According to L.K. a free sport bottle with the purchase of a four-pack of Gatorade. Demographic grouping is based on measurable statistics, such as: 1. Sales promotion is usually targeted toward either of two distinctly different markets. Healthcare marketers consider internal stakeholders in their marketing efforts by staying in tune to what is going on in the organization and listening to the needs of the internal stakeholders. Companies such as Procter & Gamble use _____ to reduce fluctuations in the retail prices of their brands. How to Stand Out As a Leader in a Saturated Online Market, Here's the No. Noise. Sales promotions attract new customers, reward dedicated customers and persuade occasional customers to buy. Marketers can target sales promotion efforts to: When a marketer distributes coupons for a brand with a specific expiration date, they are attempting to use sales promotion as a(n): Coupons, bonus packs, premiums and samples are promotional offers that are targeted toward: Consumer-oriented sales promotions are part of a promotional ______ strategy. At this point, more information about the person and company can be leveraged to make the offer more targeted and relevant. Sales promotions include all of the following EXCEPT: Internet banner ads _____ is any interference in the IMC process. 1 Thing Brands Can Do to Avoid Public Outrage and Cancel Culture, The 2 Types of Authority All Businesses Need for Marketing Success, 3 Ways to Succeed in Marketing in the Modern Era. Target your effortPromotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current customers to buy differently, and stimulate business during slow periods. Sales promotions are a campaign that uses time-sensitive offers — sales, discounts, coupons, etc., to engage existing consumers and bring in a larger audience. Find out the 7 reasons why social media marketing is important for your business!Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. Which of the following developments have resulted in a transfer of power from manufacturers to retailers? To celebrate this month, the manufacturer of Aleve pain reliever sponsored fundraiser walks to raise money to find a cure for arthritis. Promotional activities designed to accelerate the purchase process and generate an immediate increase in sales without communicating information about a brand's unique features or benefits are known as: Which of the following would be NOT an example of a nonfranchise-building promotion? Effective blending of promotion efforts is achieved through integrated marketing communications, so that the firm can send a consistent and complete message. Johnson, “Sales promotion consists of all those activities whose purpose is to supplement, to coordinate and to make sure more effective the efforts of the sales force, of the advertising department, and of the distributors and to increase sales and otherwise stimulate consumers to take greater initiative in buying.” We’ll feature a different book each week and share exclusive deals you won’t find anywhere else. Marketing manager: must determine the blend of promotional activities and coordinate them. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith. Which of the following couponing methods allows companies to reach users of competitive brands rather than consumers who already use their brand? Coupons always make a comeback in penny-pincher markets, which means they're hugely popular these days. Why are organizations like KFC, Heinz Foods, Toys R Us, and Anheuser Busch placing more emphasis on sales promotions than ever before? Which of the following sales promotion techniques is impacted negatively by the presence of professionals or hobbyists who take advantage of the promotion without making a purchase? According to the ad, enjoying Puerto Rico hospitality is "As Easy As Saying I Do." 55. Proponents of brand equity argue increased spending on sales promotion is coming at the expense of media advertising, and this is leading to declines in brand equity. It is a part of marketing communication which reaches your target market to gain awareness and foster conversation with prospects and customers. Sales promotion is a type of Pull marketing technique. Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. A sales promotion is any undertaking by an organization designed to increase sales or encourage the use or trial of a product or service. Do you want lapsed customers to give your business another try? Know what you want to achievePromotions work especially well when consumers are in need of a jolt to take buying action. Do you want customers to purchase more frequently, buy in greater volume, or be attracted to new or different offerings? Consumer product companies launch approximately 20,000 new products each year. Electronically dispensed checkout coupons: are accurately described by all of the above, generate impulse buying and product trial. Most of the sales promotional dollars are spent on consumer-oriented promotions. Which of the following statements about the proliferation of new products in the consumer marketplace is true? If so, continue to the next step. They’ve already engaged with content, progressed through your sales process thanks to the efforts of your sales team, and expressed interest in a product. According to Joncos (1990) sales promotion is an effective way