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. 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. Gender 2. All of the above statements about the concerns over the relationship between brand equity and advertising and promotion are true. All of the above statements about the proliferation of new products in the consumer marketplace are true. These are then e-mailed to participants for use on their social networking pages. 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. Do you want to lure new customers into your business? 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. 3. 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. a free sport bottle with the purchase of a four-pack of Gatorade. Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketers can develop appropriate sales promotion to accomplish the objective of reducing the negative impact on sales, if the price of the product was Rs. Infomercials SALES PROMOTION 1. Certain forms of advertising such as TV can require a large budget, whereas other forms such as newspaper do not. Kellogg's promoted a Bart Simpson watch to consumers who mailed in $2.95 and 3 UPCs from boxes of Kellogg's cereal. Consumer sales promotion is targeted to the ultimate consumer market. Marital status 5. Decisions and objectives for event sponsorships are often part of an organization's public relations activities. Consumer product companies launch approximately 20,000 new products each year. Race 7. When hosting an event, make sure to go all out. It is one of the primary components of business management and commerce. The many ads that people see on the Web, in magazines and newspapers, and on TV are impressive and inexpensive. Companies in the ____ industry have begun replacing brand-specific coupons with universal coupons that can be redeemed for any of their brands. This discount will be deducted straight from the bill. When calculating the costs of a couponing program, marketers should consider: The most popular method for distributing coupons is: An in/on package coupon that is redeemable for a future purchase of the same brand is known as a(n) _____ coupon. Sales promotions include all of the following EXCEPT: Internet banner ads _____ is any interference in the IMC process. All of the above statements about on-package sampling are true. For example, five-minute shoulder massages or one-hour home decorating consultations. 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. Sales promotions are marketing events or sales efforts—not including traditional advertising, personal selling, and public relations—that stimulate buying. 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. Income level 4. Do you want lapsed customers to give your business another try? Sales promotion is designed to be used as a short-term tactic to boost sales – it is rarely suitable as a method of building long-term customer loyalty. 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.” Super-Sav is using a: Every time Beth buys a book at Waldenbooks, she presents her Waldenbooks card, and the sales associate enters her purchase in a database. 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. In 2017, The New York Times described it as "the art of telling stories so enthralling that people lose track of their wallets. 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. 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. And if you are not applying this profitable source, you are missing out an incredible marketing opportunity, as it makes it easy to … How has the view of sales promotions changed during the past decades? because they are convinced sales promotions can be used to build brand equity more effectively and more quickly than other promotional mix elements. Service businesses would do well to give away mini versions of their offerings. Sales promotion has a capability to complement and supplement the advertising functions of the marketing. Meanwhile, promotions for higher-end, more expensive products use sales promotions to convert consumers who typically make economical purchases. Kellogg's promoted a Bart Simpson watch to consumers who mailed in $2.95 and 3 UPCs from boxes of Kellogg's cereal. Consider your unique selling points. 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 tools are unique in their way and directed differently to these three groups. Some sales promotions are aimed at consumers. 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. Sales promotion is a $300 billion—and growing— industry. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! The American Airline AAdvantage promotional program rewarded consumer: Post Cereal is introducing a new kind of breakfast cereal that is soy-based and targeted at health-conscious adults between the ages of 25 and 50. People correctly think that promotion money gets spent primarily on advertising. Sales promotion is the process of persuading a potential customer to buy the product. Which of the following is an example of a sales promotion that can be used to contribute to franchise building? This would be an example of: Some promotional studies indicate the number of sales promotions being offered to consumers is limiting its effectiveness as a marketing tool. 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. This is an example of a(n) _____ coupon. The sales promotion tool that critics contend is most guilty of detracting from brand equity and at the same time being detrimental to a brand franchise is: Which of the following is a reasonable objective for consumer-oriented sales promotions? Which of the following statements about on-package sampling is true? TL;DR (Too Long; Didn't Read) Types of promotional strategies include traditional and online advertising, personal selling, direct marketing, public relations and sponsorships and sales promotions. Radio 1. Coupons always make a comeback in penny-pincher markets, which means they're hugely popular these days. PR Events 1. Salesmen 1. 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. Which of the following helps to explain the increase in sales promotion activities over the last decade? Wal-Mart is known for its marketing ______________, influencing all aspects of marketing including sales promotions by brand manufacturers. Consumers have become more sensitive and responsive to sales promotion because: Marketing planning and reward systems may lead to an increase in the use of sales promotion because sales promotions encourage: the use of price-oriented promotions to generate short-term sales. 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. Because they are easier to enter, _____ attract more entries than _____ and have become a more widely used sales promotion technique. Critics of sales promotions contend the increase in sales promotions is leading to a decrease in: Which of the following statements correctly describes the relationship between brand equity and sales promotion? 50 before the price rise, and the new price is Rs. Retailers can turn sampling into promotional events. 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. Demographic grouping is based on measurable statistics, such as: 1. These objectives are for both marketers and traders. _____ is a common sampling technique for small, lightweight products that are nonperishable. Inefficiently run sales promotions can result in: a disclaimer used with contests and sweepstakes to protect the sponsoring company. 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? Target your effort Promotions can spur purchases by established customers, reel in new customers, draw customers from competitors, get current … 50 and Rs. According to Joncos (1990) sales promotion is an effective way of competitive retaliation rather than marketing activities. Another great example: Estée Lauder works with retailers to offer women free mini-makeovers that end with customer photos (against an Estée Lauder backdrop). By knowing the potential bottom-line impact of your promotion, you'll have the information you need to allocate a promotion budget, dedicate staff time and invest the energy necessary to host a strong promotion that will deliver business-boosting results over the time period it covers. https://quizlet.com/284976713/imc-373-exam-3-chapter-16-flash-cards A promotion strategy is defined by the plan and tactics you implement in your marketing plan to increase your product or service demand. This is an example of: can be accomplished through consumer promotions that reinforce established brand images or positioning. 