Using multiple domains for promotional purposes can be a great way to generate brand buzz and drive traffic to your website. You simply register a new domain related to the event and create a specific landing page for the promotion.
Say your business sells crispy, delicious potato chips, and your company website is SallysChips.com. Hypothetically speaking, you just came out with a brand new wasabi-flavored chip (why, though?) and want to promote it.
First, you’d create a snazzy new landing page with mouthwatering pictures, compelling content to convince readers that this is, in fact, a good idea, and a link to order online. Then you could pick up the domain SallysWasabiChips.com instead of using SallysChips.com/wasabi. Why? Because the new domain is easier to remember for users and simpler to advertise.
If you have multiple promotional TLDs redirected and properly represented in the sitemap file, search engines will index these domains appropriately and your page rankings can increase as a result.
It is important to note, however, that if you do purchase a domain for a temporary product or service promotion, once that promotion has ended, you should disable that domain, hide the landing page and update the sitemap so as to not saturate search engine results with outdated pages.