Premiums Flashcards
Keys to successful premiums
-match the premium to the target market
- carefully select the premium( try for exclusivity)
-pick a premium that reinforces the business’s product and image
- integrate the premium with other IMC tools( like advertising and Point or purchase displays)
- the premium might not increase short term profits
Types of premiums
.Free -in - the mail (it’s when a company sends free promotional items or samples directly to customer through the mail)
.In or on package ( these are premiums that come with a product’s packaging, like a bonus item or a coupon)
.Store or manufacturer ( are given to customers by the manufacturers or stores as a reward for purchasing their products)
.Self-liquidating ( this premium covers it’s cost, so it doesn’t cost the company anything)
Methods of direct marketing
-direct mail
-mass media
Internet and email
Direct sales
Telemarketing
The role of the sales force manager
- to maximize sales and profits while controlling cost
- to define sales goal and sales process
- to determine the size and territory of the sales force
- to motivate and compensate the sales force team
- to evaluate the sales force and ensure efficiency and make any necessary adjustments if need be
Steps in selling process
- generating leads
- qualifying leads
- knowledge acquisition
- the sales presentation
- handling objectives
- closing the sale
- follow up
Personal selling
It is the process of directly communicating with a potential customer to promote a product/service
Consumer promotion
Are used by retailers to induce customers to buy a product or service
Trade promotions
Are used by wholesalers and manufacturers to get their business buyers to purchase products for resale
Coupons
Cross- ruffling coupons
Scanner deliver coupons
Bounce back coupons
Rebates
Sampling distribution
In-store distribution
Response sampling
Cross ruffling sampling
Media sampling
Professional sampling
Selective sampling
Benefits of sampling
- it’s a way to introduce a new product
- it encourages others to take interest in the product
- encourages trails use of the product
- Recieve immediate feedback from customers
- business get information about customers
Contest
Participants are reading to showcase a skill in order to win a prize, for instance a baking contest
Sweepstakes
-the winner is picked at random. They usually have to complete a simple task such as filling out at form, or giving in their contact information. No skill is required to win.
Refund
Return of money to a customer after purchase is made. Usually occurs when a customers dissatisfied with a product and request their money back
Rebates
A partial refund of or discount given to a customer after they have made a purchase.