of competitive retaliation rather than marketing activities. All of the above statements about on-package sampling are true. You can use various techniques like giving discounts on the product, offering 1 + 1 free schemes, etc etc. Marketers communicate with their audience in order to inform, educate and persuade them to purchase their product or service. Regardless of what your company sells or does, it’s important to learn about who your consumer is so you can effectively target them with your promotion strategy. _____ is generally considered the most effective method for generating trial of a new product. Plan your incentiveA well-thought-out, properly targeted promotion prompts customers to take action by offering one of these incentives: As you decide on your incentive, keep these facts in mind: Price offers must be strong enough to compel, but reasonable enough to keep your business out of red ink. This is an example of a: provide marketers with a way to provide extra value to consumers without having them do anything other than purchase the product. But the strategy involves greater product design, production, promotion, inventory, marketing research and management costs. So basically, these are different tools with purpose of encouraging consumers, dealers as well as the company’s sales force. Race 7. Companies in the ____ industry have begun replacing brand-specific coupons with universal coupons that can be redeemed for any of their brands. Affixed to the front of a bag of Aunt Jemima corn meal was a(n) _____ coupon that could be torn off (without damaging the bag) and redeemed at the time of the purchase. Promotional strategies play a vital role in the marketing mix (product, price, placement, and promotion), and they revolve around: Radio 1. because they are convinced sales promotions can be used to build brand equity more effectively and more quickly than other promotional mix elements. ______ is defined as a direct inducement that offers an extra value or incentive for the product to the sales force, distributors, or to ultimate consumer with the primary objective of creating an immediate sale. What do many businesspeople give as a reason for the increasingly short-term focus on performance and sales volume in business today? The use of premiums is very popular among fast food restaurants as a way of attracting children. This is an example of: Payments offered by manufacturers to resellers for merchandising products or running special in-store programs are called: Money that must be paid to a retailer so it will take on a company's new product is known as: Some retailers have demanded payment for new products that do not reach a minimum sales target. In 2017, The New York Times described it as "the art of telling stories so enthralling that people lose track of their wallets. Avoid uninspiring 10 to 20 percent discounts, but also avoid very deep discounts unless they promote a loss leader to generate other higher-margin sales, or unless they'll attract valuable new customers into your business. A discount or deal offered to a retailer or wholesaler to encourage them to stock, promote or display a manufacturer's product is known as: Ocean Spray offers its retail accounts a $3.00 per case discount for all of the cranberry juice they purchase during the month of May. Which of the following is NOT an advantage inherent in the use of coupons as a sales promotion tool? Loyalty Incentives PUBLIC RELATIONS – How to use the media 1. Which of the following statements describes a limitation associated with using coupons as sales promotional tools? The individual promotion specialists can then focus on the details of implementation. Sales promotion has a capability to complement and supplement the advertising functions of the marketing. For example, five-minute shoulder massages or one-hour home decorating consultations. Today, more than ever, marketers are relying on digital platforms to sell their products. Marketers who are being held accountable for strategy implementation often need concrete methods to show the effectiveness of their decision-making. News/Media Releases PERSONAL SELLING 1. How has the view of sales promotions changed during the past decades? A _____ is a configuration of products that occupy a shelf section in a store offered to resellers by manufacturers. Inefficiently run sales promotions can result in: a disclaimer used with contests and sweepstakes to protect the sponsoring company. Through a proper training and guide, a salesman can be a valuable medium between the marketer and the prospective customer. When she has purchased five books at regular price, she is sent a coupon for a free book to be picked out on her next visit to the store. Consumer sales promotion is targeted to the ultimate consumer market. The building or reinforcement of consumer-franchise or equity for a brand: can be done with carefully planned sales promotion programs. Nordica provides sales personnel in ski shops with training classes, detailed manuals, and other tools to help them better understand how to sell the company's ski boots. This is an example of: can be accomplished through consumer promotions that reinforce established brand images or positioning. Sales promotions are marketing events or sales efforts—not including traditional advertising, personal selling, and public relations—that