Promotion and sales and marketing techniques

Promotion and gross gross revenue and trade techniquesPromotion and gross sales- The term Promotion and gross revenue be only interdependent on each different. Promotion is a communication link surrounded by buyers and sellers. It is a function of in solveing, persuading, and influencing a consumers corrupt decision. promotional activities include media advertize, direct mail, individualised marketing, sales functioningion and existence relations.A sale consists of marketing activities other than in the flesh(predicate) marketing, advertising and humankind relations that stimulate consumer purchase and head teacher effectiveness. gross sales promotion is a subset of promotion. In other words, sales promotion is non the same thing as promotion. Promotion is a much(prenominal) broader term.Promotion Mix- The Combination of promotional activities an institution uses is called promotion mingle .Integrated marketing communications (IMC)- Coordination of all promot ional activities to produce a unified, client-focused promotional message.Aim-The primary(prenominal) theatrical role of this denomination is to examine the role of Promotion and gross revenue and to find out market technique. In this assignment we be analyzing the future(a) techniques1. Traditional elements of the promotion mix.2. advertising media.3. Steps in Business to Business merchandising.4. Steps involved in setting up a ordinary relations programme5. promotional techniques used to tip over customers.Traditional elements of the promotion mixAdvertising individual(prenominal) Selling Sales Promotion ordinaryrelationsProductProductTraditional Promotional MixThe Promotional mix works like a subset of the marketing mix, with its intersection, distribution, promotion, and pricing elements. With the promotional mix, the marketers attempt to create an optimal blend of unlike elements to achieve promotional objectives. The promotional mix requires a c befully go throu ghing blend of variables to satisfy the needs of a comp whatevers customers and achieve organizational objectives.Promotional Mix Subset of the marketing mix in which marketers attempt to achieve the optimal blending of the elements of private and non personal selling to achieve promotional objectives.I. Personal Selling - is the oldest form of promotion. It is conducted on a person-to-person basis with the buyer. It involves the lookup for new prospects and follow up work after the sale. It is mainly nerve to face presentation and promotions of goods and services. Its more perfectly depict today as helping others satisfy their wants and needs. This direct form of promotion may be conducteda. Face-to-faceb. Telephonec. Videoconferencingd . Interactive computer links between buyer and sellerBenefits of Personal Selling - The benefit of personal selling is that there is a person there to help you complete a trans execution. The sales person should see to your needs, help you reach a termination and do all that is executable to make accomplishing that solution smoother and easier.2. Non-personal Sellinga. Advertising- is any paid, non personal communication through divers(a) media some a task firm, non-for-profit organization, yield, or idea by a suspensorIdentified in a message that is intended to depose or persuade members of aparticular audience.Advertising primarily involves the good deal media, such(prenominal)(prenominal) as newspapers, television, radio, magazines, and billboards, but also includes electronic and computerized forms of promotion such as Web commercials, CDs and DVDs, and video screens in supermarkets.b. Product Placement- a form of non personal selling in which the marketer pays a motion forecast or television program owner a fee to endanger his increase prominently in the film or show.Through their product gets so much popularity and they get the benefit from this.So this type of non personal selling is very good for their product placement.C. Sales Promotion- consists of marketing activities other than personal selling, advertising and public relations that stimulate consumer purchasing and dealer effectiveness.Sales promotion is a subset of promotion. In other words, sales promotion is not the same thing as promotion. Promotion is a much broader term.Sales promotion yields a short-term incentive, commonly in combination with other f forms of promotion, to emphasize, assist supplement, or otherwise hold up the objectives of the promotional program. For example, Restaurants, including fast food establishments, often place certain items on the menu at a lower price for a hold time only. Movie promotional tie-ins ar a classic example. Movies are tied into food, drinks and restaurants.Sales promotion includes the following activities 1) Displays, 2) trade shows, 3) coupons, 4) contests, 5) samples, 6) premiums, and 7) product demonstrations.Sales Promotion can be achieved both internally ( wit h in the company) and externally (outside the company) frequent Relations and forwarding- creation relations bear upon to a firms communications and relationships with its confused publics. These publics include customers, suppliers, stockholders, employees, the government, the general public, and the society in which the organization operates. It is the focussing function that evaluates public positionings and procedures in result to public request.Publicity is the marketing-oriented aspect of public relations. It can be defined as non personal stimulation of invite for a good, service, person, cause, or organization through amateur placement of remarkable news about it in a print medium or through a favorable presentation of it on the radio, television, or stage. Of course, risky publicity can damage a companys spirit and diminish shuffling equity.Public Relations has three steps- mind to the publicChange Policies and proceduresInform people that youre being respons ive to their needs. equivalence of the Four Promotional Mix ElementsPersonalSellingAdvertisingSales PromotionPublic RelationsAdvantagesPermits measurement