This discount is called a(n) _____. 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: Trade promotions _____ involves a variety of procedures whereby consumers are given some quantity of a product for no charge to induce trial. There are a number of reasons that are favorable to the growth of sales promotion: 1. In such cases, the manufacturer may reimburse the advertising expenditure borne by the dealer. Bookmarks. D) marketing mix. Brand equity is stabilized. Start by looking at the core values of your company. In the introduction stage of the product life cycle, marketing efforts are primarily focused on: a. building customer awareness of the product. c. An increase in its customers' disposable income. Media advertising tends to be impersonal whereas sales promotion is more personal, linking the manufacturer with the customer. Create more incentive. (Neslin, Quelich, Henderson 1982). (Photo: Public Domain) Google's marketing mix (4Ps) is a major factor in the global success of the business. 1. B. New technology gives the opportunity for more sophisticated promotions like printed coupons at point-of-purchase to reward loyal shoppers or attack rival brands. a. After all, no one has the time or the bandwidth to constantly hold their employees hand. The advertisi, A retailer that has many people browsing in their store, but few people actually buying products, needs to strive to increase its a. innovativeness b. advertising c. conversion rate d. market segment e. consideration set, Vertical brand extensions, which extend the brand up into more premium market segments or down into more segments, are a common means of attracting. A reason for the growth of sales promotion is _____. Offer real value. With this promotion, companies lower the cost of an item for a specific period. C. as the products of rival sellers become more strongly differentiated. 1. Advent of optical checkout scanners. The growth of huge supermarkets necessitated the need for aggressive selling. Sometimes, the manufacturer promise the dealer to take back goods if they remain unsold. Go through your candidates for promotion and grade each on their fundamental soft skills. Many supervisors analyze employee performance to determine if they deserve to be promoted to higher roles. Buy one, get one free deals (aka BOGO) are among the most popular types of sales promotions. In theory, a promotion requires more work and effort in a job. 65% of companies identified in-person tradeshows as an invaluable part of their marketing strategy. An increa, In order to increase customer traffic, you want to offer an immediate discount when a customer purchases a certain product. Hiring from within saves costs of recruiting, interviewing, and onboarding. In many cases, consumers have reached a point of boredom due to excessive advertising on TV. A reason for the growth of sales promotion is ____. Historically, the manufacturer held the power in the channel of distribution. 1. c. increased brand loyalty. Industries where buyers have higher bargaining power are less attractive. Albertson's hopes to stimulate added sales inducing the perception that consumers are getting a "deal, If a product is modified by reducing its quality, the marketer's likely intent is to: a. provide new opportunities for market segmentation. a. price b. promotion c. market d. distribution e. product, Manufacturers and retailers have a difficult time selling products based primarily on a sustainability message, yet consumers believe sustainability is important. Here are some common types of sales promotions companies use to appeal to customers: 1. b. decreased brand parity and price sensitivity. Problems are inevitable, so promote someone who is not scared to face them. 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. The dealers are also given detailed information about the process of manufacture so that they can answer customer queries more efficiently. Which of the following would best benefit the development of niche marketing? Management estimates it will lose 10,000 units in sales if it does. Joseph Mair has recorded one such policy statement in the Handbook of Sales Promotion; the policy says: 1. The company that ow, Distribution, price, promotion, and product are all elements of: a. a target market b. a marketing strategy c. the marketing mix d. a consumer good e. a business strategy, Which of the following is NOT a tactic for reducing the bargaining power of customers? In such conventions and conferences, the sales promotion department exposes the salesmen to the latest sales techniques and latest methods of promotion of goods. d) All of the above, Consumers buying products online have dramatically affected the ____ variable of the marketing mix. a. push strategy b. skimming strategy c. multi-marketing strategy d. pull strategy. Which of the following statements regarding slotting allowances is TRUE? Which one is it? Consumer Promotion is useful for promoting new product. They are certificates entitling the bearer to a discount on the purchase of a specific product. The sales promotion department usually arranges such contests to increase the efforts, and energies of the sales force. a. Sales promotion can be effected in several ways. Sales promotions come in many forms and support a long list of objectives. Sales promotion may also help in increasing the effectiveness of advertising. Study sales promotion techniques and characteristics, as well as sales promotion examples. In contrast to advertising, which typically, though not always, is relatively long term in orientation and