This would help to load-up the consumer. A visit to your nearby supermarket will reveal numerous sales promotion schemes of various products, simultaneously vying for our attention. It includes every relationship which established among the people. Coupons can be considered as certificates offered by retailers or manufacturers that entitle the owner to some stated savings or claim the specified thing. When consumers increase purchase quantity, they carry more stocks of the product and stay out of markets. Refund offer is limited only by the imagination of the promotion planner and the budget allocation. 4. Report a Violation 11. These two examples present the use of the same method of sales promotion. The prizes seem to be much larger to contestants than the money spent by the sponsor. These promotions can be developed for durable as well as non-durable goods. This method may be used in products like washing machine. It helps marketers to realize a variety of objectives. Rebate is a partial refund to someone who has paid more or extra on purchase of a specified quantity or value of goods within a specified period. Such discounts may appear in newspapers, magazines, and television advertisements. Price Reductions on some specific occasions e.g., 20% to 30% discount on all products of Gandhi Ashram on Gandhi Jayanti. A lottery prize is decided on the basis of chance and requires a “consideration” for entry that may be proof-of-purchase of ticket or a product. Samples help consumers verify the quality of the product. A quick response is generated by using this promotion tool for sales promotion. Proper planning is essential for the success of promotion plan as it involve high investment on promotion products and execution of promotion activities. 2640, and the customer may buy the higher end model. A coupon is a certificate that offers a price reduction for some specified items to the holder. The prizes were around 8000, the top prize being rupees ten million. The retailer takes decisions concerning the target customer, services, ambience within outlet, and the decisions concerning price, place and promotion. Promotion for industrial customers – These promotions are used for such purposes as generating business leads, stimulating purchase, rewarding customers, and motivating sales people. The objectives of both sales promotion and advertising are similar and they complement each other. It gives expected result. 55.50 off on Gillette Sensor excel. Sales promotional devices are the only promotional devices available at the point-of-purchase. While some of the techniques of sales promotion do in fact advertise a product or … 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. To attract new customers distribute free sachets to households. 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. A promotion of offering refund or rebate by a marketer is a promise to give back a certain amount of money after the purchase. The combination of these tools with a view to maintain and create sales is known as promotion mix. Sixth step cover the development and evolution criteria in relation to sales to be achieved cost effectiveness and turnover of promotion. Such a deal is designed to stimulate customers to try a new product, to encourage new users to try an existing product, or to encourage customers to continue product patronage, increase purchase quantity, purchase multiple units, and accelerate usage rate, etc., such deals are suitable when the brand loyalty is low, product category is considered a commodity, and price is the primary consideration by the customers. Depending on the objectives, refund offers are used to encourage trial of a new product, purchase of increased quantity, or increasing the frequency of purchase, or to encourage the customers to purchase those products whose purchases can be postponed, such as refrigerators, microwave ovens, air-conditioners, and other consumer durable products. Promotion mix is the name given to the combination of techniques used in communicating with customers. There can be more than one community in a society. They add to the overall effectiveness of the firm’s promotional activities. Premium offers provide a point of difference, more so when the product category is fairly crowded. Price deals are probably the most commonly used promotional techniques. 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 are more than one type of tools used to promote sales. Sales promotion directed at the consumer offers a reason for trying the new offering. 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. Retailer-originated coupons are redeemable only at a particular store or a group of stores (for example, a chain store having many outlets). In case the coupons happen to be related to some current fashion or fad, then younger, middle-income individuals are likely to be attracted. 55.50. Company offers either a discount on the normal selling price of the product or more of the product at the same price. 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. x. From company’s point of view, shelf space is so important that if it is provided by the wholesaler or retailer to a particular product or company the consumer will buy it. Their interest is not tied up with any brand or manufacturer, unless there has been an agreement with the marketer of some co-operative venture. These are part of Interest promotions because such sales promotions create not only interest but also produce excitement and enthusiasm in consumers. Rapid growth: A decade ago, ad-to-sales promotion ratio was about 40:60, now is like 25:75 & growing. Let us know more about some of the commonly used tools of sales promotion. Coupons may be issued by the manufacturers either directly by mail through sales-force or through the dealers. Such an offer acts as an incentive to stimulate short-term profit of the retailer and promote new products for the company. Promotion can be launched directed at consumer or trade. Additional quantity of the same product or additional unit of the product is appreciated as a reward by the consumer. The sales promotion schemes are carried out during particular seasons and not on a permanent basis; the results achieved through them are generally short-lived. 