(a) produce the good at the lowest cost (b) adopt many trade restrictions (c) revalue the currency (d) enter into an orderly marketing agreemen, Suppose a chain of convenience stores recognized its system of supplying its stores with food. Some of the disadvantages of sales promotion are as follows: Sales promotion though it may seem, but is not a panacea in marketing. Sales promotion: definition. The objective of this deal is to _____ consumers and thereby _____ the sales of the competitor's new product. The introduction of a certain amount of fun and excitement into promotions which customers can enjoy as participants. If someone hasnt mastered the skill of their current job, they are not ready for promotion. A. a decline in the cost of advertising on radio and newspapers enabling firms to more efficiently reach a wide audience B. a supreme court ruling that limits the market share i, Woof.com is an online seller of products for dogs. b. Being a self-starter is advantageous since a lot of jobs require some level of personal responsibility. Prohibited Content 3. C. Discounts arising fr, Frequent price cutting by firms in an industry, frequent introduction of new products by firms in an industry and intense advertising campaigns are indications of A) high power of buyers. Buy one, get one free promotions. Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis. Problems are inevitable, so promote someone who is not scared to face them. According to Burn, Marshall, and Barnett, this would make the c, Making modifications to packaging or brand names involves the ____ component of the marketing mix. Sales promotion can be a great way to increase or create the demand for a product. d) All of the above, Consumers buying products online have dramatically affected the ____ variable of the marketing mix. b. decreased brand parity and price sensitivity. How can Publix use social media to assist in the develo, Which group of policies aims at discouraging rivals from starting a price war? b. reinforcing brand positioning c. defending the franchise with new product features, competitive advertising. c. increased brand loyalty. It helps marketers to realize a variety of objectives. Sales promotion can help to expand distribution. There are numerous benefits to promoting a current employee: Succession planning prepares future leaders and saves your company time and money when transition occurs. xiii. In addition to serving current customers, marketers must rapidly identify. copyright 2003-2023 Homework.Study.com. Which of these sales promotions should be used in this case? Manufacturers b. The manufacturer offers a number of attractive terms to dealers in order to induce them to buy an article. Although sales promotion is an important strategy for producing quick, short-term, positive results, it is not a cure for a bad product, poor advertising, or an inferior sales team. If theyre already seeking learning opportunities, being trained will seem like a natural and positive process for them. The issue of sales promotion has been receiving increasing attention from both advertising and marketing professionals and academicians. Sometimes, it prepares the ground for the salesmen to meet the prospects by sending them circular letters and sales literature. b. allow a manufacturer to lower the price of the product. b. (Balasubramanian, Kumar 1990, Ailawadi, Farris, Parry 1997; Balasubramanian, Kumar 1997), i. Cons of sales promotions. c. increase brand loyalty. Sales promotions can help to increase or reduce trade inventories. Rivalry among competing sellers increases: A. when buyer demand is growing slowly. Modern manufacturers offer a variety of management aids to dealers. New technology gives the opportunity for more sophisticated promotions like printed coupons at point-of-purchase to reward loyal shoppers or attack rival brands. Report a Violation, Sales Promotion: Essay on Sales Promotion (645 Words). Look for someone who delivers clear and concise messages within the team but does it in a friendly and transparent manner. Accessibility and availability of the products. Our own desires are great self-motivators. Sales promotion can introduce a new or improved product or different packaging, v. Sales promotion can be used to neutralized competitive advertising or sales promotion. Sales promotion can help to expand distribution. 4. increased media. b. reduce price below cost to deter entry. hich of the following is NOT true regarding slotting allowances? Assume that Coppertone invests heavily in trade allowances to encourage retailers to stock and promote QT, its skincare product designed for a quick suntanned look without the dangers of sunbathing. C), Joe is developing the marketing mix for his company's new line of power tools. Fast moving merchandise also stimulates the dealers to keep a large stock with them. Trading stamps are a special type of premium received by customers, which can be redeemed for merchandise through stamp redemption. i. This aspect of the job drives employees the mostthe ultimate reward for dedication and loyalty towards an organization. 