Sales Promotion
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Sales promotion is defined as short-term marketing tactics used to stimulate immediate sales or trial of a product. The objectives of sales promotion include rewarding loyal customers, persuading consumers to try new products, and increasing sales during off-seasons. There are several types of sales promotion targeted at consumers, trade partners, and the sales force, such as coupons, premiums, contests, and trade shows. While sales promotion can increase market share and sales in the short-term, it also carries disadvantages like high costs and potentially damaging retailer relationships if overused.
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Sales promotion is a marketing technique that uses incentives to generate specific actions or responses from consumers, trade partners, and salespeople regarding a product or service. Some common goals of sales promotion include introducing new products, increasing existing product sales, attracting new customers, and maintaining current customers. Sales promotions can be directed at consumers, sales staff, or distribution channels. Examples of consumer sales promotions include free samples, coupons, premium offers, and contests. Trade sales promotions target retailers and wholesalers through strategies like trade allowances, point-of-purchase displays, and dealer incentives. The document discusses various sales promotion strategies and their objectives, benefits, and potential limitations.
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The document defines sales promotion as short-term incentives to encourage customer buying. It aims to inform, persuade, and remind customers. The objectives of sales promotion are to increase brand awareness, attract new and retain existing customers, maintain seasonal product sales, and meet competition challenges. Promotional techniques include consumer promotions like samples, coupons, premiums, and point-of-purchase displays, as well as trade promotions targeting retailers. Sales promotion affects a product's life cycle and both consumer and trade promotions are important profit-building tools.
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This document discusses sales promotion, including its objectives, types, techniques, advantages, and differences from advertising. The objectives of sales promotion are to introduce new products, attract customers, increase sales during slow periods, create brand awareness, and improve public image. The two main types are consumer sales promotion which informs and educates consumers, and dealer sales promotion which helps dealers improve effectiveness. Common techniques include samples, coupons, sales premiums, prizes, sweepstakes, clearance sales, and buy one get one offers. Advantages are increased buying confidence and sales, while disadvantages include potential damage to brand image over long periods.
Sales Force and Promotion
This document discusses sales promotion and marketing management. It outlines internal and external factors that contribute to rapid growth in sales promotion, such as increased competition and price-oriented consumers. The purposes of sales promotion are to attract new customers, reward loyal customers, and increase repurchase rates. Major decisions in developing a sales promotion program include selecting tools, setting objectives, implementing and controlling the program, developing the program, and pre-testing and evaluating it. Consumer and trade promotion tools are described, such as coupons, premiums, and price discounts. The goals of trade promotion tools are to increase brand carrying and sales.
Sales promotion
Sales promotion is a vital bridge or a connecting link between personal selling and advertising. It increase sales by publicity through the media which are complementary to press and poster advertising. sales promotion help for introduce new products, attract new customers, meet competition from others effectively. it also prompt existing customers to buy more.
Sales promotion
This document discusses sales promotion strategies, specifically push and pull promotion strategies. It defines push strategies as targeting marketing activities at intermediaries like wholesalers and retailers to encourage them to promote and stock a product. Pull strategies directly target end users through advertising to create demand for a product. The document provides examples of promotions for each strategy and notes that the appropriate strategy depends on factors like brand awareness and customer involvement.
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New Marketing Strategies
This document discusses new marketing strategies and lessons learned from previous strategies. It covers topics like marketing versus promotion, product lessons, promotion lessons, and new strategies. For products, it emphasizes short memorable names, eco-design, attention to colors, and respecting cultural differences. Promotion lessons include understanding local culture, living standards, using humor carefully, attracting attention, focusing on togetherness after COVID, and listening to consumers. New strategies involve virtual shopping, creative video content, interactive content like games and puzzles, influencer marketing, and promoting positive messages. The conclusion is that the reader is now prepared for 2021 marketing strategies after reviewing these lessons.
Lecture 6 Exchange rate
1. The document discusses currency exchange and foreign exchange markets. It notes there are over 180 currencies globally and different countries use different currencies.
2. For international trade and investment, there is a need for currency exchange since payments often need to be made in the home currency of the transacting parties. This gives rise to foreign exchange markets.
3. The largest foreign exchange markets involve the US dollar, euro, Japanese yen, and British pound. Demand for currencies comes from importers/exporters, tourists, foreign investors, while supply comes from the counterparties conducting these same activities but in reverse.
