
ORCID: https://orcid.org/0000-0002-5929-7158
2 National University of Life and Environmental Sciences of Ukraine, Ukraine
E-mail: bogdanavyshnivska@gmail.com
ORCID: https://orcid.org/0000-0002-3166-7567

This is an Open Access article, distributed under the terms 
of the Creative Commons Attribution CC BY 4.0

DOI: https://doi.org/10.30525/2661-5150/2023-2-3

PROMOTIONAL MARKETING  
AS A METHOD OF INCREASING SALES

Valerii Bondarenko1, Bogdana Vyshnivska2

Abstract. This article examines the importance of promotional marketing in modern business. An analysis of 
scientific research and publications on the subject of promotions and their impact on business success has 
been carried out. The main types of promotions and their characteristics of use in business are considered.  
The key elements of the promotional marketing strategy and their influence on the effectiveness of the  
promotional campaign were studied. The research methodology consisted of the analysis of scientific literature  
and publications on the topic of promotional marketing in business, as well as the use of such methods as  
analytical (analysis of statistical data and reports of Flagman Seafood LLC on the use of promotions and their 
impact on product sales) and case study research (use of promotions by the company, their results and impact 
on consumers). The scientific novelty of promotional marketing research lies in the study of various aspects 
and effectiveness of promotional strategies in modern conditions. Specifically: analysis of the impact of various  
factors on the success of promotions, including pricing strategy, distribution channels and consumer behaviour; 
study of different types of promotions, such as discounts, gifts, loyalty programmes and promotions, in order to 
determine the most effective strategies for increasing sales and attracting new customers; study of the impact  
of promotions in different markets, in particular, study of the influence of cultural and social factors on the  
reaction of consumers to different promotional strategies. The study showed that the effectiveness of promotions 
depends on their correct selection and calculation. Insufficient attention to target group analysis and the  
development of an effective promotion strategy can lead to unsuccessful results and a loss of consumer  
confidence in the brand. The practical value of the research lies in the fact that the article provides practical advice 
and recommendations on the use of promotional marketing in business. In addition, the article can be useful 
for marketing managers and entrepreneurs who plan to develop their business with the help of promotions.  
The results of the study allow us to understand the importance of promotional marketing for increasing the 
competitiveness of the company and attracting more customers. The scientific novelty lies in deepening the 
understanding of promotional marketing and determining its importance for business. The article offers an  
original classification of promotions and analyses their role in the formation of consumer behaviour. In general,  
the article helps to increase the effectiveness of marketing strategies and ensure the successful operation of 
enterprises in the conditions of the modern market.

Key words: promotions, promotional marketing, strategy, business, advertising campaign.

JEL Classification: M31, D22, L10

1. Introduction 
Modern business is a highly competitive and 

saturated market where the success of companies 
depends not only on the quality of their  
products and services, but also on the  
effectiveness of their marketing strategies. One  
of the most important components of a  
marketing strategy is promotional marketing, 

which helps to attract consumers' attention to 
a product or service, increase their loyalty and 
ensure a competitive advantage in the market.

Despite the importance of promotional  
marketing to business, not all companies use it 
correctly and do not always understand how to  
use it effectively. This can lead to a loss of 
competitive advantage and reduced business 



Three Seas Economic Journal

22

Vol. 4 No. 2, 2023

profitability. There is also a risk of over- 
saturating the market with promotions and 
reducing their effectiveness through poor  
planning and execution.

The purpose of the article. Considering that 
promotional marketing is an important tool for 
increasing sales, the article aims to reveal the 
following aspects: understanding the essence of 
promotional marketing and its role in effective 
marketing strategy planning; analysing the 
types of promotions, their impact on different  
categories of consumers and the effectiveness 
of their use depending on the characteristics of  
the product/service; studying the effectiveness  
of the use of promotional marketing; determining 
the key factors influencing the success of 
promotional marketing, such as pricing policy, 
content of promotions, cooperation with  
partners and others.