best suited to enhancing buyer attitudes and augmenting brand equity; promotion is more short-term oriented and capable of influencing _____. c) Purchase standard, undifferentiated commo, In franchising, the reputation of the franchiser is dependent on: A) their locations and popularity with the local customer. Sales promotion is very important in this modern age. However there is a very important question how these two aspects will influence (counteract) each other due to the stockpiling effect. In order to avoid paying slotting allowances, a manufacturer can _____. On-the-shelf promotion is another reason for its growth. Which of the following is a form of trade allowance? The reasons for this unappealing outcome are an increase in variable costs (including raw materials, packaging, and labor) required by the extra sales volume, in conjunction with a reduction in . It provides reluctant decision makers with an incentive to make choices by increasing the value . Generally, sales promotion plays a pivotal role in consumer marketing but the same is not always true for industrial marketing. Focusing on the short term, sales promotions are designed to immediately: increase exposure and capture attention. A manufacturer of fruit juice has to pay retailers a fee if they want to get their new product onto the retailer's shelves. An industrial contract will include provision for financing, for back up services and training. A company's attempt to increase market awareness and demand for a product or service is demand generation. 11. c) Clash of corporate cultures. Sales promotions can help in establishing a good buyer-seller relationship and understanding the perception of a buyer towards the product. The outlook that managers project trickles through to the team members and defines the atmosphere in the workplace. "Free gift with purchase" promotion. Being autonomous is a common trait that many business leaders look for in a new hire. A _____ strategy consists of manufacturers directing advertising and promotion at the consumers. Answered! b), In a declining industry A) product-differentiation efforts are focused on product refinement as a basis of product differentiation. The target of sales promotion can be _____. First, consumers have not only accepted but also prefer sales promotion as part of their buying decision criteria. Ans 10: e.emphasis on short-term results in This is due to the direct administration into the bloodstream. C) market segmentation. Which of the following is an example of a push strategy? Fewer competitors than in a mass market. Retailers receive a(n) _____ for featuring the manufacturer's brand in advertisements or for providing special displays. e. emphasis on short-term results in corporate-reward structures. Prohibited Content 3. Increase in competition and introduction of economic liberalization has lead to growth of the sales promotion. \\d. Researchers have determined that loading consumers, by offering deal-oriented promotions, does increase consumers' product usage, especially when _____. Once the brand reaches the maturity stage of the product life-cycle, its growth rate begins to decline slowly. According to Porter, faced with pressures to gain market share or enamored with innovation for its own sake, managers can spark new kinds of competition that no incumbent can win. Stabilize sales volume and fulfil short-term sales goals. a. unsought b. shopping c. specialty d. convenience, Which of the following would tend to reduce the bargaining power of buyers? Content Filtrations 6. \\ A) multiple pricing B) opportunistic pricing C) discount pricing D) price lin, Manufacturers and retailers have a difficult time selling products based primarily on a sustainability message, yet consumers believe sustainability is important. High cost of media advertising such as newspapers and TV, is one of the main reasons to find more cost-effective forms of sales promotion. Rivalry among competing sellers increases: A. when buyer demand is growing slowly. d. increased media effectiveness. Trading stamps are a special type of premium received by customers, which can be redeemed for merchandise through stamp redemption. increased brand parity and price sensitivity. Due to increase in competition, companies are finding it increasingly difficult to compete on quality. 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. People who are money conscious buy such jeans. How can Publix use social media to assist in the develo, Which group of policies aims at discouraging rivals from starting a price war? 1. The downside of sales promotions is that some businesses suffer from becoming overly dependent on them in an effort to boost sales. Sales Promotion can be termed as a process that drives short-term promotions to increase the demand and the subsequent sales for the said product. Terms related to Argument and Argument Evalua. Higher sales prices b. When considering using a sales promotion, it's important to remember the two main risks of the "sales promotion trap":. The main drawback of a multi-national strategy is that it does not allow a company to: a. exploit scale economies in product development or marketing b. closely monitor buyer preferences in each local market c. modify its products except for the most supe, Why might penetration pricing potentially impact brand image and product positioning in the long run? i. As a result of these perceptions of similarity among brands, marketers have no way but to compete on the basis of extra benefit offered through sales promotion. b. The owner advertises in the local newspaper to attract customers. a. the increase in power for the manufacturers over the grocery stores b. decreased brand parity and price sensitivity c. increased brand loyalty d. increased media effectiveness e. emphasis on short-term results in corporate-reward structures Question 2 An autonomous self-starter wont crunch under the pressure or get overwhelmed and will even know when its appropriate to ask for help if needed. Product managers are also using sales promotion as a tool to differentiate their brand from that of competitors in the short term. Thanks for the timely response, appreciate it. i. How can Best Buy continue its upward trend in the coming years? 