All of the above statements about the proliferation of new products in the consumer marketplace are true. Sales promotion is the process of persuading a potential customer to buy the product. Noise. Another great example: Estée Lauder works with retailers to offer women free mini-makeovers that end with customer photos (against an Estée Lauder backdrop). Which of the following sales promotion tools should work best for Post? Today, more than ever, marketers are relying on digital platforms to sell their products. Target your effortPromotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current customers to buy differently, and stimulate business during slow periods. No doubt, these strategies are effective, but there are various market forces that can affect the sales … Another name for account-specific marketing is: The toy company Hasbro teamed with the retailer Toys R Us to create direct mail booklets offering discounts on Hasbro toys good only at Toys R Us stores. _____ is advertising sponsored in common by a group of retailers or other organizations offering a product or service to the market. This is an example of a(n) _____ coupon. Most of the sales promotional dollars are spent on consumer-oriented promotions. he oldest, most widely used, and most effective sales promotion tool is: _____ distributed the first coupon in 1895. allow a marketer to offer a price reduction to consumers who are price sensitive without having to reduce the price for everyone. Magazines and/or Newspapers 1. D. Firms spend more money on advertising than on sales promotion. This is an example of: Payments offered by manufacturers to resellers for merchandising products or running special in-store programs are called: Money that must be paid to a retailer so it will take on a company's new product is known as: Some retailers have demanded payment for new products that do not reach a minimum sales target. Printed coupons are still the most widely circulated, but printable coupons, distributed on web sites and via e-mail, provide a terrific way to test price offers with business friends and fans before incurring costs to promote the offer more widely via other media. For example, five-minute shoulder massages or one-hour home decorating consultations. Get heaping discounts to books you love delivered straight to your inbox. All of the following are examples of trade-oriented sales promotion activities EXCEPT: All of the following are examples of consumer-oriented sales promotion activities EXCEPT: Which of the following statements about sales promotion programs is true? _____ is a recent development whereby companies are customizing their sales promotion programs for key retailers. How to Stand Out As a Leader in a Saturated Online Market, Here's the No. Events and experiences draw customers for celebrations, product launches, special appearances or presentations, and other activities that combine entertainment with brand and product presentations. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Sales promotions are a campaign that uses time-sensitive offers — sales, discounts, coupons, etc., to engage existing consumers and bring in a larger audience. Acushnet ran a promotion offering a box of fifteen Pinnacle golf balls for the same regular price as twelve balls. Television and/or Movies 1. Plus, enjoy a FREE 1-year. Sales promotion can be developed as part of the social media or e-commerce effort just as advertising can, but the methods and tactics are much different. While evaluating different methods of promotion in marketing, one should realize these strategies are not set formulas or recipes for the successful launch and eventually high sales of the product. Sales promotion is a $300 billion—and growing— industry. Companies such as Procter & Gamble use _____ to reduce fluctuations in the retail prices of their brands. high value in package coupons and sampling. Efforts to change a brand's focus to target new markets or change the image of a brand are called. Demographic grouping is based on measurable statistics, such as: 1. The objective(s) of these sales promotion tools was to: Which of the following statements about sales promotions is true? Outdoor Ads 1. Business Directories 1. The oldest, most widely used, and most effective sales promotion tool is the cents-off coupon. Which of the following statements about the proliferation of new products in the consumer marketplace is true? The use of premiums is very popular among fast food restaurants as a way of attracting children. Samples would be an appropriate promotional strategy to: introduce a new flavor of sport drink to the marketplace. As a result, you must decide which of the following is most important so that you can target your effort: After carefully and thoughtfully defining the audience and the change you want your promotion to inspire, ask yourself this question: If you offer a time-limited incentive, is it likely that the customers you've targeted will respond? Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. They’ve already engaged with content, progressed through your sales process thanks to the efforts of your sales team, and expressed interest in a product. The basic purpose of sales promotion is to increase the sales of a product by creating demand. Which of the following is NOT a sampling distribution method? Serta, the manufacturer of mattresses, gave away a Serta Sheep Plushie toy to any customer who purchased a mattress from a Serta dealer. _____ is a practice used by some retailers and wholesalers whereby they take advantage of a promotional deal and then sell some of the product purchased at the low price to another store outside of the reseller's trade area or to a middleman who will then resell the products. Do you want to lure new customers into your business? Marketers communicate with their audience in order to inform, educate and persuade them to purchase their product or service. A half-hearted, poorly attended event is worse than no event at all, so plan, decorate, train your staff and publicize accordingly. This allows the business to tailor its marketing activities with the needs, wants, aspirations and expectations of target customers in mind. Consumer product companies launch approximately 20,000 new products each year. They can be the start of a prosperous relationship with new customers. Service businesses would do well to give away mini versions of their offerings. When she has purchased five books at regular price, she is sent a coupon for a free book to be picked out on her next visit to the store. According to the ad, enjoying Puerto Rico hospitality is "As Easy As Saying I Do." People correctly think that promotion money gets spent primarily on advertising. Consolidation in the grocery industry has resulted in larger chains with greater buying power and clout. Repositioning _____ is the number of categories within a product line. Marketing managers of a product with diminishing interest will run a sales promotion to keep the product in circulation. 