Sales Promotion
Employing methods to stimulate sales through immediate or delayed incentives to the customer.
If the incentive is attractive, the price: value ratio is adjusted favourably enough to affect a sale. This strategy should integrate with the overall marketing mix to balance extra sales with long-term profit motives. Examples of sales promotion strategies are:
Sampling - offering product samples, electronically.
Bonus offers - offering additional goods or services when making single purchases (e.g. buy-one-get-one-free).
Limited time offers - attracting visitors to return to a Web site.
Games with prizes: Useful to keep people coming back to Web sites.
Cross-product sampling: When a customer makes a purchase they have an opportunity to try out another company’s product/service. Also, the customer may have the opportunity to try out more than one company’s product/service while testing another. Useful for complementary products/services.
Feature pricing: providing special pricing to those that order electronically.
Cross-promotions with other companies’ products/services - Buy a company’s product/service and get a coupon for another company’s product/service.
Employing methods to stimulate sales through immediate or delayed incentives to the customer.
If the incentive is attractive, the price: value ratio is adjusted favourably enough to affect a sale. This strategy should integrate with the overall marketing mix to balance extra sales with long-term profit motives. Examples of sales promotion strategies are:
Sampling - offering product samples, electronically.
Bonus offers - offering additional goods or services when making single purchases (e.g. buy-one-get-one-free).
Limited time offers - attracting visitors to return to a Web site.
Games with prizes: Useful to keep people coming back to Web sites.
Cross-product sampling: When a customer makes a purchase they have an opportunity to try out another company’s product/service. Also, the customer may have the opportunity to try out more than one company’s product/service while testing another. Useful for complementary products/services.
Feature pricing: providing special pricing to those that order electronically.
Cross-promotions with other companies’ products/services - Buy a company’s product/service and get a coupon for another company’s product/service.