7. Sometimes, it prepares the ground for the salesmen to meet the prospects by sending them circular letters and sales literature. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide). A critical marketing task for a venture desiring high growth is to . A. Now Joe is concentrating his efforts on developing the best advertising plan for the product line. A reason for the growth of sales promotion is _____. Standardisation of the products. There are both a buyer's and a seller's market and different types of goods available in these markets. That way, difficult situations will be solved effectively, and tasks will be delegated to the right team members. The relative penetrating power of alpha, beta, and gamma radiation. For a complete list of videos, visit our video library, Privacy | Terms of Use | Contact Us | Apr 18, 2023. Cost-Effective. Sales promotions can help to increase or reduce trade inventories. Diversify the product line to appeal to more people. As a result, they enter a precarious short-term marketing cycle and struggle to plan for long-term goals and growth. \\c. Competing companies struggle to capture market share by using every tool likely to bring sales success. The assessment of the situation for the promotion of industrial products is based on the following observations. This led to a sharp reduction in the number of trucks that the company had to use and increased the amount of fresh food on store shelves. B. result in increased profits for the advertising firm. Econo Foods is very interested in ensuring that media buying for the chips is strategic, Generally, when advertising to consumers, the objective of an advertising campaign is: a. to offset sales promotion costs b. to maximize media planning c. a pull strategy: to get the product into stores by having consumers demand it d. a push strategy: to, A retailer believes that its new advertising strategy will increase sales. Copyright 10. hbspt.cta._relativeUrls=true;hbspt.cta.load(429930, 'd287d540-2cf3-4c51-9339-4109c3de637a', {"useNewLoader":"true","region":"na1"}); Effective communication is key to every professional and personal relationship. Manufacturers and marketing companies have realized the role that sales promotion can play in services marketing. And though replication of the study did not confirm the results of the original research, this is still considered as one of the possible explanations of the variations of the levels of advertising and promotional expenditures for different companies. Option a) It is incorrect because sales promotion is a marketing approach that disregards the producers' leverage over retailers. Heroin has a slight affinity for opiate receptors. A) pull B) push C) financial D) dedicated line E) dynamic pricing, Which of the following is an example of a strategy? Being a self-starter is advantageous since a lot of jobs require some level of personal responsibility. a. permanently stop an established brand's declining sales trend b. . a. decline b. introduction c. growth d. maturity, Which of the following is an advantage of growth by means of external growth strategies? 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. Think about a time when one of your team members struggled to effectively communicate an idea or issue to you. By inducing more sales through sales promotion, inflow, of cash increases This could be one of the objectives of the firm. The most common users of sales promotion are _____. B. as it becomes more costly for buyers to switch brands. a) Gaining access to new products and markets. Disclaimer 9. There is need for a cordial relationship between the manufacturer and the dealers i.e., wholesalers and retailers including the agent middlemen. Sales promotion has a tactical, rather than strategic role in marketing communications and brand strategy, it is also a form of advertisement used within a short period of time.Researchers Farhangmehr and Brito, reviewed the definitions of sales promotions in . Firms may offer contests to attract customers by offering substantial cash or merchandise price cuts. Look for someone who delivers clear and concise messages within the team but does it in a friendly and transparent manner. We reviewed their content and use your feedback to keep the quality high. stores, b. 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. At the same time, look for a confident communicator, the one who is ready to defend their point of view, or pitch an idea they really believe in. They already have a working knowledge of company culture and processes. 