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Sales promotion theory
Sales promotion theory
importance of promotion strategy
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This week, we are focusing on one aspect of promotional activities which is sales promotion. There are different definition given to the term sales promotion by different authorities and authors, but I will be using Tanner & Raymond (2010) definition which is the activities that complement a company’s advertising, public relations and personal selling endeavours. Pg 243. For example, distributing product samples to customers, an exhibition of product in stores or trade fairs or shows and preparation of printed materials for salespeople to use or displayed at the point-of-sales. Sales promotion is aimed at final consumer and designed to motivate, persuade and remind consumers of the offering.
There are different sales promotion tools that are commonly used in Nigeria to target
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It has become an alternative to paying retail prices and it has helped families to save during economic crisis. Retailer such as Jumai who work together with MTN, a multinational mobile telecommunication company operating in Africa, et al to study what customers buy, therefore use couponing to motivate their customers to purchase electronics, dresses, shoes by offering free voucher which includes stuffs like buy 3 for 2 or buy two get one free and 10-80% off the original price.
Lastly, the required infrastructure for sales promotion such as communication, social media, contact identification, collaboration, Customer Relationship Management (CRM), and research portal is in existence in Nigeria.
To conclude, there has been an increase in the usage of sales promotion by so many industries in Nigeria which has improved the gross margin. The most significant sales promotion tools have been mentioned above. It is, therefore, important that during the sales promotion activity, that management should strategically promote it in order to counter the doubt that might be in the customers mind by using reliable or credible approach.
Promotion is advertising to potential customers in and effort to create an awareness of your business. It is reasonable to believe that without the ability to advertise a company would have a difficult time generating new customers.
Perhaps the most versatile of the marketing Ps is promotion. It covers all phases of communication between the seller and the potential customer. It is versatile because a change in budget, media or target audience can be made quickly. Promotions also can be effectively changed for specific market segment efforts. Major promotional concerns include the following:
Promotion is to introduce a product to the market , and enhance the public awareness of the product. Promotion through advertising , public relations and the Internet to promote products to increase consumer spending.
There are three questions that I come from my mind when I think about this question. One is if the promotion is really in the interest of the customer and not just because it is being presented just for business. The reason why I think about this is that sometimes promotions are being offered to people, but the presenter have no care whatsoever unless its for the business. Part of being a service manager is to understand what customers want and treat them in a way that they are important instead of being seen as money. Another question is if the promotion explained clearly? If the promotion isnt being explained clearly then the customer is signing up for something they don’t need in the end. I see this happen a lot for practically anything type of service being offered and it bothers me half the time to be presented with half the information. Last but not least is if the promotion translucent? This is because sometimes the seller or presenter usually likes to hide things that...
Promotion refers to informing the customer that such product exists; pointing out the advantages of the product over those offered by the competition, and letting the customer know where to buy the product. Furthermore, promotion might include ads placed in the magazines, public transportation, TV ads, online marketing, and direct marketing, using the e-mail, or Facebook targeted ads.
Promotion, one of the 4P’s in the Marketing Mix, is communicating with the customer about a particular product to the customer in such a way that makes the product attractive enough to fulfill a need or want. There are several components, which make up promotion, referred to as integrated marketing communications (IMC). IMC includes advertising, selling, sales promotion, and public relations (Boone & Kurtz, 2013).
Personal selling: personal selling promotion is like aware customer about product and deals one by one or personal like leave vouchers and flyers of new product or deal in letter box or sent emails to customers.
Marketing is integral and pervasive to every business level. Strategic promotion portrays the marketing exercises which influence the commercial, and promotional arrangements of the companies. Vital marketing exercises comprise three fundamental activities. To begin with, promoters help to establish organizations and start association towards business sectors and clients. Consequently, they help in assisting the associations in execution and promotion of key planning procedure. Secondly, promoters help to collate and analyze existing data and identify deviating patterns in the promotional activities, and evaluate the possible potential effects. Such analysis supports with vital decisions required for making commercial and promotional arrangements.
Selling is a common promotional tactic used by organizations that market goods and services to consumers or firm buyers. It commonly involves face-to-face meetings between the sales representatives and prospective buyers. Selling is more common when organizations that market big-ticket items, such as furniture, cars and appliances (Armstrong, 2009). In such organizations large purchases usually mean more persuasive and communication efforts by the sales people with prospects. Such organizations often use promotions such as advertising to build awareness and attract potential customers which are then left to the sales people to convert them to sales. Thus the level of sales is dependent on
Any product needs to be marketed to the consumers who look forward to that which creates a lasting impression at the product as well as emotional level. For all companies ranging from small retail organizations to big multinational companies, which strive to satisfy the customers, marketing is one of the critical functions which facilitate them compete in the market place, according to ‘Advertising and Promotion’ by Belch and Purani (2013). To achieve the same, these market-driven companies need to develop and maintain their relationship with customers. To appeal to the people, the company that offers the product or the service needs to get its ‘Unique Selling Proposition’ right and compel the audience to purchase the product or avail the service. The companies use advertisements to serve that purpose.
consume more than they normally would. They are deals or sales that help the customer save money on a product but also give the company more business. I live in a few different places so I will talk about Pakistan as my country today. In Pakistan, the internet boom is in its prime. However, a large population is still unconnected. Cell phones are in every hand but Wi-Fi isn’t available everywhere. These things matter a lot when it comes to sales promotion content. Pakistan is still a developing country so we can’t expect it to be at the peak of modern times. I will proceed to identify and provide examples of three sales promotion
Sales promotions offer customers an incentive to buy an item. Sale promotions are promotions such as coupons, percent off, rewards and rebates. Sales promotions can be an important part of building brand equity. Sales promotions can increase sales and attract new customers.
Promotion. Finally comes promotion - informing the customer on the qualities and advantages of the product so that the potential buyer learns about the product, prefers it to those of the competitors, and has an opportunity to buy it at some place.
Two recommendations for promoting direct-sales through consumer and the business; One is to offer incentives to its customers and second is to motivate the business to promoting its products by advertisements, establishing sales competition for employees, participating in conventions, and by endorsing franchise of its products to retail stores.
Purpose of Promotions and Advertising The purpose of promotion is to communicate directly with potential or existing customers, in order to encourage them to buy the product and recommend it to others. The promotional mix involves different forms of promotions. There are: * Personal selling * Public Relations * Sales promotion * Direct Marketing * Trade Fairs and Exhibitions * Sponsorship * Advertising v Personal selling It is a form of promotion which involves direct contact between the Lancôme's sales representatives and prospective customers. Normally it can be seen on the street or in centres. Advantages * It is easier to persuade customers to buy the product * The selling person may know what the feeling/reaction of the customers is * It is clear to let customers know everything about the product such as functions, where it made and background etc Disadvantages *