of effectivenessElicits an immediate responseTailors the message to fit the customerReaches a huge group of dominance consumers for a relatively low price per exposureAllows stringent inhibit over the final messageCan be adapted to all mass audiences or specific audience segmentsProduces an immediate consumer responseAttracts fear and creates product awarenessAllows easy measurement of resultsProvides short-term sales increasesCreates a positive attitude toward a product or companyEnhancesbeliev force of a product or companyDisadvantagesRelies almost exclusively upon the ability of the salespersonInvolves high cost per contactDoes not brook totally accurate measurement of resultsUsually cannot well-nigh salesAdvertising mediaAdvertising is a form of communication intended to persuade an audience (viewers, readers or liste ners) to purchase or take some action upon products, ideals, or services. It includes the promise of a product or service and how that product or service could benefit the consumer, to persuade a target market to purchase or to consume that particular smirch. These brands are usually paid for or place through sponsors and viewed via various media.It is any paid, non personal communication through various mediaabout a telephone circuit firm, not-for-profit organization, product, or idea by a sponsorIdentified in a message that is intended to inform or persuade members of aparticular audience.Advertising primarily involves the mass media, such as newspapers, television, radio, magazines, and billboards, but also includes electronic and computerized forms of promotion such as Web commercials, CDs and DVDs, and video screens in supermarkets.Various types of Advertising media1 Newspapers2 Television3 Radio4 Magazines5 open6 Direct mail7 InternetThe above described media are classif ied according as retail advertising, trade advertising, business to business advertising ,institutional advertising, product advertising ,comparison and online advertising.Advantages of Advertising mediaIt reaches a large group of effectivenessity consumers for a relatively low price per exposure.Allows strict control over the final message.Can be adapted to either mass audiences or specific audience segments.Disadvantages of Advertising mediaDoes not permit totally accurate measurement of resultsUsually cannot close sales.Global advertisingAdvertising has gone through five major stages of maturation domestic, export, international, multi-national, and worldwide. For globose advertisers, there are four, potentially competing, business objectives that must be equilibrate when developing worldwide advertising building a brand magical spell speaking with one voice, developing economies of surpass in the originative process, maximise local effectiveness of ads, and increasing the companys speed of implementation. Born from the evolutionary stages of global marketing are the three primary and fundamentally different approaches to the development of global advertising executions exporting executions, producing local executions, and importing ideas that travel.24Advertising search is key to determining the success of an ad in any body politic or region. The ability to identify which elements and/or moments of an ad that contributes to its success is how economies of scale are maximized. Once one knows what works in an ad, that idea or ideas can be imported by any other market. grocery research measures, such as Flow of Attention, Flow of Emotion and brand moments provide insight into what is working in an ad in any country or region because the measures are based on the visual, not verbal, elements of the ad.Steps in business to business SellingIn business to business-selling, it is critical for the sales person to known the product well to know how the product compares to competitors s products. Such product knowledge is needed beforehand the salesperson begin the selling process.Example of this is customer relationship management software product (CRM).It is useful for establishing long term relationships with customers imagining you are a software sales person showing business user the advantages of various programs .It consists of fit and QualityPre approachApproachMake PresentationAnswer Objectives next SaleFollow up1.Prospect and QualityThe first step is of prospecting. Prospecting involves researching potential buyers and choosing those most likely to buy. That selection process is called qualifying. To qualify people direction to make sure that they have need for product, the authority to buy and the willingness to listen to a sales message. A person who meets these criteria is called a prospect.2.Pre approachIn this approach you must learn as much as possible about customers and their wants and needs. In this gathering the information before you approach the customer is critical. As we said an example of CRM selling you would know which people are likely to buy or use it.ApproachIn this the main idea is to give an impression of friendly professionalism, to create rapport,, to build credibility, and to put down a relationship. Often the decision of whether to use a software package depends on reliable service from the salesperson.Make PresentationIn the literal presentation of the CRM software, the idea is to match the benefits of your value package to the clients needs. Various companies provide sales proposal software that include everything from power point presentations to agonistic analysis. During the presentation is a great time to use testimonal toShow potential buyers that they are joining leaders in others firms in trying this software.5 Answer ObjectionsYou should anticipate any objections the prospect may raise and line up proper responses. Think of questions as opportunities for c reating better relationships, not as challenges to what youre saying. Customers may have legimate doubts and you are there to resolve those doubts. Relationships are based on trust, and trust comes from successfully and honestly working with others. it.Close SaleAs a salesperson, you have limited time and cant