Term
| draw the importance of promotional mix graph |
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Definition
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Term
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Definition
| the act of influencing customer/consumer perception and behaviour to build market share and sales that reinforce brand image. it consists of incentive tools to stimulate quicker or greater purchases. sales promotion is usually a short term tool |
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Term
| what are the main tools of sales promotion? |
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Definition
1. samples
2. redeemable coupons
3. cash back offers
4. cents off deals or price packs
5. premium offers:
6. advertising specialties
7. patrongage rewards
8. point of purchase (POP) promotions
9. contest and games of chance and skill |
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Term
| what are point of purchase (POP) promotions |
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Definition
| POP promotions are in store promotions usually paid for by supplier |
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Term
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Definition
| patronage rewards are cash or merchandise for loyal customers (e.g. frequent flyer points) |
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Term
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Definition
| advertising specialties are giveaways with advertisers branding on them. (e.g. key rings, mugs, etc.) |
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Term
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Definition
| cash back offers are cash given as a reward for purchasing the product |
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Term
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Definition
| premium offers are goods offered free of charge or at a discount on top of purchase |
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Term
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Definition
| samples are free or discounted goods designed to get customers to try products |
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Term
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Definition
| redeemable coupons are coupons that can be redeemed by the customer for free or discounted goods |
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Term
| cents off deals or price packs |
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Definition
| cents off deals or price packs are temporary price discounts |
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Term
| what is the purpose of sales promotion? |
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Definition
sellers use sales promotions to:
attract new triers
to be reward brand-loyal customers and thereby retain them
to reduce the time between purchases
to turn light users into medium or heavy users
to regain past purchasers who have ceased buying |
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Term
| what groups do the new tiers of a product category fall into? |
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Definition
1. non users
2. loyal users of another brand
3. brand switchers |
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Term
| "sales promotions should promote the product's ______ and include a ____ ____ along with the deal." |
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Definition
| sales promotions should promote the product's positioning and include a selling message along with the deal. |
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Term
| what are the 6 objectives of sales promotions? |
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Definition
1. trial purchase
2. stimulate repeat purchase
3. stimulate larger purchase
4. lure consumers away from competitor's products/brands
5. get consumers to load up on a mature or unwanted products
6. hold and reward loyal customers |
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Term
| what must the marketer decide when developing a sales promotion program? |
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Definition
which product to promote
size of the incentive
conditions for participation
how to evaluate the promotions program through surveys and/or experiments that vary factors such as incentive value and distribution method |
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Term
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Definition
| personal selling is when salespeople are involved in two way personal communication with customers. |
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Term
| what are the objectives of personal selling? |
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Definition
| the objectives of personal selling are to build long term relationships with customers and to explain the benefits of a product in more detail than other forms of promotion |
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Term
| what is the role of the sales force? |
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Definition
| the sales force is a critical link between the company and the customer that finds and develops new customers and communicates information to those customers about the company's offerings. |
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Term
| what are the advantages of independent sales reps? |
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Definition
improved cash flow
provide predictable sales expenses
can proved greater territory coverage
can penetrate new markets faster |
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Term
| what are the advantages of company sales reps? |
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Definition
sell only company product
greater attachment to the company
greater control over activities |
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Term
| what are the 4 key talents of the best sales people? |
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Definition
1. intrinsic motivation
2. disciplined work style
3. the ability to close a sale
4. the ability to build realationships with customers |
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Term
| what do salespeople need to know? |
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Definition
| they must be able to identify with the company and its products as well as be knowledgeable about the company's strategies. They must also know about the company's different types of customers, their needs, buying motives and habits as well as the basic selling process |
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Term
| what is customer relationship marketing (CRM) |
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Definition
| customer relationship marketing is the process of creating, maintaining, and enhancing strong value-laden relationships with customers and other stakeholders |
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Term
| what is direct marketing? |
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Definition
direct marketing is non-personal and personal communications between a marketer and its publics that usually have the aim of gaining a direct response, such as sales.
"an interactive system that uses one or more advertising media to effect a measurable response and/or transaction at any location"
usually one on one personalized to the customer |
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Term
| what are some types of direct marketing? |
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Definition
direct mail
catalogue
telesales and telemarketing
television and radio
electronic shopping |
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