Lecture 9 Promotion of products and services
Here are some creative Sales promotion and Direct marketing ideas for the upcoming New Year holidays from Tinex:
Sales promotion tools:
- Coupon mailers for 20% off any purchase
- "Buy 2 gifts, get 1 free" promotion
- Gift wrapping station in stores with complimentary gift bags and ribbons
- Online contest to win a premium gift basket
Direct marketing tools:
- Targeted email campaign with personalized gift recommendations
- Interactive website banner ads with clickable gift guides
- SMS gift alerts for subscribers with time-sensitive deals
- Pop-up gift shop kiosks in high foot traffic areas
- Gift catalog mailers with order form and shipping details
Lecture 6 Scales and Measurements
The document discusses the process of marketing research and various measurement scales. It begins by outlining the 8 steps in the process of marketing research: 1) problem definition, 2) planning the research, 3) collection of data sources, 4) collection of data methods, 5) collection of data forms, 6) samples, 7) data analysis, and 8) report preparation. It then discusses different measurement scales including nominal, ordinal, interval, and ratio scales. Examples are provided to illustrate when each scale would be used. The document also covers comparative scales like paired comparison and rank order, as well as non-comparative scales like Likert and semantic differential.
Lecture 7 New Product Development and Product Life Cycle strategies
The document discusses new product development and product life cycle strategies. It outlines the 8 steps of the new product development process: idea generation, idea screening, concept development and testing, marketing strategy development, business analysis, commercialization, test marketing, and product development. It also describes the 4 phases of the product life cycle: introduction, growth, maturity, and decline. For each phase it provides an overview of key factors like sales, costs, profits, competition levels, and marketing approaches.
Lecture 5 Marketing research -Questionnaire
Here is a draft questionnaire about chocolates:
Open questions:
1. What is your favorite type of chocolate (e.g. milk, dark, white) and why?
Closed questions:
2. How often do you eat chocolate?
a) Daily
b) Weekly
c) Monthly
d) Rarely
3. When do you typically eat chocolate?
a) As a snack
b) After meals
c) Holidays/special occasions
d) Other
"Do not use" questions:
4. Do you like chocolate or not? (Two questions in one)
5. On a scale of 1 to 10, how embarrassed would you feel being
Lecture 6 Product, Product lines and Product mix
This document discusses different types of marketer decisions including individual product, product line, and product mix decisions. It defines these terms and provides examples. Individual product decisions include defining product attributes like quality, features, style, branding, packaging, labeling, and support services. A product line is a group of related products sold through similar channels. Product mix refers to all product lines and items a company offers and has dimensions of width, length, depth, and consistency. The document provides exercises for readers to calculate these dimensions for example product mixes.
Lecture 4 Marketing research -cont
The document outlines the process of marketing research and focuses on the collection of data sources and methods. It discusses secondary and primary data sources, and qualitative and quantitative data collection methods like surveys, observation, interviews, and focus groups. Specifically, it provides details on different types of surveys, advantages and disadvantages of various data collection techniques, and examples of collecting both qualitative and quantitative data.
Lecture 5 Transnational corporations
1. Transnational corporations (TNCs) are large companies that operate in multiple countries and exert significant economic and political influence globally. They expand operations abroad through subsidiaries or acquisitions.
2. TNCs have both advantages like creating jobs and investments in other countries, and disadvantages such as exploiting natural resources, creating income inequality, and manipulating laws to cut costs and transfer profits out of host countries.
3. One method TNCs use to keep developing countries subordinate is transfer pricing, where they underprice exports and overprice imports to illegally repatriate profits to home countries. They also shape local consumer needs to their interests and sell technology with restrictions.
Lecture 5 Product as the first element of the Marketing mix
This document defines and classifies different types of products. It discusses that a product can be anything offered to satisfy a want or need, including physical goods, services, organizations, persons, places, and ideas. Products exist on a continuum from purely tangible goods to purely intangible services. Effective products provide a core benefit along with actual product features and augmented services. Consumer products are classified based on how and when they are purchased, while industrial products are defined by their end use. Organizations, persons, places, and ideas can also be considered products through marketing activities.
Lecture 4 Trade blocs
This document discusses trade blocs, including their definition, objectives, advantages, disadvantages, and types. It provides examples of major trade blocs such as NAFTA, the EU, ASEAN, SAARC, MERCOSUR, CACM, and ALADI. NAFTA has been replaced by USMCA, and the EU continues expanding to new member countries while also dealing with Brexit. Trade blocs aim to reduce trade barriers between members and impose barriers on non-members to encourage regional economic integration and development.
Lecture 4 Segmentation, Targeting and Positioning
Here are two examples for each type of market targeting:
Undifferentiated Marketing:
1. A large automaker that produces vehicles aimed at the entire market without customizing for specific segments.
2. A major food brand like Coca-Cola that sells its products universally across different demographic and geographic segments.
Differentiated Marketing:
1. A clothing retailer like Gap that offers different styles targeted at specific age groups and genders like kids, men, women.
2. A telecom company that provides customized plans for consumers, businesses and seniors with different features and prices.
