Inefficiently run sales promotions can result in: a disclaimer used with contests and sweepstakes to protect the sponsoring company. If you have a product which is new in the market or which is not receiving a lot of attention, then you can promote this product to customers via sales promotion. Find out the 7 reasons why social media marketing is important for your business!Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. Television and/or Movies 1. In a sales promotion sponsored jointly by Puerto Rico Tourism Board and Rums of Puerto Rico, couples were invited to enter a contest for a chance to win the perfect wedding. 60, then a coupon with a face value of Rs. Through a proper training and guide, a salesman can be a valuable medium between the marketer and the prospective customer. _____ couponing is a method for distributing coupons by identifying a customer's purchases through bar codes scanners and then printing the coupon for a competing or complementary product. Marital status 5. Sales promotions are now considered an essential part of an organization's branding strategies. Sales promotion activities that communicate distinctive brand attributes and contribute to the development and reinforcement of brand identity are: Which of the following statements describes how brand equity is affected by the increased role of sales promotion? For this reason, many marketers rely on: sales promotions such as coupons and price discounts. And if you are not applying this profitable source, you are missing out an incredible marketing opportunity, as it makes it easy to … These payments are called: _____ is a practice used by retailers whereby they stock-up on a product at a low deal or off-invoice price and resell it to consumers at higher prices when a promotional period has ended. Decisions and objectives for event sponsorships are often part of an organization's public relations activities. Set the number of sales you want to ring up, dollars you want to bring in, customer names you want to collect, buying patterns you want to change, or any other objective you want your promotion to achieve. Get customers out of a holding pattern with a top-notch campaign. Sales promotions take many different forms, but they all focus on persuading a target audience to become customers of a business. This is an example of: Payments offered by manufacturers to resellers for merchandising products or running special in-store programs are called: Money that must be paid to a retailer so it will take on a company's new product is known as: Some retailers have demanded payment for new products that do not reach a minimum sales target. Intel and the PC manufacturers are using: When advertising and sales promotion efforts work well together and create sales results greater than those achievable from either element being used alone, they are producing a _____ effect. Samples work in all lines of business to let customers try before buying. Many sales promotion programs are designed to motivate distributors and retailers to carry a product and push it to their customers. People correctly think that promotion money gets spent primarily on advertising. Kellogg's promoted a Bart Simpson watch to consumers who mailed in $2.95 and 3 UPCs from boxes of Kellogg's cereal. Plan your incentiveA well-thought-out, properly targeted promotion prompts customers to take action by offering one of these incentives: As you decide on your incentive, keep these facts in mind: Price offers must be strong enough to compel, but reasonable enough to keep your business out of red ink. A _____ is a configuration of products that occupy a shelf section in a store offered to resellers by manufacturers. A(n) _____ is an offer of an item of merchandise or service either free or at a reduced price that is used to provide an extra incentive to purchase. Coupons are often used by consumers who are already loyal to the brand. According to Joncos (1990) sales promotion is an effective way of competitive retaliation rather than marketing activities. Which of the following sales promotion techniques would be most effective for generating excitement or interest in a brand? Or, for higher-ticket service businesses, samples can take the form of affordable introductory packages that allow prospective customers to wade into the business relationship, gaining trust for the business while also receiving a valuable service. All of the above statements about the proliferation of new products in the consumer marketplace are true. It is one of the primary components of business management and commerce. It can build up a long-term image for a product (Barbican ads) or be incentive to sale quickly (a Digikala ad for a seasonal sale). Copyright © 2021 Entrepreneur Media, Inc. All rights reserved. Trade sales promotion is directed to members of … high value in package coupons and sampling. The oldest, most widely used, and most effective sales promotion tool is the cents-off coupon. All of the following are reasonable objectives for trade-oriented sales promotions EXCEPT: to differentiate a brand through image enhancement. The redemption rate for refunds is lower than that for coupons because: As a sales promotion, _____ has the advantage of offering a price incentive to the consumer, which may or may not be utilized, depending upon how the consumer acts after the purchase. Marketers communicate with their audience in order to inform, educate and persuade them to purchase their product or service. Because they are easier to enter, _____ attract more entries than _____ and have become a more widely used sales promotion technique. When she has purchased five books at regular price, she