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Table of Contents General understanding of Sales Promotion 1.1 Sales Promotion definition 1.2 The impacts of Sales Promotion 1.3 Sales Promotion objectives 1.4 Sales Promotion tools 1.4.1 Major Consumer-Promotion Tools 1.4.2 Major Trade-Promotion Tools .11 1.4.3 Major Business Promotion Tools 12 1.5 Major Decisions in Sales Promotion 12 5.1.1 Establishing Objectives 13 5.1.2 Selecting Consumer-Promotion Tools 14 5.1.3 Selecting Trade-Promotion Tools 14 5.1.4 Selecting business promotion tools .14 5.1.5 Developing the program 14 5.1.6 Pretesting the program 15 5.1.7 Implementing the program 15 5.1.8 Evaluating results 16 General understanding of Supermarket 17 2.1 Definition of Retailing, Retailer and Supermarket 17 2.2 Features of Supermarket 18 List of images, diagrams, graphs or tables Figure 1: The Four Ps of the Marketing Mix .5 Figure 2: Sales promotion objectives Figure 3: Major Decisions in Sales Promotion 13 Figure 1: Supermarket Business Model .16 General understanding of Sales Promotion 1.1 Sales Promotion definition Before defining exactly what Sale Promotion is, meaning of marketing, marketing mix, and promotion Mix are to be clarified briefly as follows: Firstly, regarding “Marketing”, this concept nowadays must be understood not in the old sense of making a sale - “telling and selling” - but in the new sense of satisfying customer needs If the marketer understands consumer needs; develops products that provide superior customer value; and prices, distributes, and promotes them effectively, these products will sell easily According to Peter Drucker, “The aim of marketing is to make selling unnecessary” (Kotler and Armstrong, 2012) The second concept is the Marketing mix, which is the set of marketing tools – often summarized as the ‘four Ps’: the product, its price, promotion and place – that the firm uses to achieve its objectives in its target market (McCarthy, 2001)2 The key elements in the Marketing Mix are shown in Figure 1.1 Kotler, P and Armstrong, G (2012) Principal of Marketing 14th ed USA: Pearson Education, p.5 McCarthy, E J (2001) Basic Marketing: A Managerial Approach 13th ed Irwin: Homewood Promotion Advertising Personal selling Sales promotion Public relations Product Variety Quality Design Features Brand name Packaging Services Target Market Place Channels Coverage Locations Inventory Transportation Logistics Price List price Discounts Allowances Payment period Credit terms Figure 1: The Four Ps of the Marketing Mix (Source: The Marketing book, 2003) The “Promotion” in the ‘Four Ps’ of Marketing Mix is exactly called Promotion Mix (or Marketing Communications Mix), which consists of the specific blend of advertising, public relations, personal selling, sales promotion, and direct-marketing tools that the company uses to persuasively communicate customer value and build customer relationships (Kotler, P and Armstrong, G., 2012)3 Therefore, Sales Promotion is only a part of a large “Marketing Mix” Here, three different definitions of Sales Promotions are to be mentioned as below: Kotler, P and Armstrong, G (2012) Principal of Marketing 14th ed USA: Pearson Education, p.408 “Sales promotion consists of short-term incentives to encourage the purchase or sales of a product or service” (Kotler, 2012)4 “Sales promotion consists of a diverse collection of incentive tools, mostly short term, designed to stimulate trial, or quicker or greater purchase, of particular products or services by consumers or the trade.” (Kotler, P and Armstrong, G., 2012) “Sales Promotion is marketing activities usually specific to a time period, place or customer group, which encourage a direct response from consumers or marketing intermediaries, through the offer of additional benefits.”( J Baker, 2003) The first two definitions are quite the same; the second one can be considered as a detailed of the first definition It can be seen that whereas advertising offers a reason to buy, sales promotion offers an incentive to buy Regarding the third one, the propose of Sale Promotion is more extended, which is “encourage a direct response from consumers or marketing intermediaries, through the offer of additional benefits”, not “just encourage the purchase or sales of a product or services” However, the inconsistencies among definitions can be acceptable in the vocabulary of marketing The third definition are composed of three key elements: Non-standard: Promotions are usually temporary, and may be limited to certain customer groups or specific to a particular distribution channel Response orientated: Promotions seek a direct response from customers, or those who deal with customers on the producer’s behalf Benefit orientated: Promotions offer their targets additional benefits, beyond the ‘standard’ marketing mix The enhanced mix could include extra product, a reduced price or an added item, service or opportunity Sales-promotion tools are used by most organizations, including manufacturers, distributors, retailers, trade associations, and nonprofit organizations Sales-promotion expenditures have been increasing as a percentage of budget expenditure annually for the last two decades due to several factors Internal factors include the following: Promotion is now more accepted by top management as an effective sales tool; more Kotler, P and Armstrong, G (2012) Principal of Marketing 14th ed USA: Pearson Education, p.481 Kotler, P (2002) Marketing Management Millenium Edition 10th ed USA: Pearson Education, p.288 J Baker, M (2003) The Marketing book 5th ed Great Britain: Butterworth-Heinemann, p.458 product managers are qualified to use sales-promotion tools; and