Therefore, for a business to be successful, it 
is necessary to understand the importance of 
promotional marketing and to be able to apply 
it correctly to achieve maximum results. This  
article is devoted to the study of the role of 
promotional marketing in business and the 
identification of effective strategies for using this 
method.

2. Analysing and Researching Publications
Studies conducted in different countries  

around the world show that promotional  
marketing is an important tool for attracting new 
customers and increasing sales. For example, 
a Nielsen study found that 72% of consumers 
look for promotions and discounts before  
making a purchase. In addition, 62% of  
consumers said that promotions and discounts  
are the main factor when choosing a product 
or service (A Look at the 21st Century CMO,  
Brett House, VP Product Marketing and  
Strategy, 2018).

In the article "The Ultimate Guide to Product 
Marketing in 2023", the authors state that 
promotions can increase sales from 10% to 50%.  
In addition, promotions can help companies 
increase market share and attract new  
customers. For example, a study by Experian  
found that a loyalty programme using  
promotions helped a company increase its  
market share by 20% (The share of promotional 
sales in Ukraine is growing; The Ultimate Guide  
to Product Marketing in 2023).

In addition, promotions can increase  
awareness of the brand and its products. In 
the article "Effect of Promotional Mix on the  
Marketing of Insurance Services", the authors 
note that promotions can help the brand attract 
consumer attention and make it more accessible 
to a wide range of customers (Anyadighibe,  
Etuk, Edim Eka James, Stephen, 2021).

Promotions are one of the most effective 
marketing strategies for attracting customers and 
increasing sales. In the article "The Influence of 
Product, Price, Promotion and Distribution on 
the Marketing Strategy of Small and Medium 
Enterprises in Lhokseumawe City ", the authors 
state that promotions can be used to attract 
new customers, increase the average check and  
increase customer loyalty (Saharuddin Saha-
ruddin, Khairil Anwar, Azhar Azha, 2022).

Promotions are also one of the most popular 
marketing strategies among small and medium-
sized enterprises. In the article "Promotion as  
a form of communication of the marketing  
strategy ", the authors note that promotions can 
help small and medium-sized businesses attract  
new customers and increase sales without 
significant advertising costs (Alexandrescu,  
Mihai-Bogdan and Milandru, Marius, 2018).

Promotions can also be used to draw attention 
to new products and services, helping companies 
to draw consumers' attention to new products 
and services, thereby increasing sales and brand 
awareness. In addition, promotions can be used  
to attract customers to other products and  
services of the company. In the article "Issues 
impacting Sales Promotion in International 
Marketing. International Journal of Multi-
disciplinary: Applied Business and Education 
Research", the authors note that promotions 
can be used to attract customers to other 
products and services of the company, which 
allows to increase the average check and 
increase customer loyalty ( Jadhav S., Kumar A.,  
Brar V. 2022).

Ukrainian researchers have also conducted 
research on promotional marketing. For example, 
one of these studies is the article "Marketing 
research of agricultural enterprises: theoretical 
and practical aspects", the authors examine the 
role of promotions in the marketing strategy of 
the enterprise, and also analyse different types 
of promotions and their impact on sales and  
customer loyalty (Mazur K., Babyna O., 



Three Seas Economic Journal

23

Vol. 4 No. 2, 2023

Babyn  I., Germaniuk N., Нarbar Z., Hontaruk Y., 
Bondarenko V., Lohosha R . 2022). 

In addition, there are scientific centres and 
institutes in Ukraine that conduct research in 
the field of marketing, including promotional 
marketing. For example, the KNEU Institute of 
Marketing and the Marketing Research Centre 
"ARMA Marketing" conduct market research  
and marketing strategies for companies.

The article "Position and Role of Promotion 
in the Marketing Communication System at the 
Company Level" examines the features of the  
use of promotions in the marketing strategy 
of a company and their impact on sales  
(Pitinova Т.В., Khyzhnyak К.В., 2017).