16) Quantity Discount. vi. d. A reason for the growth of sales promotion is ____. C) the rate of growth and the number of national outlets. It provides reluctant decision makers with an incentive to make choices by increasing the value offered by a particular brand and also reassures the indecisive consumer. In such conventions and conferences, the sales promotion department exposes the salesmen to the latest sales techniques and latest methods of promotion of goods. Less use of incentives and price cuts to induce purchases. The basic purpose of sales promotion is to increase the sales of a product by creating demand. The introduction of a certain amount of fun and excitement into promotions which customers can enjoy as participants. Which of the following would best benefit the development of niche marketing? A reason for the growth of sales promotion is ____. Retailers have exclusive products that cannot be purchased from competitors. First, consumers have not only accepted but also prefer sales promotion as part of their buying decision criteria. a. Consumer Promotion is useful for promoting new product. d. gain another firm's customers. Distributors c. Retailers d. Sales promotion means and includes all the activities that are performed by a producer, a . Dayton's would have received a(n) _____ from the manufacturer. Operations Management questions and answers, 10. Hiring from within saves costs of recruiting, interviewing, and onboarding. The corporate structure's greater focus on short-term results has spurred the growth of sales promotion, designed to boost sales for a limited time through a temporary campaign. One way for a country to obtain an absolute advantage in marketing a product outside its borders is to _______. 24. decreased brand parity and price sensitivity a. Recognizing, Problems that arise in the workplace tend to be out of your control; the way you deal with them, however , 2023 Vital Learning, LLC, All Rights Reserved - Privacy Policy, By investing time and resources into succession planning. Firms with small budgets cannot compete with big companies, which spend huge sums of money on advertising. Let's look at this promotion example below from ActiveSkin. e. emphasis on short-term results in corporate-reward structures. a. point-of-sale display b. premium c. rebate d. coupon, Starbucks' strategy has proven successful largely due to: a) focusing only on offering high-quality coffee in stores, rather than expanding to other types of products, to avoid diluting the brand. Content Guidelines 2. a. growth of sales promotion b. decline of sales promotion c. de, For marketers, the benefits of having achieved brand loyalty include: a. less likely consumers will try the competition b. lower marketing costs associated with reaching loyal customers c. decreased price sensitivity among loyal customers d. all of the ab, Alberton's supermarket prominently displays the prices of its brands side-by-side with prices you may pay at competing grocery stores for the same brand. Mass marketers utilized national advertising to get directly to consumers, creating a demand for the heavily advertised brands that stores could not afford to ignore. Many grocery retailers find it easy to rationalize slotting allowances on the grounds that their net profit margins in selling groceries are minuscule (typically _____ percent) and that slotting allowances enable them to earn returns comparable to those earned by manufacturers. It is used to provide extra value or incentive to customers and can be in the form of coupons, discounts, freebies, contests, sweepstakes, loyalty programs, and more. Which of the following statements is true? Cost for Results In This Industry Are Relatively Low. So for example, a single soap may cost $1 but a combined package of 5 units of soap might cost you $4, giving you a 20% discount on the purchase. 1. The 4 Ps of marketing are product, price, place and promotion. shaving cream and after-shave lotion), x. This helps the salesmen a lot while selling. c. increased brand loyalty. First, consumers have not only accepted but also prefer sales promotion as part of their buying decision criteria. This promotional offer of a great gift is a good way to convince customers to spend a bit more. Sales promotions are short-term incentives to buy products. Each hiring opportunity will be different, so weighing the pros and cons can help you make the right choice at the right time. a. the increase in power for the manufacturers over the grocery stores. 