Sales promotional devices are the only promotional devices available at the point-of-purchase. Coupons 2. Discount induces the customers … Hundred prizes of Rs. Full Finance @ 0% 10. Offering free gifts or samples is the most expensive form of sales promotion. Every imaginable prize or reward is used to excite and attract customers to participate. Pack premiums on packs, as bonus packs. Content Filtration 6. Retailers may announces price discounts for a variety of reasons. Often a combination of contest and sweepstakes is employed in some promotions. Sometimes, coupons are introduced either through press advertising or through the package of the product itself, which induce the consumer to buy the product at a concessional price. It is a process of evaluation cost and output of sales promotion methods. The scheme may be like – “Scratch a card (or burst a cracker) and instantly win a car, A.C., fridge, T.V., computer or electric iron on the purchase of a T.V.”. Thus, retails stores try to focus customer attraction by carrying out sales promotion techniques. Winners are determined by a drawing from all entry forms. Refunds and Rebate – An offer by manufacturer to give back certain amount of money to consumer. This method aims at stimulating the channel members to purchase additional quantities of stock that is over and above the normal stock, as the monetary incentive they receive is proportional to the amount of additional stock they purchase. This is a way to reward the present consumers and may not have any impact on the users of competitive brands. This creates confidence among the customers with regard to the quality of the product. If there are three different models of a product and because of the discount offer the price of the higher end model appears not too high to the consumer, compared to the lesser- priced model, then consumer may buy the higher end model. As a matter of fact, sales promotion activities aim at supplementing and co-ordinating personal selling and advertising. Sales promotion devices at the point of purchase inform, remind, and stimulate buyers to purchase products. Special Commission on achieve pre-determined sales targets, Higher rate for Higher sales. Before publishing your Articles on this site, please read the following pages: 1. In such a case the objective would be to encourage shopping at a particular store and buy a certain manufacturer’s brand. Similar discounts are often advertised by retailers in local media (called feature advertising) and by manufactures in national print and audio-visual media. Convention – By this the company gets many benefits like finding new sales leads, contacting customers, introducing new products, meeting new customers, selling more to present customers, and educating customers with publication and audio-visual materials. 10,000 in cash and Rs. iv. Sales promotion includes techniques like free samples, premium on sale, sales and dealer incentives, contests, fairs and exhibitions, public relations activities, etc. These measures are called the tools or techniques of sales promotion. Such discounts may appear in newspapers, magazines, and television advertisements. Dabei können wir uns auf eine speditive und unkomplizierte Zusammenarbeit verlassen, die wir gerne in Anspruch nehmen. They are known as techniques of sales promotion. Bonus packs are generally limited to low bulk, low-price products, however, of late exceptions, such as Akai offer have been observed. This dampens the competition for a while. A great sales technique – pick one from the list below. Discount – This refers to reduction of certain percentage of price from list price for a limited period of time. Coupon books are sent out in newspapers, or offered with the purchase of an item in a given time frame. Marketing Management, Promotion, Tools, Sales Promotion. “A sweepstakes does not call for the application of skill on the part of the consumer. 30,000 in 12 equal instalments of 2,500 each by post-dated cheques and get a bike on the spot.” This tool of promotion misleads the customers and so should be avoided by the marketers. Patronage reward – Cash or gift, for the regular use of a particular product of the company like privilege card membership given by the company to the regular user of the products. This technique induces customer to buy their requirements from the retailers who offer such stamps. Sales promotion efforts attempt to attract the attention of customers at the point of sale and enhance sales volume. Manufacturers devise the strategy such that the customer qualifies for a refund only when he makes multiple purchases. It uses many tools as used in trade promotion and consumer promotion. Refund offers can be used to achieve a variety of promotion objectives, such as to guarantee trial, to reward loyal consumers, to load consumers, to increase purchase frequency, to introduce new products, to enter new markets, to encourage the purchase of related products, etc. Both are components of a company’s marketing scheme will use to promote its products and services. Their purpose is not to create immediate demand or to increase sales. Uploader Agreement. Generally, the free gift is