Concentrated Marketing:
1. A luxury automaker like BMW that focuses exclusively on the high-income segment.
Lecture 3 Defining marketing and Marketing process 3
The marketing process involves 5 phases: 1) Understanding customer needs, 2) Designing a customer-driven strategy, 3) Creating an integrated marketing program, 4) Building profitable customer relationships, and 5) Capturing value from customers through sales, profits, and long-term relationships. The last phase focuses on increasing customer loyalty, retention, market share, and customer lifetime value to build customer equity. Companies classify customers into groups like "butterflies," "strangers," "true friends," and "barnacles" based on their profitability and loyalty to determine the appropriate relationship and marketing strategy for each group.
Lecture 3 Trade liberalization
The document discusses trade liberalization efforts from the Great Depression era to the present. It describes how the Smoot-Hawley Tariff Act exacerbated the Great Depression by sparking a trade war. In response, the Reciprocal Trade Agreement Act of 1934 started negotiating bilateral trade deals. After World War 2, the General Agreement on Tariffs and Trade was signed in 1947 to liberalize global trade, resulting in several negotiation rounds cutting tariffs. The World Trade Organization was established in 1995 as a permanent institution to oversee international trade, including dispute settlement. Criticisms of the WTO include undermining sovereignty and environmental/inequality concerns.
Lecture 3 Marketing research process -Research Design
Here are two examples of each type of research design:
Exploratory research:
1) A clothing company wants to launch a new line of athletic wear for seniors. They conduct informal interviews with seniors to explore their needs and preferences for this type of clothing.
2) A restaurant is considering opening a new location in a suburban area. They do some exploratory research by talking to residents of that community to learn more about their dining preferences and gather ideas about what type of restaurant might attract customers.
Descriptive research:
1) A hotel surveys its guests to describe their demographic characteristics, how often they stay at the hotel, what amenities are important to them, and their satisfaction levels.
2) A grocery store
Lecture 2 Restrictions on International Trade
This document provides an introduction to protectionism and trade barriers. It discusses reasons why governments impose restrictions on international trade, such as protecting domestic jobs and industries. It also outlines different types of trade barriers, including tariffs, quotas, voluntary export restraints, and non-tariff barriers. Tariffs are taxes on imported goods, while quotas directly restrict the quantity of imports. The document presents diagrams to illustrate the effects of tariffs and quotas on various groups. It provides examples of calculating tariff revenue and defines key terms related to protectionism and restricting trade.
Lecture 1 International Economics defined
This document discusses the importance of international economics. It provides three indicators that demonstrate the growth of international trade over the past 50 years: 1) exponential growth in world exports from 1948-2008; 2) the increasing share of world exports as a percentage of global GDP from 1970-2008; and 3) the growth of foreign direct investment (FDI) as a percentage of world GDP from 1980-2007. The document then outlines some key concepts in international economics like international trade, comparative advantage, and factors that drive international trade such as differences in technology, resources, demand, and economies of scale. It also lists some advantages and disadvantages of international trade.
Lecture 2 Defining Marketing and Marketing process 2
The document discusses the marketing process and various marketing concepts. It describes a 5-phase marketing process: 1) understand customer needs, 2) design a customer-driven strategy, 3) construct an integrated marketing program, 4) build profitable customer relationships, and 5) capture value from customers. It also explains key concepts like the marketing mix, customer relationship marketing, partner relationship marketing, different orientations like production, product, selling, and societal marketing concepts.
For societal marketing, an example would be a company that considers social and environmental impacts of its products in addition to profits and customer satisfaction. For frenemies, an example is when competitors cooperate on standardization or research
Lecture 1 Defining Marketing and the Marketing Process
Here are two products for each level of Maslow's hierarchy of needs:
Physiological:
Food, water
Shelter, clothing
Safety:
Home security system, insurance
Health insurance, car insurance
Love/Belonging:
Social media, dating apps
Family activities, friends
Esteem:
Luxury brands, status symbols
Education, achievements
Self-Actualization:
Travel, hobbies
Self-help, personal growth
Lecture 2 Process of Marketing research with notes - First step
The document outlines the 8 steps in the process of marketing research: 1) problem definition, 2) planning the research, 3) collection of data sources, 4) collection of data methods, 5) collection of data forms, 6) samples, 7) data analysis, and 8) report preparation. It focuses on step 1 of problem definition, explaining that properly defining the problem is key to finding the right solution. It discusses determining the problem by talking to managers, experts, reviewing secondary data, and consumers. The roles of managers and market researchers in problem identification are also contrasted.