1 Thing Brands Can Do to Avoid Public Outrage and Cancel Culture, The 2 Types of Authority All Businesses Need for Marketing Success, 3 Ways to Succeed in Marketing in the Modern Era. Then determine what your desired change will mean financially to your business. Sales promotion is a type of Pull marketing technique. Effective blending of promotion efforts is achieved through integrated marketing communications, so that the firm can send a consistent and complete message. Set the number of sales you want to ring up, dollars you want to bring in, customer names you want to collect, buying patterns you want to change, or any other objective you want your promotion to achieve. All of the following are reasonable objectives for trade-oriented sales promotions EXCEPT: to differentiate a brand through image enhancement. 1. Which of the following is an example of a sales promotion that can be used to contribute to franchise building? This is an example of a _____ premium. Intel and several different manufacturers of personal computers have joined to create and sponsor ads that promote both the computer and the microprocessor. It is a process of face to face interaction between the salesperson and the prospective customer. This is an example of a: provide marketers with a way to provide extra value to consumers without having them do anything other than purchase the product. You can use various techniques like giving discounts on the product, offering 1 + 1 free schemes, etc etc. Do you want customers to purchase more frequently, buy in greater volume, or be attracted to new or different offerings? Marital status 5. As early digital adopters, Asian American consumers can help deliver an immediate sales boost for those digitally savvy brands who make the effort to target them where they are. Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. In fact, coming up with attractive promotions has become a bigger deal than ever. Which of the following is a viable objective for a trade-oriented sales promotion? Consumer sales promotion is targeted to the ultimate consumer market. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else. Sales promotion is usually targeted toward either of two distinctly different markets. So basically, these are different tools with purpose of encouraging consumers, dealers as well as the company’s sales force. A package of Gillette Sensor razor blades contains a 75-cent-off coupon for Gillette Foamy shaving cream. But the strategy involves greater product design, production, promotion, inventory, marketing research and management costs. can be used to generate excitement and involvement with a popular and timely event. Discounts 1. 60, then a coupon with a face value of Rs. A(n) _____ is an offer of an item of merchandise or service either free or at a reduced price that is used to provide an extra incentive to purchase. Marketers can target sales promotion efforts to: When a marketer distributes coupons for a brand with a specific expiration date, they are attempting to use sales promotion as a(n): Coupons, bonus packs, premiums and samples are promotional offers that are targeted toward: Consumer-oriented sales promotions are part of a promotional ______ strategy. Sales promotions include all of the following EXCEPT: Internet banner ads _____ is any interference in the IMC process. Do you want to boost business during slow hours, weekdays or particular seasons? It can build up a long-term image for a product (Barbican ads) or be incentive to sale quickly (a Digikala ad for a seasonal sale). 2. Promotional activities designed to accelerate the purchase process and generate an immediate increase in sales without communicating information about a brand's unique features or benefits are known as: Which of the following would be NOT an example of a nonfranchise-building promotion? a free sport bottle with the purchase of a four-pack of Gatorade. Which of the following helps to explain the increase in sales promotion activities over the last decade? Trade sales promotion is directed to members of … The redemption rate for refunds is lower than that for coupons because: As a sales promotion, _____ has the advantage of offering a price incentive to the consumer, which may or may not be utilized, depending upon how the consumer acts after the purchase. Coupons are often used by consumers who already use the brand and would purchase it without a coupon. Consumers have become more sensitive and responsive to sales promotion because: Marketing planning and reward systems may lead to an increase in the use of sales promotion because sales promotions encourage: the use of price-oriented promotions to generate short-term sales. Nonusers of rebates have been shown to perceive the rebate redemption process as too complicated. 55. With that goal in mind, there are several different promotional vehicles marketers can leverage to ensure their message gets across to the consumer, one way or another. Marketers who are being held accountable for strategy implementation often need concrete methods to show the effectiveness of their decision-making. Showro… Critics of sales promotions contend the increase in sales promotions is leading to a decrease in: Which of the following statements correctly describes the relationship between brand equity and sales promotion? In a sales promotion sponsored jointly by Puerto Rico Tourism Board and Rums of Puerto Rico, couples were invited to enter a contest for a chance to win the perfect wedding. Race 7. It is the most sought after target market strategy because it has the potential to generate sales volume, higher profits, larger market share and economies of scale in manufacturing and marketing. Their selling activity becomes easier when the manufacturer supplements their efforts by sales promotion measures. It is a part of marketing communication which reaches your target market to gain awareness and foster conversation with prospects and customers. 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