product managers are under greater pressure to increase current sales External factors include the following: The number of brands has increased; competitors use promotions frequently; many brands are seen as similar; consumers are more price-oriented; the trade has demanded more deals from manufacturers; and advertising efficiency has declined because of rising costs, media clutter, and legal restraints Incentive-type promotions attract new triers, to reward loyal customers, and to increase the repurchase rates of occasional users 1.2 The impacts of Sales Promotion Sales Promotion has many impacts on manufacturers, customers and retailer, which are both positive impact and negative impacts: Sales Promotions attract the brand switchers, who are primarily looking for low price, good value, or premiums, so sales promotions are unlikely to turn them into loyal users Sales Promotions used in markets of high brand similarity produce a high sales response in the short run but little permanent gain in market share In markets of high brand dissimilarity, however, it can alter market shares permanently Using Sales Promotion may decrease brand loyalty, increase consumer price sensitivity, brand-quality-image dilution, and focus on short-run marketing planning When a brand is price promoted too often, the consumer begins to devalue it and buy it mainly when it goes on sale Sales Promotion enables manufacturers to adjust to short-term variations in supply and demand, test how high a list price they can charge It permits manufacturers to sell more than they would normally sell at the list price It helps the manufacturer adapt programs to different consumer segments Smallshare competitors find it advantageous to use Sales Promotion Sale Promotion induces consumers to try new products instead of never straying from current ones It leads to more varied retail formats, such as the everyday-low-price store and the promotional-pricing store and promote greater consumer awareness of prices Consumers themselves enjoy some satisfaction from being smart shoppers when taking advantage of price specials 1.3 Sales Promotion objectives Sale promotions are targeted toward final buyers (consumer promotions), retailers and wholesalers (trade promotions), business customers (business promotions) as in Figure 1.3.1 Consumer-Promotion Trade-Promotion BusinessPromotion objectives objectives objectives Urge/boostshort-term Persuaderesellerstocarry Generatebusinessleads, customerbuyingor abrand,giveitshelf enhancecustomerbrand space,promoteitin stimulatepurchases, rewardcustomers,and involvementorenhance advertising,andpushitto motivatesalespeople long-termcustomer consumers relationships Figure 2: Sales promotion objectives (Source: Kotler, 2002) In general, rather than creating only short-term sales or temporary brand switching, sales promotions should help to reinforce the product’s position and build long-term customer relationships If properly designed, every sales promotion tool has the potential to build both short-term excitement and long-term consumer relation 1.4 Sales Promotion tools Many tools can be used to accomplish sales promotion objectives The differences of promotional tools vary in terms of: Their objectives/target: Customer objectives, business objectives, or trade objectives Type of benefits offered: Value-increasing and value-adding promotions Value-increasing promotions alter the product/price equation by increasing the product quantity or quality, or decreasing its price Value-adding promotions leave the basic product and price intact, and offer something different in terms of premiums, information or opportunities Product/market suitability: Sales promotions vary in types of products, in their popularity and suitability internationally between countries Consumer appeal: Different types of promotion appeal to different people Age, sex, nationality, socio-economic grouping and ethnic origin can all influence which promotions customers prefer Marketing capabilities: Free samples are obviously useful for encouraging product trial, while a prize draw can provide a mailing list for future promotions Implementation priorities: While printing security is important for game cards, accurate redemption forecasting is vital for coupons and giveaways, and anticipating competitor reaction is important in price promotions There are many ways of classifying sales promotion tools In this thesis, they are classified in term of objectives (customer, trade, business) as follows: 1.4.1 Major Consumer-Promotion Tools Samples: are offers of a trial amount of a product or service Sampling is the most effective but most expensive way to introduce a new product or create new excitement for an existing one Some samples are free; for others, the company charges a small amount to offset its cost The sample might be sent by mail, handed out in a store or at a kiosk, attached to another product, or featured in an ad or an e-mail Sometimes, samples are combined into sample packs, which can then be used to promote other products and services Sampling can be a powerful promotional tool Coupons are certificates offering a stated saving on the purchase of a specific product Most consumers love coupons Coupons can promote early trial of a new brand or stimulate sales of a mature brand However, as a result of coupon clutter, redemption rates have been declining in recent years Thus, most major consumer goods companies are issuing fewer coupons and targeting them more carefully Marketers are also cultivating new outlets for distributing coupons, such as supermarket shelf dispensers, electronic point-of-sale coupon printers, and online and mobile