What is promotion life cycle in SAP CRM-MKT-MPL-TPM - Trade Promotion Management?

SAP Term: promotion life cycle

• Component: CRM-MKT-MPL-TPM

• Component Name: Trade Promotion Management

• Description: Customizable combination of status and date that alerts the user about the current stage of the promotion’s life. Examples of stages include Plan, Approve, Track, and Review.

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• Key Concepts: 
  The promotion life cycle in SAP Trade Promotion Management (TPM) is the process of planning, executing, and evaluating a promotional activity. It includes the steps of creating a promotion plan, setting up the promotion, executing the promotion, and analyzing the results. The promotion life cycle is an important part of managing promotional activities in SAP TPM.
  
  How to use it: 
  To use the promotion life cycle in SAP TPM, first create a promotion plan. This plan should include the objectives of the promotion, the target audience, and the budget. Next, set up the promotion by defining the rules and conditions for participation. Then execute the promotion by launching it to customers and tracking its progress. Finally, analyze the results of the promotion to determine its success or failure.
  
  Tips & Tricks: 
  When creating a promotion plan, it is important to consider all aspects of the promotion such as budget, target audience, and objectives. Additionally, it is important to track the progress of the promotion throughout its life cycle to ensure that it is meeting its goals. Finally, be sure to analyze the results of the promotion to determine its success or failure.
  
  Related Information: 
  For more information on SAP TPM and its features, please visit https://www.sap.com/products/trade-promotion-management.html. Additionally, for more information on how to use SAP TPM for promotional activities, please visit https://help.sap.com/viewer/product/SAP_TPM/en-US/.