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. Television and/or Movies 1. Sales promotion activities that communicate distinctive brand attributes and contribute to the development and reinforcement of brand identity are: Which of the following statements describes how brand equity is affected by the increased role of sales promotion? The stuffed toy is an example of a(n): Consumers must pay the manufacturers' out-of-pocket costs for a _____ premium. Copyright © 2021 Entrepreneur Media, Inc. All rights reserved. Sales promotion is a $300 billion—and growing— industry. _____ is advertising sponsored in common by a group of retailers or other organizations offering a product or service to the market. Outdoor Ads 1. Business Directories 1. Which of the following sales promotion tools should work best for Post? 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. Coupons are often used by consumers who are already loyal to the brand. 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? Education 6. 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. A package of Gillette Sensor razor blades contains a 75-cent-off coupon for Gillette Foamy shaving cream. To celebrate this month, the manufacturer of Aleve pain reliever sponsored fundraiser walks to raise money to find a cure for arthritis. 55. A liquor vendor, for instance, might want to target its marketing efforts based on the results of Gallup po… These points can be used to purchase cookware, dishes, and other similar hard goods. 2. Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. 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. Sales promotions are now considered an essential part of an organization's branding strategies. Get customers out of a holding pattern with a top-notch campaign. 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. In a sales promotion sponsored jointly by Puerto Rico Tourism Board and Rums of Puerto Rico, couples were invited to enter a contest for a chance to win the perfect wedding. 60, making the effective price only Rs. Advertising is just one method of marketing communications, which is the umbrella for many methods.TYPES OF ADVERTISING – MASS MEDIA 1. 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. Consumer sales promotion is targeted to the ultimate consumer market. Do you want to boost business during slow hours, weekdays or particular seasons? Today, more than ever, marketers are relying on digital platforms to sell their products. Marketers communicate with their audience in order to inform, educate and persuade them to purchase their product or service. Consolidation in the grocery industry has resulted in larger chains with greater buying power and clout. Ingredient-sponsored cooperative advertising. Which of the following couponing methods allows companies to reach users of competitive brands rather than consumers who already use their brand? If so, continue to the next step. The basic purpose of sales promotion is to increase the sales of a product by creating demand. Or, for higher-ticket service businesses, samples can take the form of affordable introductory packages that allow prospective customers to wade into the business relationship, gaining trust for the business while also receiving a valuable service. Plus, enjoy a FREE 1-year. Which of the following statements about the use of premiums as a sales promotion tool is true? Which of the following is an example of a nonfranchise building promotion? In the opening vignette, Macy's learned the hard way that: In the opening vignette, Macy's learned that extensive use of discounts and promotional offers: undermines their ability to build and maintain brand equity. Magazines and/or Newspapers 1. Effective blending of promotion efforts is achieved through integrated marketing communications, so that the firm can send a consistent and complete message. 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. 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. You can use various techniques like giving discounts on the product, offering 1 + 1 free schemes, etc etc. 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. 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. What do many businesspeople give as a reason for the increasingly short-term focus on performance and sales volume in business today? As a result, you must decide which of the following is most important so that you can target your effort: After carefully and thoughtfully defining the audience and the change you want your promotion to inspire, ask yourself this question: If you offer a time-limited incentive, is it likely that the customers you've targeted will respond? The use of premiums is very popular among fast food restaurants as a way of attracting children. But rarely can one promotion accomplish all of those objectives at once. Acushnet ran a promotion offering a box of fifteen Pinnacle golf balls for the same regular price as twelve balls. When New Balance sponsors a campaign advertising the availability of its running shoes at FootLocker stores, this is an example of _____ advertising. 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. Sales promotions are a campaign that uses time-sensitive offers — sales, discounts, coupons, etc., to engage existing consumers and bring in a larger audience. Which of the following statements about rebates is true? The building or reinforcement of consumer-franchise or equity for a brand: can be done with carefully planned sales promotion programs. 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. Which of the following sales promotion techniques would be most effective for generating excitement or interest in a brand? can be used to generate excitement and involvement with a popular and timely event. Which of the following elements of the integrated marketing communications programs is designed to provide an extra incentive to consumers to purchase a brand? 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. Just be clear about what you want to achieve. 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. All of the following are examples of trade-oriented sales promotion activities EXCEPT: All of the following are examples of consumer-oriented sales promotion activities EXCEPT: Which of the following statements about sales promotion programs is true? Entrepreneur Store scours the web for the newest software, gadgets & web services. This allows the business to tailor its marketing activities with the needs, wants, aspirations and expectations of target customers in mind. Their selling activity becomes easier when the manufacturer supplements their efforts by sales promotion measures. 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. What makes your product/service different from everyone else's? This enables the business to use its marketing resources more efficiently, resulting in more cost and time efficient marketing efforts. The company tries to move its products through the channel by convincing channel members to offer them; assumes that if consumers see the product on the store shelves, they will be motivated to make a trial purchase; marketers spend the promotion budget on personal selling, trade advertising, and trade sales promotion activities that will "push" the product from producer through the channel of … Product line depth. Think of Costco on weekends. 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. 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