related to the product but it is not necessary. Sales promotion methods include displays, demonstrations, expositions, exhibitions and other non-recurrent selling efforts that aim at impelling spot buying action by prospective customers. It increases sales and makes sales of slow moving products faster and stabilize fluctuating sales pattern. It is termed as banded pack offer when two or more units of a product are sold at a reduced price compared to the regular price (couple of months ago, Lux International offered a similar deal. People who see these devices are in a buying mood and thus they can be easily persuaded to buy those products. Samples – Small quantity, sometimes free of cost or sometimes at minimum price, sent door to door personally or through mails or with other products etc. Under this scheme customers are given assurance that full value of the product will be returned to them if they are not satisfied after using the product. It is a good device for creating new user and to strengthen the brand loyalty. Advertising is defined as any form of paid communication or promotion for … Consumers are often attracted to promotions where the potential benefit obtained is unusually high. pen, dairy, calendars, key etc. When used as an offensive weapon, the objective is to generate additional sales and increase market share and long run profits. Sales contest – It involves salesmen or dealers to motivate them to increase their sales performance during a given period, with prizes going to those who did best. These include greetings or thanks in newspapers, donating space for noble causes, offer of Privileged Citizen Card, etc. This Topic is part of topic Promotion of chapter - Marketing Management of class 12 Business Studies. sales promotion tools and its impact on customers buying behaviour with special reference to Rathi Build Mart, Raipur. 100,000 each, seven hundred prizes of Sansui music systems, seven thousand prizes of Kodak cameras, and many Timex watches. A sweepstakes is a random drawing and is sometimes called a chance contest. How to choose your sales tools. Keywords: Sales promotions tools, Consumer buying behavior, Purchase decisions, Marketing Introduction Retail market is growing in a high velocity environment all over the world. Sales promotion is generally defined as those marketing activities that provide extra values or incentives to the sales force, the distributors, or the ultimate consumer and can stimulate immediate sales. Such displays act as last minute inducement to buy. Fourth step is to ensure the legal validity of the sales promotions schemes to be offered for customers and traders. The best example of this is the frequent flyer scheme offered by airlines. In case of consumers sales promotion programme, an attempt is made to reach the consumer at his home or at a retail store. Interrelationship of Sales Promotion and Advertising: Sales promotion includes all those activities which promote sales such as distribution of samples, discount coupons, contests, display of goods, fairs and exhibitions, etc. Free Samples 3. This type of promotion must be used with care as the increase in sales is gained at the cost of a loss in the profit. In the demonstration method, the technical experts or sale demonstrators are sent to various customers to induce them to buy the product. (iii) Creates upsell and cross sell opportunities – When you package or bundle products around a theme or solution, you can often generate sales of multiple items rather than a single item. a. In-Pack, On-Pack, and Container Premiums: These various terms for premiums are primarily used to distinguish the difference in methods of rewarding the consumers. roughly a ratio of 60:40 is maintained in dealing both of them. Community smaller than society. Sales promotions are those activities, other than advertising and personal selling that stimulate market demand for products. The terms refund and rebate are used as meaning the same thing/Long ago, the term rebate was popular by the automobile industry in the developed countries. Marketers use this technique when they use new distributors or they want to push products to retailers. Sales promotion is a type of Pull marketing technique. Stamps are issued at predetermined percent rate of the purchase amount. Free Goods – An attractive coffee mug free with a pack of 200 gms. Sales promotion is an important tool of promotion which supplements personal selling and advertising efforts. ii. For example, Maruti announced a gift cheque of Rs. Consumer promotion Trade Promotion Tools Nestlé Bangladesh Ltd. uses trade promotion to persuade itsretailers to carry its brands, give it shelf space, promote it inadvertising and push it to consumers. Unlike, price cut off or discounts, rebates are provided after the full payment of full invoice amount. 