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? Consumer promotion includes samples, coupons, money-refund offers, price-off, premiums, contests, demonstrations and trading stamps. By inducing more sales through sales promotion, inflow, of cash increases; This could be one of the objectives of the firm. Privacy Policy 8. This increase of attention can be explained by two major interrelated factors: first, the nature of sales promotions - it brings certain measurable (as opposed to advertising) impact on sales, which attracts many marketing managers; it also has been proven . emphasis on short-term results in corporate-reward structures. Her superior warns that this might be a bad idea because MegaGrain's long-te, Perfect competition is characterized by: a. rivalry in advertising b. fierce quality competition c. the inability of any firm to influence price d. widely recognized brands, A firm thinks its consumer promotion expenditures are too high and wants to cut $500,000 from the budget. In contrast to advertising, which typically, though not always, is relatively long term in orientation and best suited to enhancing buyer attitudes and augmenting brand equity; promotion is more short-term oriented and capable of . 6. d. help retailers tr. Retailers usually pass along to consumers the discounts they receive from manufacturers. Temporary cost reduction. A reason for the growth of sales promotion is ____. Invigorate the use of mature product: Sales promotion can affect purchase acceleration Here two aspects of purchase acceleration should be considered increased quantity and decreased interpurchase time. Founded in 1998, the company has expanded to include Google Search, as well as a . iii. Distributors c. Retailers d. D. All of the above. d. increased media effectiveness. There are a number of reasons that are favourable to the growth of sales promotion: Increasing Competition. 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. a. Media advertising tends to be impersonal whereas sales promotion is more personal, linking the manufacturer with the customer. Therefore, Spykar Jeans comes up with such discounts, which helps them in increasing their sales and also in stock clearance, Sales promotion can obtain feature pricing, displays, and other dealer in-store support. Reasons for the Rapid Growth of Sales Promotion: This is due to several factors which contribute to the rapid growth of sales promotion, particularly in consumer markets. It is a way for companies to be charitable. A reason for the growth of sales promotion is ____. 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. C) but this can hu, Many small business owners use a {Blank} strategy to move stale, damaged, or slow moving goods or to encourage shoppers to purchase merchandise before an upcoming season. The use of premiums in the direct mailing and selling of financial offers or financial services. Importance of Sales Promotion for a Company. Some of the qualities to look for in the candidate for promotion are empathy and willingness to connect with others. Sales promotion can help to expand distribution. 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. A sales promotion, or promo, is a set of marketing strategies used to boost the demand for a product or service, raise brand awareness, and increase revenue. If your sales promotion doesn't offer them real value, then all the targeted marketing and limited-time offers in the world won't make your sales promotion a success. Your manager will have a team to lead so tasks related to the previous job will have to be done in a fast and efficient manner. Did they get frustrated or frazzled, did they expect you to give them directions or did they propose an effective solution? It is an important promotional strategy to -. Sales promotions are short-term incentives to buy products. By investing time and resources into succession planning and promoting from within you will have a strong team that will lead your company to success. Would you characterize the rivalry and jockeying for better market position, increased sales, and market share among the companies in your indust, A monopolistically competitive firm maintains its market share through a) artificial product differentiation. Encourages switching from competitor brands, viii. B) high threat of new entrants. C) skimming. Joint promotion which link the buying of one service to another. Consumer sales promotion -related spending increased from $56 billion in 1991 to nearly $100 billion in . As sales volume increases with the broad acceptance of the new products, the firm can lower its price. They might have to continue performing familiar tasks while having to learn and execute additional responsibilities. 5. and acquire, new profitable segments to serve. In addition to that one issue that is worth discussing here is cost /sales ratio for advertising and promotion. ____ are fees manufacturers pay retailers for access to the slot, or location, that the retailer must make available in its distribution center to accommodate the manufacturer's new brand. C) increasing the square-footage of their retail locations. 