The decision to change its name was taken at an Extraordinary General Meeting, held at the end of last week, where institute members voted overwhelming in favour of the move.
The change follows months of consultation with its members, which include companies such as Coca-Cola, ITV and Kellogg. The feedback gained from this exercise was that the term "sales promotion" was limiting because of its heavy association with FMCG and retail industries when promotions now span all media channels and a wide range of industry sectors.
Clive Mishon, ISP chairman, said: "Promotional marketing is present in all media channels, particularly digital, but also the experiential and motivation disciplines. So, for many of our members, it is long overdue for the name of their trade association to change to reflect this broadening market."
The new name and corporate identity will be launched on 26 May at the ISP Awards.
The ISP was originally founded in 1933 as the British Sales Promotion Association. It later became the Sales Promotion Executives Association, before taking its current name in 1979.
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