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Sales Promotion_ 5th Unit

Sales Promotion_ 5th Unit

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Published by: suruthee on Nov 29, 2009
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12/13/2012

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Sales promotion
Meaning
Sales promotion refers to many kind of incentives and techniques that are directedtowards consumers and traders with the intension to produce primarily immediateor short term sales effect.
It is an important and powerful tool of marketing. the aim of sales promotion isgoal-oriented to achieve sales/marketing objectives, which are short-term andimmediate.
Generally, sales promotion is not used to generate long-term results or sales in thefuture, but rather to generate sales results now.
The range of tools and techniques of sales promotion includesdiscounts,coupons,free samples,contest,games,special packs,allowances,demonstrations,exchange offers and many others.Sales promotion add value to the product or serviceIdentifying the sales promotion :When you are identifying possible sales promotions make sure that everyoneinvolved, including the customer, benefits.The benefits might be:
Access to communications channels such as lists, clients or advertising.
the 'feel good' factor the association creates for clients or customers
reinforcement of the company's image
 provision of rewards to clients or audiences
stimulation from working and learning from each other 
increased sales
 better seats, priority booking, private viewings, cheaper prices, learningopportunities and so on
They are involved in a broad range of marketing service.
Accounts handlers are heavily involved in the creative process.Role of promotion –To facilitate exchanges directly or indirectly by informing individuals,groups, or organizations and influencing them to accept a firm’s productsor to have more positive feelings about the firmConvey product and service information directly to target marketsegmentsProvide information to interest groups, regulatory agencies,investors, and the general public –To maintain positive relationships between a company and various groupsin the marketing environment
 
Information Flows Into and Out of an OrganizationA promotional activity’s effectiveness depends on the information available tomarketersThe Promotion MixThe particular combination of promotion methods a firm uses to reach a targetmarket AdvertisingA paid nonpersonal message communicated to a select audiencethrough a mass medium –Personal sellingPersonal communication aimed at informing customers and persuading them to buy a firm’s products Sales promotionThe use of activities or materials as direct inducements tocustomers or salespersons –Public relationsCommunication activities used to create and maintain favorablerelations between an organization and various public groups, bothinternal and externalPossible Ingredients for an Organization’s Promotion MixSales Promotion Campaign PlanningPromotional campaign –A plan for combining and using the four promotional methods— advertising, personal selling, sales promotion, and public relations—in a particular promotion mix to achieve one or more marketing goalsWhat will be the role of promotion in the overall marketing mix?To what extent will each promotional method be used in the promotion mix?Promotion and Marketing Objectives
 
Providing product information to target marketsIncreasing market share by convincing new customers to purchasePositioning the product relative to the images customers have of competing productsStabilizing sales by increasing sales during slack periods or for products that aredecliningDeveloping the Promotion MixMarketers may use several promotion mixes at the same time for different productsThe promotion mix ingredients depend on –Organizational resources and objectives –Target market characteristics –Product characteristics –The cost and availability of promotional methodsCORDINATION WITH SALES PROMOTION TECHNIQUE Consumer sales promotion techniques
Price deal: A temporary reduction in the price.
Loyal Reward Program : Consumers collect points, miles, or credits for purchasesand redeem them for rewards. examples are Pepsi Stuff .
Cents-off deal: Offers a brand at a lower price. Price reduction may be a percentage marked on the package.
Price-pack deal: The packaging offers a consumer a certain percentage more of the product for the same price (for example, 25 percent extra).
Coupons: coupons have become a standard mechanism for sales promotions.
Loss leader: the price of a popular product is temporarily reduced in order tostimulate other profitable sales
Free-standing insert (FSI): A coupon booklet is inserted into the local newspaper for delivery.
On-shelf couponing: Coupons are present at the shelf where the product isavailable.
Checkout dispensers: On checkout the customer is given a coupon based on products purchased.

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