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SALES PROMOTION How have you been induced to buy merchandise?
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Transcript of SALES PROMOTION How have you been induced to buy merchandise?
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SALES PROMOTION
How have you been induced to buy merchandise?
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Sales Promotion
Is short-term incentive to encourage buying
Its purpose is to increase demand and salesIt can be either trade- or consumer-oriented
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Trade Promotions
Slotting AllowanceBuying AllowanceTrade Show/ConventionsSales Incentives
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Slotting Allowance
Paid by manufacturer to retailer
Essentially buying shelving space in a store
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Buying Allowance
Price DiscountUsually for buying in large quantities or
bulk
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Trade Shows/Conventions
Introduces new productsPromotes good will with company
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Sales Incentives
Awards given to employees for sales of a certain product
Can be in the form of contestsInsurance SalesDirect TVCan be cash, trip or other prizes
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Consumer Sales Promotions
Premiums – coupons, factory packs, traffic builders and coupon plans
Incentives – Contests, Sweepstakes and rebatesProduct SamplesPromotional Tie-InsProduct PlacementVisual Merchandising and DisplaysLoyalty Marketing
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Premiums
Low cost items given to consumers at a discount or for free
Designed to build product loyalty or attract new customers
Plan for low cost itemsProvide an added valueNegate the price issueDifferentiate products from the competitionCreate an immediate need
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Coupons
Use coupons to introduct new productsEnhance sales of existing productsPlace on or inside packagesSent through regular mailFeatured on web sitePrinted in newspapers or magazines
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Factory Packs
Free gives in other productsOften used in cerealsPrize in Cracker Jack
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Traffic Builders
Giveaways at Grand OpeningsVisiting a new store or special eventFirst 100 customers . . .
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Coupon Plans
OngoingPromote brand loyaltySend UPCs and get a free cookbook
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Incentives
Usually higher pricedContestsSweepstakesRebates
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Contests
Games or activities that require skillExamples
– Name a new product– Come up with an Advertising Slogan– Brittney’s project
Prizes awarded to winners
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Sweepstakes
No purchase necessaryGame of chanceHope to increase your traffic flow and
sales
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Rebates
Discounts by manufacturersWithin a given time period
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Product Samples
Way to promote new products with no risk to the consumer
By mail, door-to-door or at storesDrug samples to doctors
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Promotional Tie-Ins
Arrangement between manufacturersFor example:
– McDonald’s Happy Meal toys and– Disney movies
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Product Placement
ExposureProduct recognition through special events,
television or moviesJames Bond – Rolex Watch and BMWCoke vs. PepsiIn movies ($$)
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Visual Merchandising and Displays
Window, floor or counter displaysIn-store advertising
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Loyalty Marketing
Frequent Flyer ProgramsPromotes loyaltyOffers consumers incentives not to buy
from the corporation.
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Activity: Promotional Calendar
Prepare a promotional plan/calendar for a year for a product/service of your choice. Incorporate all four types of sales promotions!