promotion: sales promotion Flashcards
what do all promotional activities aim to get?
products known in their target market
what are sales promotions specifically designed to do?
boost sales
what does sales promotion involve?
offering an incentive to persuade current and potential customers to buy products
incentive
something that motivates/encourages someone to make a specific choice
purpose:
who does it attract?
first-time buyers who may become loyal customers having tried a product or brand
purpose:
what does it maintain?
customer loyalty
purpose:
what does it sell off?
older or less fashionable goods to make space for new items
purpose:
how does it boost sales figures?
particularly where a local enterprise is ranked on its monthly sales
purpose:
what does it entice people into a shop for?
where they may buy not only the product but other produces that are not in sales promotion
methods:
what are coupons also known as?
money-off vouchers
methods:
what is a benefit of using coupons?
encourage the customer to buy the product rather than a rival product
methods:
what is the imitation of using coupons?
impacts on profit if money-off price doesn’t cover costs of products
methods:
what is a free sample?
try before you buy
methods:
what can a free sample be often given with?
discount coupon
methods:
what is a benefit of free sample?
having tried the product, customers may decide to buy (possibility of repeat sales) - increases profit