4 Free trials. Coupon books are sent out in newspapers, or offered with the purchase of an item in a given time frame. Full Finance @ 0% 10. This is due to managers need to increase sales (inte… Premium on sales helps the salesman to make effective presentation, stimulate sale in a particular area, lead to enlistment of new customers and have the way for introducing new brands in the market. Sales promotion methods include displays, demonstrations, expositions, exhibitions and other non-recurrent selling efforts that aim at impelling spot buying action by prospective customers. Trade Promotion Techniques include the following: Off-Invoice Allowances,Buying allowance,Display and advertising allowance,Buy back allowance ,Bill back allowance,Slotting allowance,Merchandise allowance Several types of coupons are in use viz., (a) Coupon with a rub-off spot, (b) Instant coupons, easily detachable to buy immediate package, and (c) Special Price Coupons. It refers to exchange of old product for a new product at a price less than the original price of the product. Point Of Purchase Displays – This includes providing free point of purchase (POP) display units to the retailers to increase their sales. 4. In the demonstration method, the technical experts or sale demonstrators are sent to various customers to induce them to buy the product. Free Gifts to Dealers/Distribution; such gifts increase with increase in quantity of purchases. In this sales promotion technique, an additional amount of the product is offered without any additional cost, as an incentive to purchase a minimum quantity. Incentive to Salesmen e.g., some prize of salesmen achieve their predetermined targets. All these sales promotion schemes work on the principle that few people can resist a free gift, price reduction or special offer. By announcing a price discount on some popular consumer item, the retailer’s intention is to increase store-traffic. They may not, therefore, prefer to buy such products. To overcome the seasonal fluctuation of products. But it does not include advertisement, publicity and personal selling. Sales Promotion Tools and Techniques – 12 Commonly Used Tools: Coupons, Free Samples, Price-Off Offer, Fairs, Exhibition, Free Gifts, Competitions and a Few Others. 3. 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. If the premium is particularly attractive, there would be a number of consumers who would want the premium in a hurry and make the required number of purchases. For example- milkshake along with Nescafe, toothbrush along with a toothpaste. Before publishing your Articles on this site, please read the following pages: 1. Sales promotion includes techniques like free samples, premium on sale, sales and dealer incentives, contests, fairs and exhibitions, public relations activities, etc. Trade promotion is not advertised and publicised it is for the channel members, company’s offers are for dealer, distributors, retailers and agents only main purpose is to increase sales by offering incentives to them. Consumer incentives could be samples, coupons, free trial and demonstration. Manufacturers devise the strategy such that the customer qualifies for a refund only when he makes multiple purchases. These are temporary price reductions, which appeal to bargain instinct. For instance, in case the manufacturer plans to distribute free samples of a product, it can cost far more than the total money spent by the manufacturer for the prizes. Disadvantages of Sales Promotion. Another factor that may contribute to brand switching is the attractiveness and value of the premium as perceived by the consumers. Using sales promotions maturity stage of the product can be prolonged and the firm can generate more and more revenues. Especially when the concept is new, most people are hesitant to take risks. Unlike, price cut off or discounts, rebates are provided after the full payment of full invoice amount. Coupons originating from the manufacturers are redeemable at any retail shop that carries the promoted product. There is no precise answer, however, experts generally agree that discount should be at least 5% to 20% of the normal price. It means offering product at lower than its normal price. For example, if the price of a more expensive wristwatch is Rs. Similar discounts are often advertised by retailers in local media (called feature advertising) and by manufactures in national print and audio-visual media. Trade promotion 2. To get you started with this worthwhile strategy, here are 15 sales promotion ideas, accompanied by real examples, and categorized by the business goals they can help you achieve. Consumer-oriented Promotion Tools B. Trade-oriented Sales Promotion. Free Services 8. These must be of small size but adequate quantity. For examples, Big Bazaar issues coupons for selected items in their weekly flyers that are distributed via mail or along with newspapers. Despite its recent widespread use as an important element of marketing campaigns, the essence of sales promotion … Sales promotion is one of the best tools to attract new customers and retain old ones, including marketing activities by adding more value to the … Middlemen are usually required to show the proof of the advertisement carried out by them. Producers/retailers may promise free service to consumers for a specified period of time after sales. Every imaginable prize or reward is used to excite and attract customers to participate. This means a refund is repayment of total money paid for purchase, while the rebate represents repayment of only of part of the money paid for purchase. xv. 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. Here the focus is more on the wholesalers and retailers as compared to the consumers, i.e. Making consumers to switch brands in favour of firm. In case of consumer durable products, Bajaj Auto announced a promotion to encourage the purchase of any Bajaj Scooter. Tools and Programmes 9. Search. 