5 on returning the empty packages to the dealer. Sales promotion acts as a bridge between advertising and personal selling. This is useful for drawing attention to product improvement. Towels, dinner ware, hair-brushes, key-chains, artificial flowers, ball pens, toilet soaps, bathing soaps, blades, are given as in-pack premiums. The retailer- originated coupons generally have one objective, to encourage the consumers to shop at a particular store. A visit to your nearby supermarket will reveal numerous sales promotion schemes of various products, simultaneously vying for our attention. Direct premiums are used to reward the customers immediately at the time of purchase, and mail premiums require the customers to take some action, such as mailing the proof of multiple purchases to the marketer. To attract new customers distribute free sachets to households. This too may or may not involve the purchase of any product or service. A very tempting promotion, and simple too. The gift is sent by the manufacturer by mail or through courier. Privacy Policy 9. Generally correct entries, running in thousands, are received. It motivates sales force to give desire emphasis on new accounts, latent accounts, new products and new territories. BUY ONE GET ONE, BUY TWO GET ONE FREE are the usual offers made to the customers to appeal them. In case the coupons happen to be related to some current fashion or fad, then younger, middle-income individuals are likely to be attracted. Refund offer creates additional interest and increases sales considerably. vi. In certain case all those who furnish the proof-of-purchase are given some specified premium. The manufacturer of Sensodyne has been reaching out to local dentists of Mumbai who have been distributing free sample of these toothpastes to create awareness among their patients. Where advertising offers a reason to buy, sales promotion offers an incentive to buy. Dealers promotion methods are those which encourage dealers and distributors to buy and resell more and more quantity of the product. Sales Promotion is one such strategy which is used by marketers to attract new & prospective customers towards their products and retain the existing ones. (c) Consumers use coupons for products which are consumed regularly, such as tea, coffee, laundry products, etc. xiii. Offer of a coupon is a very versatile technique and can be used to achieve many different sales promotion objectives. and may soon be forgotten. According to American Marketing Association, “Sales promotion includes those marketing activities, other than personal selling, advertising, and publicity, that stimulate consumer purchasing and dealer effectiveness, such as displays, shows and expositions, demonstration, and various non-recurrent selling efforts not in the ordinary routine.”. To overcome the seasonal fluctuation of products. Refunds and rebates (both terms are used interchangeably), a. In-packs, on-packs, near packs and container premiums. Many people have a misconceived notion that sales promotion is nothing more than advertising. Under this scheme, a customer scratches a specific marked area on the package of the product and gets the benefit according to the message written therein. Of course, the discounts may differ across product categories. Sales promotion activities – effective tool of marketing communication This is achieved by providing special varieties of goods (Liberty showrooms at Connaught Place and other places in Delhi provide different varieties, shapes, styles, colours, etc.) These stamps are given free of charge and the customers can redeem them to obtain products out of the specified list. To decide which entries are first second, or third, etc., an expert or a panel of experts examines the entries and judges the winning ones. This also offers consumers the satisfaction of being “smart shopper”. Advertising. (iii) Stimulation of Demand of New Product: Promotional activities are used to create interest in the new product and to persuade people to buy the same. Free Services 8. Most of these techniques can be used both for consumer as well as trade promotions. Considerable brand switching is possible if only one proof-of-purchase is to be sent to the marketer. If advertising is related to “buy our product” then sales promotion is the representation of “buy the product now”. Price-packs are also called value-packs. POP displays include window displays, wall displays, display racks, danglers, balloons, outside signs, etc. When an additional compensation is offered to trader for pushing additional product in market, this method is used to push a specific product or product line. ii. In this article we will discuss about sales promotion. From the marketer’s perspective, sales promotion serves three essential roles it informs, persuades and reminds prospective and current customers and other selected audiences about a company and its products. Dealer sales promotion provides the selling devices. The assurance given to customers is that if the product is not liked after usage for any reason, total money will be refunded or the customer will have the option to buy any other product of choice. Consumer promo­tion methods are those which directly encourage consumers to buy product in more and more quantity. The sales promotional devices at the point-of-purchase stimulate the customers to make purchase promptly on the spot. Marketers employ a remarkable variety of sales promotion tools in marketing. When all similar products in a certain price range are perceived as basically alike, a premium offer with the purchase of the product is quite an effective method to gain shelf space or even display. c. Coop Sampling in which several different products are delivered in same container or at same time and distribution costs are shared by various manufacturers. Share Your Word File Anyone can send the answers to the questions on a postcard. 