The peculiarities of the use of promotions in 
the promotion of goods on the market and their  
impact on consumers are disclosed in the 
article "Sales promotion: measures and means 
that help in the formation of the marketing 
activity of the enterprise in the implemen-
tation of FEA" (Sheremetynska O.V., Nevmer- 
zhytska Yu. 2016).

The article “Brand Loyalty Importance: How 
to Build Brand Loyalty” examines the impact 
of promotions on the formation of consumer  
loyalty. The authors conducted a survey of 
consumers and found that promotions have 
a significant impact on consumer brand 
loyalty. They also find that the effectiveness of  
promotions depends on how well they are  
organised and targeted (Brand Loyalty  
Importance: How to Build Brand Loyalty).

3. Presentation of the Main Material
One of the key strategies for successful  

marketing is to understand the target audience. 
Defining the target audience and analysing 
their needs, preferences and behaviours can 
help companies create more effective marketing 
messages and campaigns. Conducting a qualitative 
analysis of the target audience can also help 
a company plan sales and advertising campaigns 
more effectively. By understanding their target 
audience, businesses can tailor their advertising 
efforts to better meet their needs and increase 
their chances of success (Bondarenko V.,  
Martynova L., Chorna N., Sukhorebra T.,  
Seheda S. 2019). 

Creating a clear and compelling message is 
one of the most important aspects of successful 
promotional marketing. The message should 

be simple, memorable and easy to understand.  
It should also be tailored to the target audience  
and communicate the benefits of the product or 
service being promoted. A clear and compelling 
message can help capture the attention of 
potential customers and increase the likelihood  
of conversion.

Choosing the right advertising channels is also 
critical to successful promotional marketing. 
Different channels, such as social media, digital 
marketing or print advertising, can be effective 
depending on the target audience and campaign 
objectives. It is important not to focus on just  
one channel, but to diversify and use multiple 
channels to reach a wider audience. By choosing 
the right promotional channels, companies 
can maximise reach and engagement, leading 
to increased brand awareness and sales  
(Abuselidze G., Talavyria M., Vyshnivska B., 
Bondarenko V., Makedon H., Kniazieva T.,  
Salkova I. 2023). 

Promotional marketing is an important aspect 
of any successful business as it plays a crucial  
role in building brand awareness and recognition. 
By creating powerful visual, audio and text 
messages that resonate with their target 
audience, businesses can increase their online 
presence and capture the attention of potential  
customers. Video marketing, for example, is one 
of the most important communication tools 
a company can use to promote its brand and  
achieve different audience responses. By using 
different channels to increase brand awareness  
and reach target audiences, businesses can 
ultimately increase sales and revenue.

Promotional marketing is a type of marketing 
strategy that aims to increase sales and brand 
awareness through the use of promotional  
materials and events. The goal of promotional 
marketing is to get customers to make a purchase 
or take an action, such as signing up for a  
newsletter or attending an event. Promotional 
marketing can include a variety of tactics such 
as discounts, sweepstakes, contests and loyalty 
programmes. It is an effective way for businesses 
to attract new customers and retain existing  
ones (What Is Promotional Marketing? Your  
Guide to Getting Started).

According to the authors, promotional  
marketing is a marketing technique and strategy 
used to increase sales, promote a brand and  
attract new customers through special  



Three Seas Economic Journal

24

Vol. 4 No. 2, 2023

promotions, offers, discounts and other sales 
promotion methods.

One of the main benefits of promotional 
marketing is its ability to build customer loyalty  
and grow business. By offering promotions, 
discounts and other incentives, companies can 
encourage customers to return and make new 
purchases. In addition, placing information 
about the company on resources through  
content marketing can help create a positive  
opinion about the product and increase  
customer loyalty. As a result, companies can  
build a loyal customer base that will continue to 
generate revenue over time.

This type of marketing is also an effective way  
to stimulate sales and increase profits. By  
investing in sales promotion, companies can 
reap a number of benefits, including generating 
additional revenue, increasing market share, 
expanding the target market and creating a  
positive perception of the product. There are 
different methods of sales promotion that 
businesses can use, such as price cutting, which 
involves reducing the price of a product to  
increase sales and attract new customers. By 
implementing effective sales promotion strategies, 
companies can ultimately increase sales and 
revenue, leading to long-term market success.