1 lakh for a 10 second exposure during prime time. (a) monopolies have grown (b) people are selfless (c) government is good at directing a production (d) people are typically selfish. A reason for the growth of sales promotion is _____. a. b. retailers, manufacturers, and the sales force. Discuss the following key success factors in the detergent industry: 1. market expertise 2. appropriate pricing strategy 3. economies of scale 4. brand loyalty 5. development of new/innovative products 6. supply contracts for commodity inputs. b) relying on brand loyalty. To main the high production capacity, a company may go for sales promotion to accelerate sales. Can be used for a wide range of different objectives, xii. The balance of power has shifted away from manufacturers and toward retailers. Customer feedback is crucial for business success, and you can combine it with a sales promotion to entice customers to give it. The introduction of a certain amount of fun and excitement into promotions which customers can enjoy as participants. c. retailers, consumers, and manufacturers. Thus, now you know the role and nature of sales promotion. Sales promotion has grown substantially in recent years. Dayton's would have received a(n) _____ from the manufacturer. Firms that use nonmonetary rewards are most likely trying to: A) reinforce achievement and sales growth. Let's look at this promotion example below from ActiveSkin. Problems that arise in the workplace tend to be out of your control; the way you deal with them, however is in your control. Cost for Results In This Industry Are Relatively Low. a. 4. How are retailers able to impose expensive slotting fees on manufacturers? The air of change is gaining momentum after the introduction of economic liberalization. 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. B) the brand name recognition and appeal. Go through your candidates for promotion and grade each on their fundamental soft skills. High cost of media advertising such as newspapers and TV, is one of the main reasons to find more cost-effective forms of sales promotion. Term, sales promotion by the dealer includes samples, coupons, money-refund offers, price-off,,! Forms and support a long list of objectives are due to excessive advertising on TV thus, now know. Study sales promotion examples the effectiveness of advertising one, get one free deals aka! Use your feedback to keep the quality high additional responsibilities where buyers have bargaining. A critical marketing task for a wide range of different objectives, xii Relatively Low or providing! But does it in a friendly and transparent manner to effectively communicate an idea or issue to you has to. Providing special displays trend in the direct administration into the bloodstream who is not always TRUE industrial! Desiring high growth is to is TRUE process that drives short-term promotions to increase customer,... The prospects by sending them circular letters and sales growth that many leaders. Use of premiums in the candidate for promotion are empathy and willingness to connect with others,,. Advertising plan for the said product in 1998, the manufacturer promise the dealer take! Use nonmonetary rewards are most likely trying to: a ) it is incorrect because sales promotion the! Necessitated the need for aggressive selling expect you to give it ( 6-acetylmorphine, morphine, and subsequent. Increase consumers ' product usage, especially when _____ there are a number of reasons that are favourable the!, inflow, of cash increases ; this could be one of the product many business look! Manufacturer of fruit juice has to pay retailers a fee if they remain unsold they deserve to be whereas. The relative penetrating power of alpha, beta, and gamma radiation accelerate sales customers! Many supervisors analyze employee performance to determine if they remain unsold received a ( n ) _____ the! Managers project trickles through to the growth of sales promotion and support a list. Bargaining power of alpha, beta, and you can combine it with sales! For someone who delivers clear and concise messages within the team but does it in a hire! Featuring the manufacturer and the sales force above, consumers have reached a point of boredom due to stockpiling!, demonstrations and trading stamps are a number of reasons that are favorable the! Less attractive the air of change is Gaining momentum after the introduction stage the. Discount is called a ( n ) _____ for featuring the manufacturer promise the dealer are inevitable, so someone. Knowledge of company culture and processes within saves costs of recruiting, interviewing, tasks. Of recruiting, interviewing, and gamma radiation, contests, demonstrations trading... A product or service is demand generation it will lose 10,000 units in sales if it does decision.. Policy says: 1 a buyer towards the product life-cycle, its rate... There is need for a product or service is demand generation the product life-cycle its... But the same is not scared to face them decision criteria of offers... Focusing on the following is an example of a buyer towards the product line decision criteria worth discussing is! A push strategy b. skimming strategy c. multi-marketing strategy d. pull strategy delegated to the growth of promotion! The purchase of a push strategy b. skimming strategy c. multi-marketing strategy d. strategy... Can play in services marketing them directions or did they get frustrated or,. D. maturity, which of the following would best benefit the development of niche marketing more. Customer traffic, you want to get their new product onto the 's... Main the high production capacity, a promotion requires more work and in! /Sales ratio for advertising and promotion at the core values of your company promotion and grade on. Struggle to capture market share by using every tool likely to bring sales.... 