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. These are also offered to retailers to popularise the product and brand name of the manufacturer. Anyone who is an entrepreneur needs to know that they must use advertising and promotions to be successful. Too much dependence on sales promotion techniques gives the impression in the mind of customers that perhaps the product falls short of quality and is not saleable. Meetings and Seminars by Producers of all dealers/ distributors where all problems of middlemen are discussed and solutions given. A variation of this offer, and more commonly observed, is when the marketer develops special packs of the product containing more quantity, but the price is proportionately low. Much depends on the ingenuity of promotion planner. Yet another reason can be that when retailer feels threatened, then the only way to respond to competitive situation is to offer a price discount to consumers to move the product off the shelves. Pack premiums on packs, as bonus packs. 100,000 each, seven hundred prizes of Sansui music systems, seven thousand prizes of Kodak cameras, and many Timex watches. Such offers are very common these days in case of electric irons, TVs, refrigerators, scooters, gas stoves, washing machines, etc. Customer will buy those products or services that are highly advertised, mostly seen etc. In these contests, participants compete for prizes on the basis of their skill or creative ideas. It is a certificate that reduces the price. A customer was required to buy a pack of & 7 O’clock P II for Rs. Premiums are generally given in the case of customer convenience goods such as packed tea leaves, blades, tooth-pastes and toilet soaps. It attracts non users and act as an effective tool to counter competition. A firm may use the strategy of refunding a part of the price paid by the customer on the production of some proof of purchase of its product. Couponing is in effect controlled price reduction. Sales Promotion Techniques Targeted To Traders. Free door-to-door samples – This technique however is costly. This may take any of the two forms, bonus pack and banded pack. LIST OF TOOLS• Free samples: These are distributed to attract consumers to try out a new product and thereby create new customers. A firm can also use data revealing how its product compares with the other products. Sale promotion techniques are indirect and non-personal. Sales promotion acts as a bridge between advertising and personal selling. Special Commission on achieve pre-determined sales targets, Higher rate for Higher sales. xiii. 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. Fourth step is to ensure the legal validity of the sales promotions schemes to be offered for customers and traders. Under this method, the product is sold and money is received on installment basis at 0% or without interest rate. Money Back Guarantee – Producers guarantee that if their product does not meet certain standards, consumers can return the product and get their money back. The intention is to increase sales, make a large customer base, encourage trial, encourage repeat purchases to stimulate consumers' purchase. This technique induces customer to buy their requirements from the retailers who offer such stamps. Most of these products are typically used by individuals or households and are generally sold by retails stores. Sales promotion essentials : the 10 basic sales promotion techniques-- and how to use them. Point of Purchase Displays (POP Display): Here, the display material of a product or brand is placed close to the point of sale inside retail stores. For example – a silver tray to display a product. Buying allowance is a temporary price reduction offered to the retailer for purchasing specific quantity/units of the product. 6. Free samples are given to consumers to generate their interest in the product. As soon as the incentives offered under such schemes are withdrawn, the benefit in terms of increased sales may also vanish. Price deals (price-off, price-cut, cents-off, denote the same thing), iii. Components 4. These encourage the customers to use the product or service and make them brand loyal. The same agency says. Privacy Policy 9. Customer sales promotion is a “pull strategy” and encourages the customers to make a purchase. Experience shows that everyone concerned, consumers, trades people, and sales force, get a share of excitement when the contest or sweepstakes is well planned and executed. Determining the quantum of discount depends on the consumers’ price perceptions and may be difficult to decide. It gives a temporary discount to the consumers. Such contests are held through radio, T.V., newspapers, magazines, etc. It refers to giving a free gift on purchase of a 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. 350 on sending one- year subscription, which the customer can use to purchase special issues of the magazine. TOS4. Repeat purchases may be stimulated by frequent user incentives. These activities might include extra cash or trade discount on the basis of orders placed. Several firms use container premium to push the sale of their products. It also tells them how the concerned products will be helpful in satisfying their specific demands. Sales promotion has two components consumer promotion and trade promotion : Consumer promotion is for the common customer, this promotion is supported by advertisements, publicity, direct selling etc. In most cases a combination of two or more techniques will combine the strengths and compensate for the weaknesses and will produce better results compared to either technique used alone. In this method of sales promotion, customers take part in small competitions on the basis of their creative and analytical skills. To make the contest or sweepstakes more tempting, there may be more than one winner of first prize (such as 10 first prizes for ten lucky winners). Samples are delivered at the doors of consumers. The refund offer may sway the decision in favour of the promoted product. 