Promotional marketing uses various types 
of promotion, including advertising, public 
relations, personal selling and sales promotion.  
Advertising is a powerful communication tool  
that can influence people's behaviour and is  
used to promote goods and services in the 
marketplace. Public relations involves managing 
a company 's reputation through media coverage 
and other forms of communication. Personal 
selling involves face-to-face interaction between 
the salesperson and the customer, while sales  
promotion includes tactics such as discounts, 
coupons and competitions. By using a  
combination of these tactics, companies can  
create a comprehensive promotional marketing 
campaign. Promotional marketing is an  
extremely important component of any business, 
as it allows to attract new customers and  
increase sales of products or services.

Promotional marketing enables companies to:
– Attract new customers. Аdvertising helps 
to attract the attention of potential customers  
and provide information about products or  
services. This allows to attract new customers 

who may be interested in purchasing a product  
or service;
– Increase sales. Promotion helps increase 
awareness of a product or service, which can  
lead to increased sales. Advertising can also help 
retain existing customers and encourage repeat 
purchases;
– Develop the brand. Advertising helps to build 
brand awareness and recognition – branding.  
This can increase customer confidence in the  
brand and lead to increased sales;
– Gain a competitive advantage. Advertising 
contributes to differentiation from the  
competition and provides additional benefits  
that can be a decisive factor in the customer's  
choice of a particular product.

In general, promotional marketing is an  
important part of any business, as it allows to 
attract new customers, increase sales, develop  
one's brand and gain a competitive advantage.  
This type of marketing includes various  
activities such as competitions, promotions, 
discounts, gifts with purchase, loyalty  
programmes, special offers, etc. These activities  
can be aimed at both increasing sales and  
increasing brand awareness among potential 
customers. Promotional marketing can be an 
effective tool for attracting new customers and 
increasing the loyalty of existing customers. 
However, it is important to remember that  
such events must be well planned and aligned  
with the company 's marketing strategy in order  
to get the most out of them.

There are many different types of promotions 
that companies can use to attract customers and 
increase sales. Some of the most popular types of 
promotions include:
– Discounts. This is one of the most common  
forms of promotion when companies offer 
discounts on goods or services;
– Sweepstakes. This is an effective method of 
building brand awareness when companies offer 
customers the chance to win valuable prizes such  
as cash rewards or merchandise;
– Giveaways. This is a form of promotion where 
customers can receive free gifts for purchasing 
goods or services;
– Loyalty programmes. This is a long-term 
promotion strategy where companies give 
customers the opportunity to accumulate bonus 
points or receive additional discounts for repeat 
purchases;



Three Seas Economic Journal

25

Vol. 4 No. 2, 2023

– Buy one, get one free (BOGO). This is a form  
of promotion where companies offer customers 
to get one product for free with the purchase  
of another product;
– Games and contests. This is a method of 
increasing brand awareness when companies run 
various games and contests in which customers  
can win valuable prizes;
– Special offers. This is a form of promotion 
where companies provide special offers for  
certain products or services, such as free shipping 
or discounts on bulk purchases.

These types of promotions can be used 
individually or combined for maximum impact.

"Flagman Seafood" LLC is a domestic company 
established on 12 June 2017. The company 
transports and delivers the following products  
to its customers: chilled and frozen fish and  
seafood; red caviar; salmon roe; mussels in  
butter (sealed); a bit of the Baltic Sea; cod  
liver; frozen crab; salted, hot and cold smoked. 
A leading company in the field of fish snacks and 
seafood trade, offering its partners the widest 
range of fish and seafood in Ukraine. The company  
imports more than 300 types of fish and seafood 
from various countries of the world: Norway, 
Iceland, Spain, Denmark, Sweden, Greece,  
France, Netherlands, Scotland, Ireland,  
Lithuania, Latvia, Estonia, Chile, USA, etc.  
There is a wide range of these seafoods, and  
Flagman Seafood will deliver them to where they  
are needed (The official website of Flagman  
Seafood LLC, its structure and the available 
catalogue of products they sell).

