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Sales Promotion

Sales Promotion  Assignment / Homework Help
Sales promotion is any scheme or proposal undertaken by a firm to promote sales of its products. There are various kinds of sales promoting techniques. They are usually creative and unique. Some of the accepted examples of sales promoting activities are:

  • Buy-one-get-one-free (BOGOF)
    Initially BOGOF was used for end of season stock clearance at shops that were left with large volume of stock which they wanted to dispose quickly. It is argued that the price is not actually halved in this offer. For instance buy one shirt and get one free is not selling two shirts at the price of one. The price of one shirt is typically raised when used as a part of buy one get one offer. Cost of one shirt would be cheaper if bought on its own.

  • Customer Relationship Management (CRM)
    CRM is a method used to learn about customer behavior and their needs. The focus is on building strong customer relationship. Almost every company is using customer information in managing relationship with them. Loyalty program is one such initiative. The airline industry puts loyalty programs in use brilliantly. Even before the CRM theory was evolved the American airline industry introduced loyalty cards. With the launch of American Airlines' Advantage Program in 1981 the term frequent flier was coined and thus began a new era in loyalty marketing. Fliers who would cross a certain flight miles were rewarded. The fundamental rules of CRM are:
    • Collect individual customer information
    • Find out what each customer is worth
    • Treat different customers differently

    For instance a flier who completes five million miles with American airlines gets the privilege of boarding the flight early. He receives surprise gifts like interesting books, ice-cream toppings etc.

  • Mobiles and internet
    Sales promotion can be done through mobiles and web sites. For instance Pepsi cans have unique codes on them. Customers have to SMS this code to know if they have won a free gift

  • Free gifts
    Free gifts are given on the sale of a product. The customer buys the product lured by the offer.

  • Price discounts are given for the same effect.

  • Joint promotions
    Fast food companies like Mc Donald's often gives away toys and other merchandise relating to a movie with purchase of a promotional meal.

  • Free Sampling
    Sample of a product is offered for free specially of food and drink at sampling points like super markets.

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