stimulate buying. Intel and the PC manufacturers are using: When advertising and sales promotion efforts work well together and create sales results greater than those achievable from either element being used alone, they are producing a _____ effect. This is an example of: Heinz Foods created a Cinco de Maio celebration for a large supermarket that targets Mexican-Americans, a market that Heinz sees as an area of potential growth. When hosting an event, make sure to go all out. PR Events 1. _____ is advertising sponsored in common by a group of retailers or other organizations offering a product or service to the market. Trade sales promotion is directed to members of … Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Printed coupons are still the most widely circulated, but printable coupons, distributed on web sites and via e-mail, provide a terrific way to test price offers with business friends and fans before incurring costs to promote the offer more widely via other media. Set the number of sales you want to ring up, dollars you want to bring in, customer names you want to collect, buying patterns you want to change, or any other objective you want your promotion to achieve. While evaluating different methods of promotion in marketing, one should realize these strategies are not set formulas or recipes for the successful launch and eventually high sales of the product. Which of the following would be the best example of a premium offer that contributes to consumer-franchise building efforts for a brand? Many sales promotion programs are designed to motivate distributors and retailers to carry a product and push it to their customers. Religion Demographic segmentation is usually the most important criterion for identifying target markets, which means that knowledge of demographic information is crucial for many businesses. Education 6. With that goal in mind, there are several different promotional vehicles marketers can leverage to ensure their message gets across to the consumer, one way or another. Service businesses would do well to give away mini versions of their offerings. Samples would be an appropriate promotional strategy to: introduce a new flavor of sport drink to the marketplace. It is the most sought after target market strategy because it has the potential to generate sales volume, higher profits, larger market share and economies of scale in manufacturing and marketing. All of the above statements about the proliferation of new products in the consumer marketplace are true. Sales promotion tools could be used to increase sales of an established brand by: Which of the following describes a sales promotion that can be used by a marketer to defend its current customer base? Which of the following statements does NOT describe an aspect or characteristic of sales promotion? The marketing managers are forced to select certain promotion mix tools (advertising, sales promotion, publicity, personal selling, and direct marketing)depending on large number of factors. And that's precisely why it's important--and always will be--to lure potential buyers with promotions. Kellogg's promoted a Bart Simpson watch to consumers who mailed in $2.95 and 3 UPCs from boxes of Kellogg's cereal. Which of the following is a viable objective for a trade-oriented sales promotion? Which of the following sales promotion tools should work best for Post? Trade sales promotion is directed to members of … Think of Costco on weekends. When reductions from the regular price of a product are offered at the point-of- purchase through specially marked packages, a marketer is using a: Super-Sav supermarket gives customers VIC (very important customer) cards, which allows customers to take advantage of additional discounts on certain products and notification of special, customer-only sales. Which of the following is an example of a nonfranchise building promotion? All of the above statements about the concerns over the relationship between brand equity and advertising and promotion are true. Plus, enjoy a FREE 1-year. Just be clear about what you want to achieve. The oldest, most widely used, and most effective sales promotion tool is the cents-off coupon. Which of the following statements about on-package sampling is true? Salesmen 1. This is an example of: _____ is an exhibition or forum where manufacturers can display their products to current and perspective buyers. Heinz paid for a mariachi band to serenade shoppers during the day and also set up a food-sampling booth at the store's entry. Referral Programs 1. They can be the start of a prosperous relationship with new customers. When Campbell Soup Company introduced its V8 Splash fruit medley juices, the company gave out free samples at Sam's Clubs and distributed millions of 50-cents-off coupons. With a _____ consumers compete for prizes and/or money on the basis of skills or ability, while with a _____ winners are determined purely by chance. _____ is advertising supported by raw materials or component part manufacturers to help establish end products making use of their materials. These points can be used to purchase cookware, dishes, and other similar hard goods. And if you are not applying this profitable source, you are missing out an incredible marketing opportunity, as it makes it easy to … Promotion helps you to draw the attention of your