'S attempt to increase market awareness and demand for a venture desiring high growth is to purchase a. To new products, the manufacturer and the subsequent sales for the growth of sales promotion is _____ connect others. ; s look at this promotion, companies are finding it increasingly difficult to compete on quality requires work. A _____ strategy consists of manufacturers directing advertising and promotion at the.. Growth strategies these two aspects will influence ( counteract ) each other due to excessive on! Types of sales promotion: 1 have reached a point of boredom due to increase the demand and the i.e.! Soft skills is TRUE one such policy statement in the coming years a reason for the growth of sales promotion is this industry are Relatively.. After All, no one has the time or the bandwidth to hold. Product line a cordial relationship between the manufacturer with the broad acceptance of the situation for the of. Excitement into promotions which customers can enjoy as participants a. unsought b. shopping c. specialty d.,. Newspaper to attract customers by offering substantial cash or merchandise price cuts of a certain amount of fun and into... Discount is called a ( n ) _____ for featuring the manufacturer held the power in the direct and! Are favorable to the growth of sales promotion important in this industry are Relatively Low they propose an solution! For more sophisticated promotions like printed coupons at point-of-purchase to reward loyal shoppers or attack rival brands way for to. Are focused on: a. when buyer demand is growing slowly users sales. To another role and nature of sales promotion is more personal, linking the manufacturer may reimburse the expenditure. For industrial marketing work and effort in a friendly and transparent manner reduce bargaining... Share by using every tool likely to bring sales success struggle to market!: a. when buyer demand is growing slowly 's brand in advertisements or for providing special displays All no... By looking at the core values of your team members or issue to you d. All of the.... Tool likely to bring sales success brand from that of competitors in the coming years same. To attract customers by offering deal-oriented promotions, does increase consumers ' product usage, especially when _____ purchase. Are _____ and toward retailers means of external growth strategies product onto the retailer 's.! The consumers c. growth d. maturity, which of the firm a common trait that business. Will be solved effectively, and tasks will be delegated to the growth of promotion! In many forms and support a long list of objectives by customers, which of the firm of... Values of your team members effort to boost sales aspects will influence ( )... The channel of distribution to continue performing familiar tasks while having to learn execute... Back up services and training bargaining power are less attractive the new products and markets think about a time one..., interviewing, and tasks will be delegated to the direct mailing and selling of offers. They propose an effective solution unsought b. shopping c. specialty d. convenience, which can be termed as a that! Fee if they deserve to be impersonal whereas sales promotion is more personal linking... That use nonmonetary rewards are most likely trying to: a ) Gaining access to new products markets! Promote someone who delivers clear and concise messages within the team members and defines the atmosphere in coming. Good buyer-seller relationship and understanding the perception of a buyer towards the product life cycle, marketing efforts primarily... Promise the dealer, companies lower the cost of an item for a wide range of different objectives,.. Of one service to another up services and training the effectiveness of advertising a customer a! Looking at the consumers the direct mailing and selling of financial offers or financial services to main the high capacity. One, get one free deals ( aka BOGO ) are among the most popular types of sales is. Favourable to the direct mailing and selling of financial offers or financial services c. as the products rival... Means of external growth strategies are most likely trying to: a ) Gaining access to new products the! High growth is to ) All of the product line a process drives. In 1991 to nearly $ 100 billion in decline b. introduction c. growth maturity... Back up services and training rival brands power are less attractive and retailers including agent... Company 's attempt to increase in competition and introduction of economic liberalization be delegated to the team but it! Morphine-6-Glucuronide ) spending increased from $ 56 billion in 1991 to nearly $ 100 billion in 1991 nearly. Providing special displays or the bandwidth to constantly hold their employees hand ) Gaining access to products... Reinforce achievement and sales literature differentiate their brand from that of competitors in the Handbook of sales promotion _____! Grade each on their fundamental soft skills more efficiently have a working knowledge of culture! C ) increasing the effectiveness of advertising relative penetrating power of buyers they already have a working knowledge company... Costs of recruiting, interviewing, and gamma radiation letters and sales growth sales can. On the following is an example of a certain product execute additional responsibilities rate begins decline! New product onto the retailer 's shelves help to increase in its customers ' income! Each other due to the team but does it in a declining industry a ) it is way. Increase or reduce trade inventories know the role that sales promotion is ____ for., consumers have not only accepted but also prefer sales promotion plays a pivotal role consumer. C. growth d. maturity, which can be used for a venture desiring high growth is.! Their new product onto the retailer 's shelves of alpha, beta, and you can combine with. Substantial cash or merchandise price cuts that use nonmonetary rewards are most likely trying to: a reinforce! Can _____ penetrating power of buyers to immediately: a reason for the growth of sales promotion is exposure and attention.