- Lynn should structure here presentation following the formula method. This is also known as a persuasive presentation. The book defined this as “A presentation by which the salesperson follows a general outline that allows more flexibility and tries to determine prospect needs” (pg 281). I think that this would be the most fitting because of the lack of success McBath products have had with the chief purchasing agent of Federale, Mary Bruce. The case study presented the strong support and quality Lynn had in the product that she was attempting to sell. She was also going to present a new concept to Mary Bruce, something that she hadn’t heard the past six times she turned away a McBath salesperson. Lynn was going to bring to the table a new innovated display that both increase sales and ensure more consumer ease while shopping. Also, the case study talked about the fact that it would only take an hour to assemble the display that would not take much space and the McBath would also start an advertising campaign that will endorse the product and the display scheme. All of these are ammo that Lynn can carry into her meeting with Mary Bruce. The persuasive presentation method will allow her to present the information and concepts logically, while also giving time for interaction between the buyer and seller (pg 282). It is also important for her to know her own company along with the reseller (pg 182). Knowing the product you are selling will give the buyer confidence that this product is high quality and will generate revenue. At the same time it is important to know the reseller, because it will give an advantage of addressing reasons why this purchase is necessary and an opportunity. The selling points are a combination of increas...
... middle of paper ...
... specific date (pg 208). This would allow for McBath to get the money quicker, while also allowing the retailer to save money on the purchase price.
The trade discount was defined in the text as “discounts on the list retail price offered to channel members” (pg 208). This would increase the incentive for more merchandise to be purchased by the channel members.
The consumer discount method could be pivotal for increased sales. It would allow the reseller to sell a product to the customer at a discounted price. (pg 209). The manufacture would then repay any lost income from the coupon. More of a product would be purchased, which is a win for both the reseller and the manufacture. I see this kind of stuff at Wal-Mart all the time when I use a coupon for some things. It says on the back that the manufacture will compensate the prices lost based from the coupon.
2. Look back at "In Persuasion Nation." Write a number of advertisements for real (or imagined but realistic) products in the same fashion.
After he was hired, then CEO Ron Johnson introduced a pricing philosophy called “the true price,” which involved the replacement of sales through coupons with everyday low prices. This eliminated the need to inflate prices that would later be discounted for sales. However, Johnson overestimated the rationality of consumers and forgot that coupons were communication tools that announced the beginning of the shopping season5. Their core customers were dependent on coupons and often times waited until sales before they would shop. The coupons gave customers psychological justification to shop for good deals. Besides alienating core customers by removing coupons and sales, he tried to turn JC Penny into a more modern shopping experience complete with boutique stores within the larger store, Wi-Fi, and juice bars with smoothies and coffee3. National brands replaced p...
1. In the case, Marty Manley recognized that the used book market has changed significantly since Alibris started working on their pricing module and providing pricing services. Marty realizes that in order to help Alibris suppliers successfully weather this market change, he needs to help them understand what is going on and how it might affect the value of their businesses as well impact their revenues. How well do you think he achieved this informational/teaching goal for the business partners? (of understanding the market) (Katherine)
The issue is whether the exception for volume purchasing to the rule of universal pricing for wholesale transactions under Robinson Patman Act is Constitutional. A functional discount occurs where a buyer is permitted to purchase a product at a lower price per unit than another buyer. The legality of the practice, however, is less than clear, since functional discounts often present both buyers and sellers with many legal 'problems under the Robinson-Patman Act.
Current trade deal promotions are destroying our margins, retailers take advantage of these promotions because is profitable for them. For example, every year during the 6 week “back to school season”, if we launch a trade promotion for two weeks, retailers will buy inventory that covers all 6 weeks of the seasons, and they will extend the discounts to the client to increase their volume but eroding our brand equity, they will get a 5% increase in their margin and we’ll get a 15% reduction (Exhibit A, trade promotion). In a “best case” scenario, the retailer and the client are benefitted, but more often than not, only they retailer gets the benefit as they don’t pass the savings to the consumer.
Consumers may not understand why retailers offer buy-one-get-one free promotions even though it’s no better for the consumers. Economist Alex Tabarrok has argued that “the success of this promotion lies in the fact that the price actually takes into account the fact that two items are being sold.” This strategy ...
The business intends to convince prospective customers to try out the prickly pear products. This will be through the use of radio, billboards, and television as the primary media channels. The reason behind the Company’s choice of this marketing strategy is that the advertiser has full control of the message that is
When combing coupon codes, use piggyback sites, and researching both brick and mortar and online stores, any consumer is able to generate the best price possible. The consumer holds the wallet that holds the power, and the consumer has the knowledge to use it.
The strategy of a low-cost provider is to pass along negotiated price advantages to the consumer. This practice encourages the continued patronage of existing consumers while attracting consumers who are looking for ways to improve their shrinking budgets. Although the profit margins are reduced for these types of transactions, a company can make up the difference by increasing the quantity sold. Successful companies that have initiated this strategy include Walmart, Spirit Airlines and Taco Bell. While these companies are not in competing markets, they have shown that the low-cost provider strategy can be successfully applied to various consumer venues.
As we know, J-mart uses the personal selling strategy in order to promote it products to their customers. J-mart can offer discount for the loyal customers so that they remain to purchase the daily products with J-mart. By giving benefits to the customers the customers will help to promote the store to others.
With the advent of direct-to-customer (DTC) advertising, patients are becoming much more involved in the whole process and are certainly more educated than ever before. Today, even doctors have become more technologically savvy and it is important that sales representatives find what works best for physicians so that they can maximize their interactions. A lot of the changes to the sales model have certainly been for the good of the entire industry, as the days of the pharmaceutical “Wild West” are long gone and regulations have seen fit to coral in rogue sales
In this scheme, current Sales data will be compared with the Previous Sales data and discount will be given on the basis of growth percentage
Discount or Rebate: This is the reduction in price offered on the marked or listed price.
At the start of this module, I had no idea what to expect. When I heard the term “Marketing”, only one thing came to my mind: presentations. When I used to be in school, I remembered vaguely that my presentation skills weren’t exactly even close to Suze Orman, who is considered to be America’s most motivational speaker. In fact, they were so bad, I wasn’t sure of doing this course in the beginning. But then it wasn’t like I had a choice. I had opted for BA Hons. Business Management and the course came along with a module named Marketing.
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.