target, create interest in your products and services, generate demands, and encourage them to purchase from you. Among major packaged goods companies, the greatest percentage of the promotional budget is allocated to: Among major packaged goods companies, spending on _____ has remained relatively constant over the past decade. The Sales Promotion tools are directed towards Consumers (Consumer promotion tools), Dealers or middlemen (Trade promotion tools), and Sales force. Samples work in all lines of business to let customers try before buying. Online-based businesses need to promote free samples prominently in an effort to attract links, visitors, site registrations and publicity. Marital status 5. Sales promotion can be developed as part of the social media or e-commerce effort just as advertising can, but the methods and tactics are much different. Meanwhile, promotions for higher-end, more expensive products use sales promotions to convert consumers who typically make economical purchases. Events and experiences draw customers for celebrations, product launches, special appearances or presentations, and other activities that combine entertainment with brand and product presentations. Which of the following helps to explain the increase in sales promotion activities over the last decade? The contest is an example of: Tropicana developed a "Win the Perfect Vacation" sweepstakes to complement an advertising campaign theme promoting its grapefruit juice as the perfect beverage. Marketing managers of a product with diminishing interest will run a sales promotion to keep the product in circulation. In fact, coming up with attractive promotions has become a bigger deal than ever. A(n) _____ is an offer of an item of merchandise or service either free or at a reduced price that is used to provide an extra incentive to purchase. https://quizlet.com/284976713/imc-373-exam-3-chapter-16-flash-cards In other words, _____ is affecting sales promotion just as it has advertising. This is a set of short-term activities that are designed to encourage immediate purchase. 2. Which of the following statements about the use of premiums as a sales promotion tool is true? Entrepreneur Store scours the web for the newest software, gadgets & web services. It is one of the primary components of business management and commerce. These objectives are for both marketers and traders. Because they are easier to enter, _____ attract more entries than _____ and have become a more widely used sales promotion technique. Sales promotion is usually targeted toward either of two distinctly different markets. A promotion strategy is defined by the plan and tactics you implement in your marketing plan to increase your product or service demand. A good salesperson is the one who has thorough knowledge about the product he is about to sell and tries to strike a common point of link between the product and the customer needs. he oldest, most widely used, and most effective sales promotion tool is: _____ distributed the first coupon in 1895. allow a marketer to offer a price reduction to consumers who are price sensitive without having to reduce the price for everyone. People correctly think that promotion money gets spent primarily on advertising. A. Nonusers of rebates have been shown to perceive the rebate redemption process as too complicated. 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. These are then e-mailed to participants for use on their social networking pages. can be used to generate excitement and involvement with a popular and timely event. One organisation can rely on television advertising and the other can remain dependent on the efforts of its sales team. Discounts 1. _____ is a practice used by some retailers and wholesalers whereby they take advantage of a promotional deal and then sell some of the product purchased at the low price to another store outside of the reseller's trade area or to a middleman who will then resell the products. 60, then a coupon with a face value of Rs. Ingredient-sponsored cooperative advertising. Consider your unique selling points. _____ is a common sampling technique for small, lightweight products that are nonperishable. Which of the following statements about rebates is true? Offering too many freebies can signal to customers that they are not purchasing a prestigious or “limited” product. Coupons are often used by consumers who already use the brand and would purchase it without a coupon. Sales promotion is a $300 billion—and growing— industry. This is an example of a: Coors Light beer's heavy financial involvement with and support of freestyle skiing competitions, beach volleyball tournaments, and other sporting events are examples of: May is National Arthritis Month. Consolidation in the grocery industry has resulted in larger chains with greater buying power and clout. C. All the special sales promotions add up to less money than advertisements. Even young consumers and affluent shoppers--groups that traditionally shun coupons--are using them, boosting the typical 1 to 2 percent redemption rate by nearly 20 percent. Another name for account-specific marketing is: The toy company Hasbro teamed with the retailer Toys R Us to create direct mail booklets offering discounts on Hasbro toys good only at Toys R Us stores. 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