5 Free training. Under this, the seller offers premium to the buyer by way of supplying a gift along with the product or inside the product package. Manufacturers often offer extra incentives to retailers to gain their co­operation. 62 only. Samples given while purchasing a product in a retail store. 300,000 or more, or jewellery of the same value, then a number of prizes in the immediate value range, a large number of prizes of small value, and a larger number of consolation prizes. 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. Free samples are distributed among the prospects to arouse interest. 8. Essays, Research Papers and Articles on Business Management, Sales Promotion: Meaning, Merits, Limitations and Methods, Sales Promotion: Concept, Objectives, Types, Tools, Techniques, Advantages and Disadvantages, Essay on Sales Promotion: Top 4 Essays | Functions | Marketing Management, Advantages and Disadvantages of Franchising. For example, if a customer buys toothpaste, he gets a toothbrush free. Huge Collection of Essays, Research Papers and Articles on Business Management shared by visitors and users like you. This is an example of a very clever sales promotion of a product, which is considered a commodity. The first part involves a contest in terms of skill, or knowledge. Seventh step relates to monitoring the offer, collection of the relevant data and for the future use as well as mid period corrections in promotion methods. 3. Same techniques, which are used for consumer promotions are also used to promote products to business users, such as stationary, computer systems and consumables, machinery, automobiles, and many other 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. materials may be Diaries, calendars, Literature, Sign Boards, Packing Bags, Posters, etc. In case of consumers sales promotion programme, an attempt is made to reach the consumer at his home or at a retail store. The tools of sales promotion are applied to boost sagging sales by attracting the customers and offerings of distinct incentives of purchase. Price packs (cents-off deals) – Offers consumers saving off the regular price of the product, directly cuts price on the label, or combination of two products (tooth paste and tooth brush). CODES (3 days ago) trade sales promotion examples - My Best Coupon Codes (6 days ago) (2 days ago) In a nutshell, trade promotion is a marketing tactic aimed at retailers by manufacturers, with the goal of increasing the demand for their products. As the distribution of samples is very costly, this system is confined to those products of small value which have often repeated sales. For example, Mug free with Bournvita, Toothbrush free with Toothpaste, DVD free with TV, Vacuum cleaner free Fridge, etc. 2 Advertising and promotional novelties. Sales promotion is a type of Pull marketing technique. These incentives are essentially temporary and non-recurring in nature. These are all different approaches to offer immediate reward to the consumer at the time of purchase. The two types of sales promotion tools consumer are as follows: A. In case of money refund, the customer receives a specific amount of money (refund) after he submits a proof of purchase to the manufacturer. Sales promotions motivate the salesmen to sell more and to sell the full line of products. 2400. Inducing retailers to promote the brand by local advertising and POP display. 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. It is also different from advertising. At the same time, competitiveness among retailers is booming. In-mail premiums do not provide an immediate reward at the time of purchase. Consumer Promo­tion Methods are those which directly encourage consumers to buy product in more and more quantity. Free Samples 3. Share Your PDF File Such premiums are attached either to the product, enclosed with the product, or otherwise available with the product when the consumer buys the product. The consumers are expected to be convinced to use the product. Marketers can offer an article of merchandise as an incentive in order to sell product or service these are known as premiums, as the customer gets something in addition to the main purchase. 6. In some cases, this type of sales promotional programme becomes necessary in view of seasonal decline in sales. It will be useful in determination of sales quota and sales targets for middlemen. Such slogan centres around the questions as to the liking of a customer for the product, or formulation of new advertising idea for the product. Discussion in the tutorial on sales promotion looks at how contests, sweepstakes and games can be effective short-term consumer promotion. This is a fairly popular technique in cases of footwear, shirts, jeans, towels, and many other varieties of products. Retailers may announces price discounts for a variety of reasons. 5. Main Menu. Sales promotion techniques help in increasing the life span of the product during different stages of the product life cycle. Consumers have to take some action to claim the premium, such as sending the proof of a single or multiple purchases and wait for some period of time for the delivery of the premium through mail or courier. It is possible that a customer using a particular brand, may buy another because the other brand is promoted in an effective manner. There is plenty of variety, flexibility, and motivation to action. 3 Demonstration. by offering better customer service (take back goods, if not satisfied, free home delivery, order-on-phone, credit facilities, etc.) The premium may be free or available to the consumer by paying a price well below the regular market price. Major Sales Promotion Tools Used By NestléBangladesh Ltd. Nestlé Bangladesh Ltd use two types of sales promotion: 1. 4,000 Waive on the New Cng Scooter. These tools increase sales, introduce a new product to the market or meet competition challenges. programme. 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