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? Sales Promotion is a marketing discipline that utilizes a variety of incentives techniques to structure sales related programs targeted to consumers/trade/ and or sales level, that generate a specific measurable action or response for a product/ service. corporate-reward . ____ 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. Often, the better alternative is to promote your next leader from within your company. This is an example of a _____ strategy. This may induce dealers to buy products introduced by the manufacturer. C) market segmentation. How should trade promotions be structured to maximiz, A low-cost leader can translate its low-cost advantage over rivals to superior profit performance by: A. underpricing rivals and attracting quality-sensitive buyers in great enough numbers B. maintaining the present price, and using the lower-cost edge to, Which of the following is an advantage offered by co-branding? The more quantity of the product you buy, the more is the discount. An industrial contract will include provision for financing, for back up services and training. Would you characterize the rivalry and jockeying for better market position, increased sales, and market share among the companies in your industry as fierce, very strong, strong, moderate, or relativ, Which of the following is a reason why brands matter to manufacturers? This aspect of the job drives employees the mostthe ultimate reward for dedication and loyalty towards an organization. Sales promotion can help to expand distribution. A sales promotion is a temporary incentive to purchase a product. Sales promotion represents a variety of techniques used to stimulate the purchase of a product or brand. Learn about sales promotion definition in marketing and understand how it works. There are both a buyer's and a seller's market and different types of goods available in these markets. e. competitors, retailers, The manager of a chain of fast-food restaurants has noticed that the number of breakfast customers has fallen by 50 percent in the last 6 months. As a rule, companies use sales promotions within a limited period via various channels - social media, email campaigns, websites, etc. The relative penetrating power of alpha, beta, and gamma radiation. Thus, now you know the role and nature of sales promotion. This is an example of a(n) _____ allowance. All rights reserved. Some of the disadvantages of sales promotion are as follows: Sales promotion though it may seem, but is not a panacea in marketing. Attractive sales promotion can help customers to find the best reasons to buy a product. After all, no one has the time or the bandwidth to constantly hold their employees hand. Most brands are being perceived by consumers to be more or less similar within a given price range because of the inability of manufacturers to develop truly differentiated products. CatGenie quickly develops a special price-off deal to prevent the competitor from stealing market share. Content Filtrations 6. stimulate demand and encourage purchases. Which of the following is a form of trade allowance? Succession planning prepares future leaders and saves your company time and money when transition occurs. The growth of huge supermarkets necessitated the need for aggressive selling. If the gross margin is $40 per unit, does cutting the promotion budget make sense, Brand managers know that increasing promotional budgets eventually result in diminishing returns. d. An increase in i, A ______ is when manufacturers direct their promotional efforts toward channel partners to convince them to order and stock products. decreased brand parity and price sensitivity, d. retailers, consumers, and the sales force. a. undermining competitive competencies b. building customer loyalty c. milking the market for product desires d. renewing a customer ba, Trade Promotions: Why do manufacturers such as Kraft and Sara Lee offer trade promotions? i. The dealer also informs the manufacturer about consumers demand pattern, their likes and dislikes, tastes and preferences, complaints and criticisms, substitute goods, competitive products and so on. A reason for the growth of sales promotion is _____. 6. Did the retail alterations take place in-store, online, or both, and why was this important? Development of customer relationship understanding. You might use them to attract new customers, boost retention rates, offload inventory, or deepen your relationship with existing clients. 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 . Price-sensitivity of the consumers. emphasis on short-term results in corporate-reward structures. Trading stamps are a special type of premium received by customers, which can be redeemed for merchandise through stamp redemption. These kinds pf incentives inspire the dealers to stock and sell goods more vigorously and enthusiastically. 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. In fact, the failure rate for an internal promotion is higher than one might think. A reason for the growth of sales promotion is ____. In many product categories, there is a proliferation of brands; many of them are line extensions and me-too brands. The four main tools of promotion are advertising, sales promotion, public relation and direct marketing. 