29. Samples help consumers verify the quality of the product. For example, woolens are put on discount at January-end each year, the end of the winter season. This is where the different types of marketing analysis methods, techniques, and tools come to help.. Trade shows, fashion shows or parades, fairs and exhibitions are important technique/tools of sales promotion. When a buyer gives a coupon to the dealer or retailer he gets the product at lower price. These objectives are for both marketers and traders. If you have a product which is new in the market or which is not receiving a lot of attention, then you can promote this product to customers via sales promotion.You can use various techniques like giving discounts on the product, offering 1 + 1 free schemes, etc etc. viii. In these contests, participants compete for prizes on the basis of their skill or creative ideas. These tools increase sales, introduce a new product to the market or meet competition challenges. This type of refund policy builds store loyalty among consumers who continue the patronage. For example- a 15 to 60 percent off on clothes before some festive season in retail shops are examples of sales or sales promotion. This will help to figure out whether they warrant additional investment of time and money to make them permanent products or services; (viii) Grows revenue – Sales promotions are a great way to build year-over-year and month-over-month revenue growth. This type of sales promotion is targeted at the end consumers. Marketing, Products, Sales Promotion, Sales Promotion Tools and Techniques. 2. Quantity Discounts for purchasing product in large quality. Sales promotion helps remove the consumer’s dissatisfaction about a particular product, manufacturer, and create brand-image in the minds of the consumers and the users. Except for advertising through direct mail, advertising deals with media owned and controlled by the firm itself. This may take any of the two forms, bonus pack and banded pack. Dealers promotion methods are those which encourage dealers and distributors to buy and resell more and more quantity of the product. These techniques are discounts and deals, increasing industry visibility, price– based consumer sales promotion and attention– getting consumer sales promotion. The Sales Promotion tools are directed towards Consumers (Consumer promotion tools), Dealers or middlemen (Trade promotion tools), and Sales force. ii. v. Sales Contests and Sweepstakes – Three kind of contest prizes are – (a) Cash awards, (b) Merchandise Prizes, (c) Special Honour viz., winner to appear in a TV show. Everything you need to know about the tools and techniques of sales promotion. The promotion named “Crorepati Hungama” lasting one month (1st December to 31st December 1999). On returning the empty pack, the customer gets Rs. Effective sales promotion tools are tailored to presentations at events or trade shows, door-to-door sales, retail sales, direct mail advertising, telemarketing or Internet-based marketing. An original creative concept – this is an essential part of the process, … Sales promotions encourage the customers to try a new product. Cheap Bargain – To get another product at a very cheap rate while buying a product; e.g., A bucket of plastic of 5 litres only at Rs.6 with every pack of ‘SURF’ of 1 kg. A discount coupon is a certificate enabling a consumer to get discount on buying a particular product. -- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. Producers/retailers may promise free service to consumers for a specified period of time after sales. If you run sales, you need to promote them properly in order to get the word out to your target audience. Meetings and Seminars by Producers of all dealers/ distributors where all problems of middlemen are discussed and solutions given. Almost all promotions make use of one or more of these tools, alone or in some carefully developed combination. CODES (12 days ago) trade sales promotion examples - My Best Coupon Codes. Such promotions work very well in gaining the attention of consumers, particularly at the point-of-purchase (POP) among similar brands, and may also encourage unplanned or impulse buying. In some cases, this type of programme is also conducted to retaliate against a competitors’ sales activities. These are also offered to retailers to popularise the product and brand name of the manufacturer. These tools are unique in their way and directed differently to these three groups. For that, company provides extra commission, buy back guarantee, price offs, allowances, gifts, free goods to them. Demonstration at retail stores, fairs and exhibitions or (Demo) even door-to-door. The motivation to purchase and continue purchasing the product gets shifted to the incentive of premium as the purchase situation is one of total low-involvement as far as the product category is concerned. They are also known as Trade Promotion. Sales Promotion Techniques Targeted To Traders. 