The production level of the enterprise is  
a large volume of finished products, the  
enterprise makes profits by selling goods on 
the domestic and foreign markets, a production  
line and a large number of vehicles, which are 
necessary to pay all employees and maintain 
them in good condition. The weakness is that the 
production link has not been fully developed, 
resulting in a lack of production sites (Table 1).

The Flagman Seafood company uses only 
Western production technologies, which are 
integrated into the production of a wide range of 
products, in order to avoid potential problems  
and unexpected breakdowns during production. 
The company is constantly tracking global 
equipment manufacturers to acquire and 
integrate them into the existing process chain 
as quickly as possible. This saves time in the  
production and packaging of goods, which is 
particularly important for large orders where 
production and shipping of goods is carried  
out around the clock.

However, the use of such high-tech  
equipment has its drawbacks – the rapid ageing  
of components and aggregates, which can lead 
to long production stoppages in the event of 
an accident. Therefore, the company must have 
an adequate stock of spare parts to be able to 
quickly replace non-functioning units and  
resume production in the event of a breakdown.

The company 's financial position remains at 
a high level due to the stable profit resulting  
from the increase in the volume of products sold 
and the entry into new product sales markets. 

Table 1
Grouping of internal factors and their impact on the enterprise

Groups of internal factors Strengths Weaknesses

Production level
A large number of goods produced and sold in 
the country and abroad

The production line is not yet fully operational, 
and there is still room for investment to increase 
product turnover

Technologies
Advanced European technologies are used in 
the production of the entire product line

Technologies are rapidly becoming obsolete, 
and it is necessary to constantly monitor market 
updates

Financial factors
Thanks to stable orders and an expanding 
product range, the company is highly profitable

Businesses need to be more pragmatic and 
flexible to have a good excess profit

Organizational and 
managerial factors

The created hierarchy of the enterprise is 
as correct as possible for the optimal and 
uninterrupted work of managers

Management should be optimised to reduce the 
cost of this staff

Personnel
The company has a large number of employees 
across the country, providing people with jobs 
and decent wages

The pandemic and all the restrictions have 
shown that the company does not have enough 
manpower to ensure the smooth operation of 
all production processes



Three Seas Economic Journal

26

Vol. 4 No. 2, 2023

Flagman Seafood is a dominant player in its  
market and has a large number of orders both  
in Ukraine and abroad.

Flagman Sea Food makes extensive use of  
Western equipment in its production to 
ensure reliability and efficiency of processes. It  
constantly monitors global equipment 
manufacturers to keep abreast of new develop-
ments and ways of integrating them. This  
enables them to increase production volumes.

The financial situation of the company has  
always been stable, thanks to the increase in  
sales and the expansion of the sales geography.  
This is explained by the fact that the company 
is a leader in its market and has a large number 
of orders not only in Ukraine but also abroad. 
During the pandemic, however, the company  
faced significant difficulties as it was not  
prepared for new challenges, including  

quarantine restrictions and lockdowns in  
European and Asian countries. This led to a  
35-40% reduction in sales markets and the  
closure of some production facilities due to  
their inability to supply.

The company is vertically integrated, which 
means that all issues in the organisational  
structure must be resolved to ensure the smooth 
running of the company and the generation of 
profits. Each manager is responsible only for  
his or her area, which allows other colleagues  
to work without hindrance. The weakness, 
however, is the large number of redundant staff,  
so it is necessary to optimise and reduce the  
number of departments that are no longer 
competent or necessary. This will reduce 
labour costs and allow funds to be invested in  
modernising existing equipment and launching 
new products in new markets.