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. b. What is the difference between the "old" and "new" accounting procedures with respect to promotion? c. increase customer loyalty and brand value of a product. C. as the products of rival sellers become more strongly differentiated. Its hard to justify promotion when the employee doesnt want it in the first place . d. Develop and sell quality appliances wor, The distribution of ____ products tends to be highly selective, and both producers and retailers are apt to promote them to a highly targeted audience. Offer real value. a. decline b. introduction c. growth d. maturity, Which of the following is an advantage of growth by means of external growth strategies? Advertising expenditures as a percentage of total marketing communications expenditures are approximately _____ percent. c. increased brand loyalty. Old stocks and old models are also taken back by the manufacturers. (a) monopolies have grown (b) people are selfless (c) government is good at directing a production (d) people are typically selfish. As a result, they enter a precarious short-term marketing cycle and struggle to plan for long-term goals and growth. "Free gift with purchase" promotion. b. allow a manufacturer to lower the price of the product. C) skimming. Which of the following is a factor accounting for the shift from consumer advertising to promotion? The most common users of sales promotion are _____. 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. While sales promotion has been part of the marketing process for a long time, its role and importance in a company's integrated marketing communications program have increased dramatically over the past decade. Buy one, get one free deals (aka BOGO) are among the most popular types of sales promotions. iii. The result will be an increase in traffic and sales, and therefore a likely increase in revenue as well. There are a number of reasons that are favourable to the growth of sales promotion: Increasing Competition The air of change is gaining momentum after the introduction of economic liberalisation.Due to increase in competition, companies are finding it increasingly difficult to compete on quality. ii. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Increasing Competition. An increase in its customers' disposable income. 2. Sales promotion has grown substantially in recent years. Which of the followin, A manufacturer wants to increase purchase rates of his product and reward those customers who make multiple purchases. Take the "sales promotion trap" as an example. Sales Promotion Strategies Target Consumer, Trade, and The Sales Force. Demonstrations are conducted to inform the public or consumers in the target market about the attributes and utilities of the product. If someone genuinely wants to become a manager, they will demonstrate that they are willing to take up new responsibilities. A) differentiation B) turnaround C) innovation D) lowest cost, 1.What are the factors affecting the intensity of rivalry in the industry in which your company is competing? Sometimes, it prepares the ground for the salesmen to meet the prospects by sending them circular letters and sales literature. Product managers are also using sales promotion as a tool to differentiate their brand from that of competitors in the short term. c. retailers, consumers, and manufacturers. 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. The Growth of Sales Promotion. A critical marketing task for a venture desiring high growth is to . A. The reason is that the manufacturer has to sell an extraordinarily high number of cases at the discounted price to cover the normal base sales that would have taken place without the promotion. Being a self-starter is advantageous since a lot of jobs require some level of personal responsibility. b. reduce price below cost to deter entry. B) the brand name recognition and appeal. In case of bulky and costly goods which cannot be displayed physically, display materials, posters, show cards act as promotion materials. B. as it becomes more costly for buyers to switch brands. Ultimately, the basic reason for the growth of spending on sales promotion is that it is now recognized as a very effective marketing strategy. a. retailers, consumers, and the sales force b. The following are some of them. C. Healthier profit margins than in a mass-market segment. Promotion refers to any incentive used by a _____ to induce the trade. Which of the following is an example of a push strategy? The sales promotion department is responsible for maintaining such a cordial relationship with dealers so that the goods move quickly along the channel of distribution. 6 types of sales promotions. 1. Sales promotion can obtain feature pricing, displays, and other dealer in-store support, ii. 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 How should edible insect companies incorporate sustainability in their consumer promotions, The rivalry among competing firms tends to be more intense: 1) when demand for the product is growing slowly, buyers have low switching costs, and the actions of any one company to attract more customers and boost market share have strong direct impact o, Which of the following is a valid reason or strong signal that a company should consider changing from a low-cost / low-price strategy for branded footwear to a different strategy? Sales promotion can obtain trial of the product: Innovate or Die nowadays may be the slogan for many companies, especially in food and health industry. Which of the following is FALSE regarding trade allowances? Sales promotion increases demand. stores, b. Outside hires typically require higher salaries. c. control prices. d. increased media effectiveness. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide). Before publishing your articles on this site, please read the following pages: 1. Self-starters make great managers. b. Industries where buyers have higher bargaining power are less attractive. 5. Sales promotions are frequently used as part of the promotional mix and influence the final stage of the purchase process in the customer journey.
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