3 Demonstration. The products are often sold through retailers and wholesalers. Sales promotions are those activities, other than advertising and personal selling that stimulate market demand for products. Consumer-oriented Promotion Tools B. Trade-oriented Sales Promotion. The flexibility of sales promotion has the potential of being used by small and large companies, selling goods or services, and by profit and non­profit organisations. Disclaimer Copyright, Share Your Knowledge A free sample stimulates consumer trial, while a free management advisory service cements a long-term relationship with a retailer. This is an example of a very clever sales promotion of a product, which is considered a commodity. Trade promotion 2. Exchange Schemes. 24.4 Tools of Sales Promotion To increase the sale of any product manufactures or producers adopt different measures like sample, gift, bonus, and many more. This appears to build brand loyalty rather than diminish it. Coupons are distributed with purchase of a product, magazines, newspapers, etc. Coupons may be issued by the manufacturers either directly by mail through sales-force or through the dealers. 3. For example, giving a rebate by a car manufacturer to the tune of 12,000/- for a limited period of time. The tools of sales promotion are applied to boost sagging sales by attracting the customers and offerings of distinct incentives of purchase. The techniques of promotion used are-free samples, contests, coupons, demonstrations, price reductions, counter- display cards, etc. Frequent use of sales promotion activities may lead consumers to think that the product is of inferior quality. However, the technique proved to be extremely effective in retaining the customers and motivating them to continue using the same brand for an extended period of time. For example, Mug free with Bournvita, Toothbrush free with Toothpaste, DVD free with TV, Vacuum cleaner free Fridge, etc. Incentive to Salesmen e.g., some prize of salesmen achieve their predetermined targets. Free samples are distributed among the prospects to arouse interest. Such offers are very common these days in case of electric irons, TVs, refrigerators, scooters, gas stoves, washing machines, etc. In today data-driven world and crazy competition business environment, you need constantly searching and updating your market knowledge. 7. Terms of Service 7. The promotion planning shows how effective the sweepstakes can be in increasing the sales, and block competition. i. If advertising is related to “buy our product” then sales promotion is the representation of “buy the product now”. These incentives are essentially temporary and non-recurring in nature. Trade Sales Promotion Techniques-stimulate wholesalers and retailers to carry products and to market them aggressively. Sales promotions motivate the salesmen to sell more and to sell the full line of products. offer easy financing schemes even at 0% rate of interest e.g., “Pay Rs. For example – a silver tray to display a product. 7. Free samples are developed for introducing new products. Comparatively, coupons seem not to be so popular with young, less educated, unmarried individuals. 5. When the product is good but the brand share is low, a refund seems to work very well. A coupon is a certificate that offers a price reduction for some specified items to the holder. The first example presents the use of ‘chance’ in case of a consumer non-durable, which is a low-involvement category product and there is hardly anything like brand loyalty. Grocery stores owners informed the consumers regarding the possibility of prizes that consumers can win with continued use of the brand. Sales promotion is different from personal selling which is persuasion of customers by the sales persons to buy certain products. We'll cover promotions to increase sales, to encourage repeat business, and to boost brand awareness. Sales get consumers excited and bring them in the door, during times when they may not have even considered shopping or coming into your office. Periodical training programmes are conducted by dealers and distributors for salesmen to give them a better knowledge of a product and its usage. Competitions or Contests. Trading or Bonus stamps are issued by retailers to customers who buy goods from there. Fifth step is concerned with primary decision relating to timing and duration of the schemes to be offered locating, selection of dealers and convictions of the trade and sales force about the suitability of the scheme. For examples, Big Bazaar issues coupons for selected items in their weekly flyers that are distributed via mail or along with newspapers. Regular market price of full invoice amount can go to the combination of these promotions appear in or! Different from personal selling efforts free samples are small and packaged portion of manufacturer. Their purpose is not to be achieved cost effectiveness and turnover of promotion are simple. 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