Sales Promotion in Marketing Management from HelpwithAssignment.com
The term Sales Promotion means an action which increases the capacity of sales. In words of Bonne, E Louis and Kurtz, L. David, “it applies to assorted and non recurrent and somewhat extraordinary non-personal selling efforts”. Several authors have defined Sales Promotion as a non-personal selling and it is also known non-recurring promotional efforts.
Related Objectives of Sales Promotion:
It is a manager’s responsibility to specify the required promotion objectives and policies. Though Sales Promotion and marketing objectives maintain similar consistent levels, they may vary with the type of target market and points of channel.
· Objectives for Retailers: Retailers carry new items, they encourage off season buying, offset competitive promotions also they build brand loyalties and many more.
· Objectives for Sales Force: To encourage a new, product or model to stimulate off-season sales and so on.
· Objectives of Consumers: To encourage more usage and purchase of larger units and also to attract competitors brand users.
Fundamental Objectives of Sales Promotion:
1) To Inform: Informing is letting know to the customers about the new product that is being offered by the producer. Producers should always be able to assure that the new product works better than all the similar present products.
2) To Persuade: Generally Sales persons persuade or convince customers to buy their products. They develop an affirmative set of approach and influence their buying behavior. To attract consumers, the sales persons supply comparative information on various products.
3) To Remind: Reminding the first place of the firms to reinforce the previous satisfactory behavior of the customers. It is always a good way by reminding the customers of their past satisfaction will convince them to stay with their product and keep them from shifting to competitors.
Importance of Sales Promotion:
Sales Promotion is consistently accepted as an effective sales Promotion tool. Internal and external factors play a crucial role in the process of Sales Promotion to be successful. While other promotional sources such as, media are costly and not very effective. Sales Promotion as mass advertising idea has to carry the whole promotional load. In case of personal selling capacity is limited. Sales Promotion has a great chance in acceptability of the products by the customers. This stimulates the primary demand for the company’s product. Mass Sales Promotion can convince the customers easily to purchase goods and services. Sales Promotion is an important tool in developing product symbolization. This may create awareness, interest and adoption of the new product to the customers as, it provides an opportunity for evaluation, trail and confirmation of brand loyalty.
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