An equally important component of the 
company 's marketing activities to sell products 
quickly is promotion (a product promotion 
tool). A promotion is an opportunity to inform 
potential and existing customers about goods, 
services, special offers and to encourage them 
to make a purchase. As a result, it is possible to  
create loyalty to the seller, promote new 
products,increase demand for products, gain 
a foothold in a new niche among competitors  
and thus gain a significant place in the market. 
Flagman Sea Food often uses this method 
to introduce new products to potential  
consumers. Various promotional options are  
used to initiate the process of selling existing  
goods or services.

Among the popular types of promotions used  
by the company are the following (Figure 1).

A benefit as a tool should show good results 
when used and justify the resources that will 
be spent on this event. In fact, many large  
companies use promotions not only to focus 
on large sales and market coverage, but also to  
work for high loyalty to themselves as a  
responsible seller. In general, a promotional  
event is quite expensive, but if a new product 
or service is successfully sold, the company will  
make a good profit, so this option can be  
considered quite cost-effective and rational. The 
bonus of such a promotional event is also an 
increase in the company 's reputation, which plays 
a crucial role for the buyer, since when choosing 
a product, he is guided not only by consumer 

Promotions LLC "Flagman Sea 
Food"

demonstration of a new product
in branded stores

a gift of a trial version of the product
upon purchase in stores

distribution of flyers advertising new services

promotions in stores "two for the price of one"

cooperation with companies that specialize 
in advertising on the Internet and on various

resources in general

using coupons in the form of promo
codes with discounts for subsequent

purchases in stores

wide use and issuance of limited club cards, 
the owners of which have privileges in the 
form of bonuses and permanent discounts 

on the entire range of products

Figure 1. Promotions of Flagman Sea Food LLC

Source: systematized by the authors



Three Seas Economic Journal

27

Vol. 4 No. 2, 2023

qualities, but also by the seller's reputation  
in this niche and in the market as a whole.

Therefore, it is appropriate and effective to 
improve the company 's reputation, attract more 
customers and increase market share by running 
a promotion.

4. Conclusions
Thus, from research and analysis of publications, 

it can be concluded that promotional marketing  
is an important strategy for attracting new cus-
tomers, increasing sales and improving customer 
loyalty. Promotions can be used for both small  
and medium sized businesses and large corpora-
tions, as well as for new products and services. 

On the basis of the research conducted, it can 
be concluded that expanding the possibilities of 
understanding and using promotional marketing 
as a key business tool for attracting and retaining 
customers provides an opportunity to ensure 
sustainable growth of profits and competitiveness 
of the company, the interaction of various types  
of promotions with each other to achieve 
a synergistic effect, and also a significant 
contribution to the development of scientific 
knowledge about promotional marketing in the 
context of modern business.

In addition, promotions can be used to attract 
customers to other products and services of 
the company, which can increase the average 
check and increase customer loyalty. Hence,  
promotional marketing can be a useful tool for 
companies in any industry.

Promotional marketing is a key tool in  
business because it allows companies to 
effectively attract and retain customers, increase 
sales and profits, and become more competitive 
in the marketplace. The importance of p 
romotional marketing in business lies in the 
following aspects:
– Attracting customers. Promotions allow to  
attract new customers who can become regular 
buyers of the company. This helps to increase  
sales and profits;
– Customer retention. Campaigns also help to 
retain regular customers, increase their loyalty 
and engagement with the company. This reduces 
the risk of losing customers and ensures stable sales;
– Increase brand awareness. Promotions can 
increase the visibility of a brand and its products 
or services. This helps to increase brand  
awareness and competitiveness in the market;
– Increase in sales. Promotional activities help 
to increase sales and profits. This can be achieved 
through discounts, gifts, loyalty programmes,  
and other tools;
– Increase in competitiveness. Special promotions 
can improve a company 's competitiveness in 
the market, as they help to attract and retain  
customers, increase brand awareness, and boost 
sales and profits.

Consequently, the importance of promotional 
marketing in business lies in its ability to help 
businesses achieve their goals of attracting and 
retaining customers, increasing sales and profits, 
and enhancing competitiveness and brand 
awareness in the market.