spend eternally with one potential customer answering questions and objectives. A trial close consist of a question or severalisement that moves the selling process towards the actual close.As you can see, salespeople must learn to close umpteen times before a long termRelationship is established. or relationships, not as challenges to what youre saying. Customers may have legimates doubts and you are7.Follow UpThe selling process isnt over until the order is approved and the customers is happy. The sales relationship may continue for years as you respond to new request for information. salesperson realy needs to be providers of solutions to their customers and also needs t o think about supervene after the sale. The follow up step includes handling customers complaints ,making sure the customers questions are answered and quickly supplying what the customers wants.Steps involved in setting up a public relations programmePublic relations refer to a firms communications and relationships with its various publics. These publics include customers, suppliers, stockholders, employees, the government, the general public, and the society in which the organization operates. It is the management function that evaluates public attitudes and procedures in response to public request.Public relation is defined as the management function that evaluates public attitudes ,request and procedures in response to the public s request, and executes a program of action and information to earn public sympathyAnd acceptance.Publicity is the marketing-oriented aspect of public relations. It can be defined as non personal stimulation of demand for a good, service, person, caus e, or organization through unpaid placement of significant news about it in a published medium or through a favorable presentation of it on the radio, television, or stage. Of course, bad publicity can damage a companys reputation and diminish brand equity.Public Relations has three steps-Listen to the public Public relation start with good marketing research.Change Policies and procedures Businesses dont earn understanding by bombarding the public with propaganda, they earn understanding by having programs and policies and practices in their public interest .Inform people that youre being responsive to their needs Its not enough to simply have programs in the public interest. You have to assort the public about those programs so that they know youre being responsive Public relations has more power to influence consumers because the message comes from source that is perceive as being more trustworthy.Advantages of PublicityCreates a positive attitude toward a product or companyEn hances credibility of a product or companyDisadvantages of PublicityMay not permit accurate measurement of effect on salesInvolves much effort tell toward non-marketing-oriented goals5.Promotional techniques used to reach customersThere are several Promotional techniques that supercharge/stimulate customers to patronize a specific retail store or to try a specific product. These promotional techniques give various benefits/bonuses to customers and these are mainly classified as1.CouponsThis is the most common technique which usually reduce the purchase price or offered as cash. Need to state the offer clearly and make it easy to recognize.2. HandoutAwash in CouponsLooks at the flock of coupons (323 bn) and the miserable redemption rate (less than 3%). Looks at more ripe media to deliver coupons (currently over 80% are delivered via the Sunday paper).in store by the products, as customers exit the store based on purchasesdiscussed delivering coupons to customers as they enter th e store, using a card that swipes to indicate past purchases. Past acquire behavior is the best predictor of future buying patternsUsers only write coupons they would ordinarily purchase. 75% of the coupons are redeemed by consumers who would buy the brand already..3 DemonstrationsExcellent attention getters. Labor costs are usually high.4. Frequent User IncentivesMajor airlines, helps value customer loyalty to a specific company. Credit card companies. Trading stamps-Co-ops back in England, foster retail loyalty.5. Point of Purchase DisplayOutside signs, window displays, reproduction pieces, display racks. 90% of retailers believe that point of purchase materials sell products. necessary for product introductions. Also with 2/3 of purchasing decisions made in the store, they are important.6. Free SamplesStimulate trial of product. Increase sales the great unwashed at the early stage of the product life cycle and chance desirable distribution .Most expensive sales promotion te chnique. Not steal for mature products and slow turnover products.7. Money Refunds/RebatesSubmit proof of purchase and mail specific refund, usually need multiple purchase for refund. Helps call down trial use, due to the complexity of the refund, it has little impact. Customers have a poor perception of rebate offered products. Used extensively in the Auto and electronic computer industry.8. Premium ItemsOffered free or at minimum cost as a bonus. Used to attract competitors customers,different sizes of established products. McDonalds Last summer the following tie-in premium programs.Casper with Pepsi, Pizza Hut, Choice HotelsCongo with Taco chimeBatman Forever with McDonalds, Kelloggs , Six Flags, SearsPocahontas with Chrysler, Nestle, General Mills, Burger KingMighty Morphin with McDonaldsCents-off Offer vigorous incentive for trying a product-very similar to coupons, but are a part of the package.Consumer Contests and SweepstakesConsumers compete based on their analytical or creative skills. Must be accurate or you will anger customers/retailers.Sweepstakes are prohibited in some states.ConclusionFrom the above discussion of various Promotion and sales technique we conclude that promotion with advertising is a part of total system approach that lead to maketing principles. Promotion and sales are interdependent on each other. It helps to increase demand for the product with a view to increase the companys sale and profit.