Retailers may stock large quantities at the discounted price during the promotions in the anticipation of the sale and the opportunity to take advantage of the sale. In this example, Coca-Cola increases sales by putting a code inside the packaging for consumers to redeem online.
Price deals are probably the most commonly used promotional techniques. A price deal for a customer means a reduction in the price of the promoted product and the consumer saves money on purchase.
Colgate fresh energy ice blue gel Colgate India 50 gm pack, Rs. Price discounts are communicated through POP advertising, window displays, sales people, advertising in newspapers, magazines and TV ads. Such promotions work very well in gaining the attention of consumers, particularly at the point of purchase among similar brands and may also encourage unplanned or impulse buying.
Price pack deals Price pack deals are also called value packs. They can take any of the two forms: Bonus pack and 2.
In case of a bonus pack, an additional quantity of the same product is offered free when the standard pack size of the product is purchased at the regular price. This technique is often used to introduce a new large size of the product or to encourage continued usage and also to increase consumption.
Fairglow soap — buy 3 get 1 free, The main advantage of this tool is that extra product may encourage increased usage and help sustain the habit.
Also among other similar brands, a bonus pack stands out at the point of sale. Refund is the repayment of total money paid for purchase, while the rebate represents repayment of only part of the money paid for the purchase.
Refund offers seems to work very well in guaranteeing the trial of a product or service since there is no risk involved for the customer because of the promise of total refund of the purchase amount.
Refunds and Rebates play an important role in the consumer durable segment because the product price is reduced to a great extent because of the rebate offer.
After having launched it new product Whisper Ultra Thin, confident about the product quality and confident about offering the promised product, to increase its trail and usage, had started the money back offer.
A coupon entitles a buyer to a designated reduction in price for a product or service. Coupons are the oldest and most widely used form of sales promotions. Coupons bear an expiry date and cannot be redeemed after the cut off date.
The main Advantages of coupons are: Encourage brand switching 2. Stimulate trial for a product 3. Take off the attention from price Fair and Lovely dark circle removal cream to create more product trials has coupons in the newspapers and magazines which avail you of Rs.
Contests and sweepstakes can draw attention to a brand like no other sales promotions technique. A contest has consumers compete for prizes based on skill or ability. Winners in a contest are determined by a panel of judges or based on which contestant comes closest to a predetermined criterion for the contest.
Contests were very often used earlier where people has to write slogans, poems, stories etc. But off lately, contests are becoming less and sweepstakes increasing.
People are more willing to play on luck rather than participate by showing their abilities. A sweepstake is a promotion in which winners are determined purely by chance.The next two sales promotion techniques are focused on the consumers.
These two are price-based consumer sales promotion and attention-getting consumer sales promotion. Price-based consumer sales promotions can come in many forms such as: coupons, rebates, price . Online sales promotions are meant to turn site visitors into consumers.
The objective is to get the visitor to take action by contacting a sales representative and ultimately buying the offered product.
Once you better understand the power of these promotions, you can integrate them into your sales strategy to spur more revenue.
So, the next time you're stuck on how you can increase sales, get new customers, or retain existing ones, you'll have no trouble turning to the perfect promotion strategy for your goal. Sampling is a sales promotion technique designed to provide a consumer with an opportunity to use a brand on a trial basis with little or no risk.
Saying that sampling is a popular technique is an understatement. First, consumers have accepted sales promotion as part of buying-decision criteria. Primarily, sales promotion offers consumers the opportunity to get more than they thought possible.
Product sampling, for example, allows consumers to try the product without buying it. 2) Describe the process of developing an advertising campaign and how marketers evaluate advertising 3) Explain the role of public relations and the steps in developing a public relations campaign 4) Explain what sales promotion is, and describe the different types of consumer sales promotion activities.