“Sales promotions are temporary incentives targeted at the trade (called trade promotions), or at end consumers (consumer promotions). Sponsor charity or community events – they frequently garner media attention. Larger retailers often use traditional media, such as television, radio, newspapers and magazine publications to let customers know about current and upcoming discount opportunities. Sales promotion is an effort that provides a special incentive to buy which may be in different forms. In the store, red or yellow sale signs on labels denote sale products with reduced price points. 3. 1. Sales promotion devices bring quick and immediate results than other methods like personal selling and advertising. 5. Monitor customer traffic based on the type of medium used for communication. A seller’s market is not everlasting. Premium is an article of merchandise used as an extra inducement to buy another product.
They will often handle the materials in a way that the producer did not intend to. (iv) How these techniques have been helpful in influencing the buying behaviour and brand choice of customers?
A firm’s promotion strategy wanting to sell only to a few customers will be quite different from a firm wanting to sell its product to the masses or to develop its own image in the market. According to Philip Kotler, sales promotional tools have three distinctive characteristics: 1. Successful sales promotions like this have the potential to build short-term excitement and long-term customer relationships simultaneously. Share Your Word File “Sales promotion means, any steps that are taken for the purpose of obtaining or increasing sales. Welcome to EconomicsDiscussion.net! Before publishing your Articles on this site, please read the following pages: 1. Certain products are standardized and their promotional themes are also standardized. Before publishing your articles on this site, please read the following pages: 1.
Some of them are discussed below. functions relating to retailers and wholesalers, sales demonstration, decorations and to find prospective customers. Sales promotion is a part of promotional mix. In short, Sales Promotion is any activity which supplements or improves the effectiveness of personal selling and advertising. Therefore, it can be said that any process whose purpose is to increase sales is sales promotion. 3. To increase the inventories of middlemen and consumers. The market which is a seller’s market today may become a buyer’s market tomorrow. The nature of the product or the services offered by the firm is another factor that will determine the promotion strategy of a firm. 5. Companies make special selling efforts for the specific time period by offering short-term incentives and schemes at consumer level, dealer level or at salesmen level. 7. to prepare an advertising copy and to plan advertising programmes. Sales promotion refers to the activities which supplement and co-ordinate personal selling and advertising to attract customers to buy a product. The sales promotion programmes are often designed to accomplish the following objectives: 2. The following items are used in sales promotion efforts under different conditions: Advance Premium is a gift given before the sale, usually in return for a promise to buy later or to become a regular customer. Such advertisements are often placed by the Commodity Boards or the Export Promotion Councils. 2. This department completes all the functions related to sales. J. Stanton, “Sales promotion is an exercise in information persuasion and influence”.
Sales promotion tools are short term strategies to attain high sales volume immediately. Buying Allowance – It is a short-term device which is used to induce the middlemen for promoting sales. 15. The promotional themes and programs may be used in the standardized form or with slight modifications. But this scheme is very costly. 10. This department also performs educational functions. Sales revenue is the important source of income also. Free offers are free gifts to attract customers in anticipation that a sale of the product will be made. But the task of international marketer is compounded where a certain type of media is just not available. Price off – Many producers introduce price of offer to the buyers. Any carelessness to such provisions may cause harassment to the marketer. (a) There are specific prohibitions on advertisements on certain products like wine, cigarettes and tobacco, and certain types of drugs etc. The manufacturer must keep the needs of the consumer in mind. Sales promotion refers to the activities which supplement and co-ordinate personal selling and advertising to attract customers to buy a product. (vii) What they feel about using these techniques throughout the year?
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