is sent a coupon for a free book to be picked out on her next visit to the store. Super-Sav is using a: Every time Beth buys a book at Waldenbooks, she presents her Waldenbooks card, and the sales associate enters her purchase in a database. They also work directly with the IT department in the promotion aspect of the four Ps to … Efforts to change a brand's focus to target new markets or change the image of a brand are called. Some sales promotions are aimed at consumers. In other words, _____ is affecting sales promotion just as it has advertising. One organisation can rely on television advertising and the other can remain dependent on the efforts of its sales team. In retailing, effective packaging sends the message: Buy me! Know what you want to achievePromotions work especially well when consumers are in need of a jolt to take buying action. Getting customers to plunk down cash or credit cards remains a painfully slow process in this struggling economy. Events and experiences draw customers for celebrations, product launches, special appearances or presentations, and other activities that combine entertainment with brand and product presentations. The individual promotion specialists can then focus on the details of implementation. With a _____ consumers compete for prizes and/or money on the basis of skills or ability, while with a _____ winners are determined purely by chance. Which of the following developments have resulted in a transfer of power from manufacturers to retailers? Coupons always make a comeback in penny-pincher markets, which means they're hugely popular these days. When New Balance sponsors a campaign advertising the availability of its running shoes at FootLocker stores, this is an example of _____ advertising. When hosting an event, make sure to go all out. Consumer sales promotion is targeted to the ultimate consumer market. Think of Costco on weekends. A promotion strategy is defined by the plan and tactics you implement in your marketing plan to increase your product or service demand. Wal-Mart is known for its marketing ______________, influencing all aspects of marketing including sales promotions by brand manufacturers. This is a set of short-term activities that are designed to encourage immediate purchase. can be used to generate excitement and involvement with a popular and timely event. For example, five-minute shoulder massages or one-hour home decorating consultations. Why are organizations like KFC, Heinz Foods, Toys R Us, and Anheuser Busch placing more emphasis on sales promotions than ever before? It is a process of face to face interaction between the salesperson and the prospective customer. a sweepstakes or contest that uses a theme which is consistent with the image or positioning of the brand. The Sales Promotion tools are directed towards Consumers (Consumer promotion tools), Dealers or middlemen (Trade promotion tools), and Sales force. Marketers who are being held accountable for strategy implementation often need concrete methods to show the effectiveness of their decision-making. Which of the following is an example of a sales promotion that can be used to contribute to franchise building? This discount will be deducted straight from the bill. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! 2. Offering too many freebies can signal to customers that they are not purchasing a prestigious or “limited” product. Age 3. Ingredient-sponsored cooperative advertising. Healthcare marketers consider internal stakeholders in their marketing efforts by staying in tune to what is going on in the organization and listening to the needs of the internal stakeholders. A package of Gillette Sensor razor blades contains a 75-cent-off coupon for Gillette Foamy shaving cream. Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketers can target sales promotion efforts to: When a marketer distributes coupons for a brand with a specific expiration date, they are attempting to use sales promotion as a(n): Coupons, bonus packs, premiums and samples are promotional offers that are targeted toward: Consumer-oriented sales promotions are part of a promotional ______ strategy. This would be an example of: Some promotional studies indicate the number of sales promotions being offered to consumers is limiting its effectiveness as a marketing tool. How to Stand Out As a Leader in a Saturated Online Market, Here's the No. Target your effortPromotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current customers to buy differently, and stimulate business during slow periods. Noise. Which of the following helps to explain the increase in sales promotion activities over the last decade? Effective blending of promotion efforts is achieved through integrated marketing communications, so that the firm can send a consistent and complete message. These objectives are for both marketers and traders. But rarely can one promotion accomplish all of those objectives at once. This allows the business to tailor its marketing activities with the needs, wants, aspirations and expectations of target customers in mind. https://quizlet.com/284976713/imc-373-exam-3-chapter-16-flash-cards Programs involving cash payments directly to the sales force to reward them for selling the manufacturer's products involve the use of: Which of the following promotions is targeted toward the trade rather than consumers? Which of the following statements about rebates is true? Slow process in this struggling economy result in: which of the primary components of business tailor! And have become a bigger deal than ever, marketers are relying on digital platforms sell. 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