Sales Promotion
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| Define sales promotion. | Promotional tools designed to stimulate earlier and/or stronger market response. They include tools for consumer promotion (ex. samples, coupons, money-refund offers, prices-off, premiums, contests, trading samples, demonstrations). | |
| 9 Consumer Sales Promotion Tools | 1)coupons 2)demonstrations 3)frequent user incentives 4)point-of-purchase displays 5)free samples 6)money refunds 7)premiums 8)cents-off offers 9)consumer contests | |
| What are coupons? What are the advantages of coupons? | Coupons are certificates entitling the carrier to a stated savings. The advantages of coupons are that they 1)reward present users 2)win back former users 3)encourage purchases in larger quantities. | |
| What are demonstrations? | Demonstrations show how the product works. | |
| What are frequent user incentives? Give an example. | Incentive programs to reward individual consumers who engage in repeat purchases. Examples: frequent flyer miles, rewards cards. | |
| What are point-of-purchase displays? | Signs, window displays, counterpieces, computerized interactive displays, and display racks that are used to attract customers. | |
| What is the most expensive consumer sales promotion tool? What 2 costs make it expensive? | Free samples. Because of 1)production costs and 2)distribution costs. | |
| What are money refunds? | A sales promotion tool that allows customers to submit proof of purchase and then mails them money. This is an industry favorite because many customers do not actually follow through with submitting the proof of purchase. | |
| What is a premium? | An item offered free or at a minimal cost as a bonus for purchasing a product. Ex. buy one, get one free...also larger packages of a product that say X% more free. | |
| What are cents-off offers? | Buyers receive a certain amount off the regular price shown on the label. | |
| What are consumer contests? | They provide consumers with the chance to win something as a result of luck. |
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