In the meantime the others will cross their fingers and cheer as their egg is dropping in the landing area. Sales promotions: Promotion is one of the 4 p’s of marketing. It’s one the major attributes of any product or services and it’s also known as marketing communication. To attract more consumers, companies engage in various promotion strategies and techniques which help them generate revenue. Unlike an advertisement which concentrates on giving the consumer a reason to buy, sales promotion offers an incentive to buy.
However, when the new brand or exist brand pack in different way with others, this will attract some of the consumers to take a look or buy it. This make the consumers to choose another brand to get a new favor and taste. They only assess the product after consuming. The marketing strategy is to target in different category of age towards the product. The powerful firms use lower prices, deals, packaging, coupons, free testing and advertisements to promote their product so that the firm’s products can compete in the market.
Sales promotion are short-term promotional activities firms use in addition to advertising, public relations, and personal selling in order to sell a product. (Tanner, & Raymond, 2010, p. 237). There are several types of sales promotion tools used to target consumers and other organizations. The sales promotion tools used to target customers include sampling, coupons, point-of-purchase displays, premiums, contests, loyalty programs, and rebates. Three sales promotion tools used in my country to target customers are sampling, coupons and loyalty programs.
First, it is intended to provide vital marketing information to the prospective buyers. The second objective is to encourage and persuade the potential buyers through convincing measures. Thirdly, sales promotion is meant to act as an authoritative tool of rivalry. The goal of sales promotions is as follows: 1. Introducing new goods or services: Sales promotion is often used to encourage potential shoppers to try new products and services.
Thirdly, sales promotion is meant to act as an authoritative tool of rivalry. The goal of sales promotions is as follows: 1. Introducing new goods or services: Sales promotion is often used to encourage potential shoppers to try new products and services. An example is the Spiceland Mall international Ltd in Grand Anse. It is the first and only shopping mall in the country to set up a supermarket.
We have sales promotion, digital, direct, indirect and guerilla marketing, database marketing, public relations, product placement and events. Although the importance and relevance of all these tools differ in consumer vs business to business marketing. Sales promotion for business to consumer marketing is about enticing consumers to buy your product. It lasts for a specific period of time and includes free samples of the product, free gifts, special prices, coupons for future shopping, premium product and contests. On the contrary, business to business sales promotion are not so extensive.
Whatever the ways are used for promotion it is essential it should be suitable and valuable for the price, the product and the consumer who is going to buy the product and for whom it is being marketed. Communication aspect of the entire marketing function is thus Promotion. Place: Distribution plays a vital role in placing the product. This strategy helps in assessing the channel which is suitable for the product. Also, how the product is assessed by the end user need to be looked upon for the product strategy.
Product, price, place and promotion as the only means and tool to market and communicate regarding their product to the customers. Segmentation was another key feature of conventional marketing. Segmentation basically divides the market and groups them into groups of similar liking and expectation. Brands can be then categorized and presented to these segments to match their expectations. The business scenario is changing
You can try to invites for media coverage and influence them through press releases, but the media could put a negative spin on the story. Sales Promotion Sales promotion makes use of a variety of tool, such as discount coupons, premiums, daily deals, contests etc. They attract attention, offer strong purchase incentives, and often boost sagging sales. They stimulate quick response, but they are short-lived and are not effective at building long-term brand preferences. Direct Marketing This is a highly personalized communication tool, which is addressed to a specific person through telephone marketing, emails, online media or mobile messages etc.