Sales Promotion Techniques
Sales Promotion Techniques
Mary McDonald
Marketing firms use several key sales promotion techniques directed towards trade and consumers. The different sale promotion techniques are discount and deals, increasing industry visibility Price-based consumer sales promotions and attention-getting consumer sales promotions. Each sale may be uses in different ways but they all have the same common goal to increase sales. Whether the technique increases the awareness of the item by advertising on the television or newspaper or put on discount inside the store, the goal is to increase sales. In 2008 the Coca-Cola Company earned a gross profit of 20,570 million dollars making it the number one soft-drink company in the world ( 2008 Year in Review , 2006-2009). The number one soft-drink company in the world stays number one by continuing to use numerous amount of sales promotion techniques. Coca-Cola Enterprises Inc., markets their products by using sale promotions to build interest in or encourage a purchase of a good or service. There are two different types of discounts and deal promotions; merchandising and case allowance (Solomon, Marshall, & Stuart, 2008). Discount and promotional deals such as My Coke Rewards offer free product and services by redeeming collected points. Retailers may stock large quantities at the discounted price during the promotions in the anticipation of the sale and the opportunity to take advantage of the sale. In this example, Coca-Cola increases sales by putting a code inside the packaging for consumers to redeem online. The more Coke products consumed the more points the consumer earns. The promotion is continuous by changing the themes and the rewards available keeping the consumers interested in redeeming points. This type of promotion will not be the most successful method for every company because retailers will purchase large quantities of the product during the promotional period and need to purchase any at regular
Mary McDonald
Marketing firms use several key sales promotion techniques directed towards trade and consumers. The different sale promotion techniques are discount and deals, increasing industry visibility Price-based consumer sales promotions and attention-getting consumer sales promotions. Each sale may be uses in different ways but they all have the same common goal to increase sales. Whether the technique increases the awareness of the item by advertising on the television or newspaper or put on discount inside the store, the goal is to increase sales. In 2008 the Coca-Cola Company earned a gross profit of 20,570 million dollars making it the number one soft-drink company in the world ( 2008 Year in Review , 2006-2009). The number one soft-drink company in the world stays number one by continuing to use numerous amount of sales promotion techniques. Coca-Cola Enterprises Inc., markets their products by using sale promotions to build interest in or encourage a purchase of a good or service. There are two different types of discounts and deal promotions; merchandising and case allowance (Solomon, Marshall, & Stuart, 2008). Discount and promotional deals such as My Coke Rewards offer free product and services by redeeming collected points. Retailers may stock large quantities at the discounted price during the promotions in the anticipation of the sale and the opportunity to take advantage of the sale. In this example, Coca-Cola increases sales by putting a code inside the packaging for consumers to redeem online. The more Coke products consumed the more points the consumer earns. The promotion is continuous by changing the themes and the rewards available keeping the consumers interested in redeeming points. This type of promotion will not be the most successful method for every company because retailers will purchase large quantities of the product during the promotional period and need to purchase any at regular
Cited: 2008 Year in Review . (2006-2009). Retrieved February 22, 2010, from The Coca-Cola Companu: http://www.thecoca-colacompany.com/ourcompany/ar/financialoverview.html Solomon, M. R., Marshall, W. G., & Stuart, E. W. (2008). Marketing: Real People, Real Choices. Prentice Hall.