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Lecture 7 New Product Development and Product Life Cycle strategies
Lecture 7 New Product Development and Product Life Cycle strategies
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Lecture 3 Defining marketing and Marketing process 3
Lecture 3 Defining marketing and Marketing process 3
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Lecture 2 Defining Marketing and Marketing process 2
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#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
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Myself Gokila digital marketing consultant located in Coimbatore other various types of digital marketing services such as SEM
SEO SMO SMM CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Gokila digital marketer
Coimbatore
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Sales Promotion
- 1. Prof. Savica Dimitrieska SALES PROMOTION
- 2. 1. DEFINITION AND OBJECTIVES OF SALES PROMOTION
- 3. Definition of Sales Promotion Short-term and temporary promotional activity, in the form of rewards and incentives, that stimulates immediate sales!
- 4. Definition of Sales Promotion Persuading potential consumers to buy a particular product at once! Short-term marketing tactics as a basis for building long-term customer relationships.
- 5. Definition of Sales Promotion АМА: Media and nonmedia marketing pressure applied for a predetermined, limited period of time in order to stimulate trial, increase consumer demand, or improve product availability.
- 6. Definition of Sales Promotion Activities that supplement both personal selling and advertising, coordinate them and help to make them more effective. Sales promotion means any steps that are taken for the purpose of obtaining or increasing sales.
- 7. Definition of Sales Promotion Contests, sweepstakes Premiums, samples, bonus packs, freebies Coupons, refunds/rebates price-off deals, fairs Sponsorship, trade-shows, conventions, training Happy hour, open days, event marketing Loyalty programs Point-of –purchase displays
- 8. Objectives of Sales Promotion To reward a company’s loyal customers To persuade consumers to try the (new) products To increase sales in off-seasons Helps the company to remain competitive To add to the stock of the dealers To attract new customers To induce existing customers to buy more
- 9. Objectives of Sales Promotion Bridge between advertising and personal sales Promotion of new products Attracting new customers Challenging the existing customers Sales in all the seasons Cooperation with retailers and distributors Reinforcing the company’s image
- 10. Objectives of Sales Promotion Building product awareness – knowledge about company and its products Creating interest– persuading consumers for the need of a product Providing information – characteristics and product benefits Reinforcing the brand– building long-term relationships and loyalty Stimulating demand– trial, frequent and larger quantities of products
- 11. 2. MEANING OF THE SALES PROMOTION
- 12. Meaning of the Sales Promotion Consumers Producers Trade Society
- 13. Meaning of Sales Promotion For consumers: Purchase at lower prices Trial of a new product Purchase in larger quantities Getting to know the product
- 14. Meaning of Sales Promotion For producers: Increased Sales Increased Sales in Off-Seasons Close cooperation with intermediaries Stimulating demand New markets, new customers Competitive advantage Greater efficency in combination with advertising and personal sales
- 15. Meaning of Sales Promotion For intermediaries: Purchases in larger quantities, at lower prices Direct relationship with consumers
- 16. Meaning of Sales Promotion For society as a whole: Higher living standard More employments Development of transport, communications, insurance, storage Healthy competition
- 17. Customers and Sales Promotion Loyal customers Reinforce behavior: bonus packs, loyalty programs Persuade to buy the brand: trade deals, trials Competitor’s customers Persuade to switch: contests, premiums, samples Brand switchers Price buyers Appeal with low prices: coupons, price-off packs, refunds, trade-deals
- 18. Sales Promotion is a FUN for consumers
- 19. 3. TYPES OF SALES PROMOTION
- 20. Types of Sales Promotion Consumers Trade Sales Force
- 21. А) Sales Promotion for Consumers Stimulating interest Coupons, trials, free samples, premiums Asking questions Visiting shops Repeated purchase Free catalogues, contests, sweepstakes Marketing events, fun activities, fashion shows Membership cards, T-shirts, clothing
- 22. А) Sales Promotion for Consumers Free gifts Premiums Price-off deals Coupons Rebates Samples Displays Contests Sweepstakes Happy HourTrade-InLoyalty programs
- 23. B) Sales Promotion for Trade Trade shows Trade allowance Push-money Training Samples Displays
- 24. C) Sales Promotion for Sales Force Premiums Contests Symposiums Conferences Bonus Sales Rallies
- 25. 4. ADVANTAGES AND DISADVANTAGES OF SALES PROMOTION
- 26. Advantages of Sales Promotion Eye-catching appeal Increasing market share Introducing new products Distintctive themes and tools Close cooperation with trade Increased sales in off-seasons Additional value for customers Increased profit, in a short-time Competitive advantage Fun for customers Supplement to advertising and personal sales
- 27. Disadvantages of Sales Promotion Possible damage to retailer’s image High costs, expensive Difficult to terminate High consumers expectations Short-term effects only Often abused
- 28. Questions Defintion Objectves Promotion and customers Meaning Types of Sales promotion Advantages Disadvantages