Event Marketing – Event marketing is a type of promotion where a company or brand is linked to an event or where a themed activity is developed for the purpose of creating experiences for consumers and promoting a product or service. Generally in an average store there may not be more than ten or fifteen items that get major display spare at any given time. Sales promotion aimed at consumers is called ‘ consumer sales promotion ‘. Companies, who have small market share, cannot match the substantial advertising budgets of market leaders in the same industry. Henko detergent introduced scratch card scheme in which customers usually received discount coupons so that customers buy the same product (Henko detergent) again. To combat the situation, it is becoming a form of compulsion on the part of the marketer to develop different promotional tools and devices. A free sample, along with a new product by consumer, and may also lead to purchase of the regular pack from the market. There are a lot of sales promotion techniques that can help your brand boost awareness and generate both immediate and long-term sales. Of course the coupon should be of immediate value, instantly redeemable “on-package”, or the discount should be given at the time of purchase. These immediate value promotions can be directed toward those who like trying new products, and those who are regular users of the product. A sweepstake is a promotion where winners are determined purely by chance; it cannot require a proof of purchase as a condition for entry. (2) Increase’ Sales Volume – The main purpose of all Promotional activities is to increase the sales of the product or products of the company. Trade-oriented sales promotion programs are designed to get the trade support. Ready stock should be made available through different outlets, approachable and accessible to the target consumers. To influence consumers behavioural patterns. A number of personal care products, such as shampoos, cosmetics, toilets soaps, or laundry products, such as detergent powders and cakes etc., have been introduced successfully in the last few years. It can be tricky for fast-moving consumer goods brands to nail a promotion tactic. Aggressive advertising and sales promotion campaigns back up new product launches by competing companies. Objectives of Sales Promotion. Deflect Customer’s Attention from Price 7. ii. At the end, the result should be an action from the consumer. Generally, a sequence of events is needed before a consumer will buy a product. Reminding the consumers of their past satisfaction will persuade them to stay with the product and prevent them from shifting to competitors. The consumer-oriented programmes stimulate the consumers, and evoke the desire to take purchase decision. Sampling: Free samples of the product is one of the best way to promote products among consumers. Objective # 3. The trial retention ratio suggested that once consumers tried ‘Palmolive’ soap, they liked the quality and stayed with the brand. TOOLS OF SALES PROMOTION A.CONSUMER ORIENTED PROMOTION TOOLS Free samples Coupons Exchange scheme Discounts Premium offers Personality promotions Installment sales 6. To attract new customers distribute free sachets to households. The following consumer promotion methods are commonly used. TOS4. Sales / Promotional Pricing. Objective # 2. It attracts channel members to participate in manufacturer promotion effort. Such contests should be field infrequently and not become a routine feature which would reduce their importance and lead to decline in interest contests can help in attaining short-term objectives and improve the company reseller relationship. There can be a number of sales promotion objectives, depending upon the firm’s policies, marketing objectives, nature of the product and its stage in product life- cycle, level of existing and anticipated competitive activity, consumer response pattern, economic conditions, and the target group (consumers, traders, or sales force), etc. It shall attempt to generate a bondage between the awareness and perception of the consumers and the personality of the brand and its features. Market promotion is also a valuable means to inform consumers the changes made in the existing products and introduction of new products. Everything you need to know about the objectives of sales promotion. The focus was on an incentive, which would ensure trial of even one cake. Everything about a contest, whether display or sales, should convey the idea that it is something special. It is also difficult for smaller companies to get proper shelf-space in retail shops without offering incentives to the re-sellers, or encourage trail by consumers without offering some immediate or extra benefit. The promotional tools should be administered and controlled in a well-planned fashion to avoid the hazards and complexities. Nature Fresh edible oil 1 liter pack is available at Rs. After the sessions over, they are not demanded any more. Encourage Repeat Purchase: Encourage Dealers to Participate in Display and Sales Contests, Objective # 7. Thus, its major role is persuasive communication. Contests can help in attaining short-term objectives and improve the company-reseller relationship. Consumer Sales Promotion. i) To reduce inventories before financial year-closing, ii) To increase the stock-holding of retailers, or even consumer before the introduction of a competing brand, or. Sales promotions help in selling and it makes advertisements and personal selling easy and effective. This is a common objective for new companies or new product launches. In business warfare, it is not uncommon that sometimes challengers resort to offering discounts. 60, making the effective price only Rs. These are some of the sales promotion techniques adopted by the marketers to accomplish the desired objectives. A firm that feels threatened would like to protect its loyal customers from switching to the new competing brand. How the Buyer's Behavior Affects Marketing Activities. vii. It is the focus of market-driven companies to develop and sustain relationships with the consumers. Maybe now’s the time? Samples are a great way to promote impulse purchases, such as new food items in a grocery store. Introducing and promoting a sale price can encourage multiple purchases of a product within a set timeframe. Share Your PDF File The firm may also announce some attractive trade-deals so that the shell space in retail shops is blocked. It provides a platform to generate a better relationship with the consumers and the prospects. The techniques may be used which can measure the results easily or may be difficult to measure in a straightforward manner. 5. Price increase can often have negative effect on sales. Post . This is generally the most powerful form of promotion for ‘new products’, the immediate aim being to obtain ‘trial’ by users.. Launch New Products and Increase Trail: Objective # 3. The most common objectives under proactive category are: i. Promotion is aimed at informing consumers about features, qualities, performance, price, and availability of firm’s products. Informing is to educate the consumers about the product. The honest answer is, “it all depends.” There are plenty of effective promotional techniques, but they’re not all right for every product or brand. (5) To Induce Middlemen – The middlemen-wholesalers and retailers are induced to purchase more stock of company’s product by offering more facilities such as credit facilities, higher cash and trade discounts, free gifts etc. There could be a number of reasons for companies to go for short-term increase in sales volume. In order to establish high brand equity and to generate brand loyalty, the promoted brands or the products should be easily accessible and readily available to the consumers. 8. In the present market condition to face the challenges of increasing competition, the marketers develop different promotional schemes to augment sales to satisfy the need of the prospective consumers. Sales promotion objectives could be either proactive or reactive. The only condition was that with each entry the contestant must enclose an empty pouch of 50 gm. Oops! Motivate dealers to stock and sell more. The target group of consumers, their behavioural patterns, their attitude and perceptions should be given due importance in order to ascertain the effectiveness of the programme. 9. The “satisfied” consumers should feel “delighted” to retain long-term understanding for mutual satisfaction. A coupon or a premium offer in a print advertisement increases the attention getting ability of ad. xi. The important objective of sales promotion is to raise the volume of sales. There should be reliable information about the competitive moves, and the inventory holding costs should not be high. Objective # 5. Sales promotion is the avenue to reach the product or the brand in the mind of the prospective consumers and to develop a brand image with favourable attitude towards the product. 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