References:
A Look at the 21st Century CMO, Brett House, VP Product Marketing and Strategy (2018).  
Available at: https://www.nielsen.com/insights/2018/perspectives-the-21st-century-cmno/ 
The share of promotional sales in Ukraine is growing. Available at: http://www.nielsen.com/
The Ultimate Guide to Product Marketing in 2023. Available at: https://blog.hubspot.com/marketing/
product-marketing 
Anyadighibe, J. A., Etuk A., & Edim Eka James Stephen, R . (2021). Effect of Promotional Mix on 
the Marketing of Insurance Services. Journal of Business and Management Studies, 3(2), 125–134.  
DOI: https://doi.org/10.32996/jbms.2021.3.2.13
Saharuddin Saharuddin, Khairil Anwar, & Azhar Azha (2022). The Influence of Product, Price,  
Promotion and Distribution on the Marketing Strategy of Small and Medium Enterprises in  
Lhokseumawe City. DOI: https://doi.org/10.29103/mrbj.v2i2.10456
Alexandrescu, Mihai-Bogdan, & Milandru, Marius (2018). Promotion as a form of Communication of  
the Marketing Strategy. Land Forces Academy Review, 23(4), pp. 268–274. DOI: https://doi.org/ 
10.2478/raft-2018-0033
Jadhav, S., Kumar, A., & Brar, V. (2022). Issues impacting Sales Promotion in International Marketing. 
International Journal of Multidisciplinary: Applied Business and Education Research, 3(6), 1159–1163.  
DOI: https://doi.org/10.11594/ijmaber.03.06.18



Three Seas Economic Journal

28

Vol. 4 No. 2, 2023

Mazur, K., Babyna, O., Babyn, I., Germaniuk, N., Нarbar., Z, Hontaruk, Y., Bondarenko, V., & 
Lohosha, R . (2022). Marketing research of agricultural enterprises: theoretical and practical aspects. 
International Science Group. Available at: https://isg-konf.com/wp-content/uploads/2022/05/
Monograph/979-8-88680-819-3/979-8-88680-819-3.pdf
Pitinova, Т. В., & Khyzhnyak, К. В. (2017). Position and Role of Promotion in the Marketing 
Communication System at Company Level. Scientific Bulletin of the National Academy of Statistics, 
Accounting and Audit, 3, 65–71. DOI: https://doi.org/10.31767/nasoa.3.2017.08
Sheremetynska, O., & Nevmerzhytska, Yu. (2016). Sales promotion: measures and means that help 
in the formation of marketing activities of an enterprise in the course of FEA. Efficient economy, 2.  
Available at: http://www.economy.nayka.com.ua/?op=1&z=4785
Brand Loyalty Importance: How to Build Brand Loyalty. Available at: https://www.masterclass.com/
articles/brand-loyalty
Bondarenko, V., Martynova, L., Chorna, N., Sukhorebra, T., & Seheda, S. (2019). Evaluation system  
formation of development of enterprise's innovative potential. Academy of Strategic Management  
Journal, 18(1). Available at: https://www.scopus.com/record/display.uri?eid=2s2.085062414505& 
origin=resultslist&sort=plf-f
Abuselidze, G., Talavyria, M., Vyshnivska, B., Bondarenko, V., Makedon, H., Kniazieva, T., & Salkova, I. 
(2023). The economic mechanism of marketing activity management of food enterprises, E3S Web 
of Conferences, ISSN 2267-1242, EDP Sciences, Les Ulis, vol. 371, pp. 1–10. DOI: https://doi.org/ 
10.1051/e3sconf/202337105002
What Is Promotional Marketing? Your Guide to Getting Started. Available at: https://www.coursera.org/
articles/promotional-marketing
The official website of Flagman Seafood LLC, its structure and the available catalogue of products  
they sell. Available at: http://www.fseafood.com/

Received on: 27th of April, 2023
Accepted on: 05th of June, 2023

Published on: 30th of June, 2023