3. Line extension b. Repositioning c. Diversification d. Expansion, The target of sales promotion can be _____. Under these circumstances, advertising messages are unable to strongly influence the consumers perceptions and create brand franchise. These objectives are for both marketers and traders. Increase sales by 10% over last year. Terms related to Argument and Argument Evalua. C. as the products of rival sellers become more strongly differentiated. \\c. 11. That said, all sales promotions point back to the bottom line and at the end of the day, the goal is generating more revenue. a. The balance of power has shifted away from manufacturers and toward retailers. There are both a buyer's and a seller's market and different types of goods available in these markets. Advertising expenditures as a percentage of total marketing communications expenditures are approximately _____ percent. When considering using a sales promotion, it's important to remember the two main risks of the "sales promotion trap":. This view is reflected in the number of new products introduced yearly; New Product News reports that in 1990s, there were 13,244 introductions with 10,301 introductions coming from food categories. He may deduct the prices of such new goods on each minimum quantity of product purchased. How have LVMH's corporate strategy choices strengthened or weakened its competitive position in the branded of luxury products industry? This is an example of a _____ strategy. As it was shown in the above mentioned research (see also Gupta 1988), purchase acceleration is predominantly exhibited in increased purchase quantities rather than shortened interpurchase times. Spread information about the brand to new customers or new market. As sales volume increases with the broad acceptance of the new products, the firm can lower its price. A reason for the growth of sales promotion is _____. In the world of sales, the phrase 'closing a deal' offers the biggest high and for good reason, but is that all there is to the art of selling? \\d. If the Internet continues to grow and sales of brick-and-mortar retailers decline, how might the retailers attract, train, and retain high-quality employees if the industry is perceived as in decline? B. result in increased profits for the advertising firm. Youve been able to see their skillsets, work ethic, and cultural fit in action. Sales promotion can be effected in several ways. c) Clash of corporate cultures. Marketing managers use sales promotions to stimulate buying and increase consumer interest in a product. Some of these points have been proven practically by the industry. To make personal selling highly effective, sales force promotion is essential. CatGenie quickly develops a special price-off deal to prevent the competitor from stealing market share. Continuous innovation of new promotion formats. As part of the marketing mix, promotion includes all activities that involve communicating with the customer about the product and its benefits and features. It can increase failure rates. Sales Promotion - Reasons for Rapid Growth in Sales Promotion (With Criticism) The purpose of sales promotion is to increase sales. That way, difficult situations will be solved effectively, and tasks will be delegated to the right team members. stimulate demand and encourage purchases. Such type of quantity discount is common for customers. While advertising presents a reason to buy a product, sales promotion offers a short-term incentive to purchase. Posted by Marie Verity on Fri, Jul 5, 2019 @ 11:13 AM. The _____ strategy consists of a manufacturer directing personal selling, trade advertising, and trade-oriented sales promotion to wholesalers and retailers. Sometimes, the manufacturer may allow credit to dealers for a longer period of time, he can also allow high discount to dealers so that they are automatically attracted towards the attractive terms. Promotion - Reasons for Rapid growth in sales promotion: Essay on sales promotion: Essay on promotion... Franchise with new product features, competitive advertising the skill of their buying decision criteria excitement... 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Such new goods on each minimum quantity of product purchased sophisticated promotions like printed coupons point-of-purchase., so weighing the pros and Cons can help you make the right choice at the right choice at right... Advertising and marketing professionals and academicians promotion: Essay on sales promotion is to _____ consumers and thereby _____ sales... N ) _____ from the manufacturer, Parry 1997 ; Balasubramanian, 1990. Hiring opportunity will be delegated to the right choice at the right time price the! Will be different, so weighing the pros and Cons can help you make the right members!, sales force promotion is ____ of niche marketing, so promote someone who not., so promote someone who delivers clear and concise messages within the team does... Line extension b. Repositioning c. Diversification d. Expansion, the firm can lower its price variety management., Farris, Parry 1997 ; Balasubramanian, Kumar 1990, Ailawadi, Farris, Parry 1997 Balasubramanian... 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