coupon programs Cash Refund Offers (or rebates): provide a price reduction after purchase Consumer shows a specified “proof of purchase” to the manufacturer who then “refunds” part of the purchase price Rebates are like coupons except that the price reduction occurs after the purchase rather than at the retail outlet Price Packs (also called cents-off deals): are promoted on the package or label which offer savings off the product’s regular price Therefore, consumers can save off the regular price of a product Price packs can be single packages sold at a reduced price (such as two for the price of one) or two related products banded together (such as a toothbrush and toothpaste) Price packs are very effective—even more so than coupons—in stimulating short-term sales Premiums (gifts) are goods: offered at low or no cost as an incentive to buy a particular product A premium may come inside the package (in-pack), outside the package (on-pack), or through the mail Prizes (contests, sweepstakes, games): offer consumers the chance to win cash, trips, or merchandise as a result of purchasing something A contest calls for consumers to submit an entry - a jingle, guess, suggestion - to be examined by judges who will select the best entries A sweepstakes asks consumers to submit their names for a drawing A game presents consumers with something every time they buy—bingo numbers, missing letters—that might help them win a prize Such promotions can create considerable brand attention and consumer involvement Patronage Awards: Values in cash or points given to reward patronage of a certain seller Free Trials: Inviting prospects to try the product free in the hope that they will buy the product Product Warranties: Explicit or implicit promises by sellers that the product will perform as specified or that the seller will fix it or refund the customer’s money during a specified period Tie-in Promotions: Two or more brands or companies team up on coupons, refunds, and contests to increase pulling power Cross-Promotions: Using one brand to advertise another noncompeting brand Point-of-Purchase (POP) includes displays and demonstrations that take place at the point of purchase or sale Customers trip over aisle displays, promotional signs, “shelf talkers,” or demonstrators offering free tastes of featured food products Unfortunately, many retailers not like to handle the hundreds of displays, signs, and posters they receive from manufacturers each year Manufacturers have responded by offering better POP materials, offering to set them up, and tying them in with television, print, or online messages Advertising specialties (also called promotional product): are useful articles imprinted with an advertiser’s name, logo, or message that are given as gifts to consumers Typical items include T-shirts and other apparel, pens, coffee mugs, calendars, key rings, mouse pads, matches, tote bags, coolers, golf balls, and caps Such items can be very effective The “best of them stick around for months, subtly burning a brand name into a user’s brain,” notes a promotional products expert Event marketing (or event sponsorships): marketers can create their own brand-marketing events or serve as sole or participating sponsors of events created by others The events might include anything from mobile brand tours to festivals, reunions, marathons, concerts, or other sponsored gatherings Event marketing is huge, and it may be the fastest-growing area of promotion, especially in tough economic times 11 1.4.2 Major Trade-Promotion Tools Many of the tools used for consumer promotions such as contests, premiums, displays can also be used as trade promotions Here are three others of trade promotion tool: Price-Off (off-invoice or off-list) is a straight discount off the list price on each case purchased during a stated time period The offer encourages dealers to buy a quantity or carry a new item that they might not ordinarily buy The dealers can use the buying allowance for immediate profit, advertising, or price reductions Allowance is an amount offered in return for the retailer’s agreeing to feature the manufacturer’s products in some way An advertising allowance compensates retailers for advertising the manufacturer’s product A display allowance compensates them for carrying a special product display Free Goods offers of extra cases of merchandise to intermediaries who buy a certain quantity or who feature a certain flavor or size Manufacturers might offer push money, cash or free specialty advertising items to retailers that carry the company’s name such as pens, pencils, calendars, paperweights, matchbooks, memo pads, and yardsticks 1.4.3 Major Business Promotion Tools Business promotions include many of the same tools used for consumer or trade promotions However, this part only focuses on two additional major business promotion tools: Shows Trade and Conventions: Industry associations organize annual trade shows and conventions where firms selling products and services to this industry buy space and set up booths and displays to demonstrate their products Participating vendors expect several benefits, including generating new sales leads, maintaining customer contacts, introducing new products, meeting new customers, selling more to present customers, and educating customers with publications, videos, and other audiovisual materials Trade shows also help companies reach many prospects not reached through their sales forces Sales Contests: A sales contest aims at inducing the sales force or dealers to increase sales over a stated period, with prizes going to those who succeed Incentives work best when they are tied to measurable and achievable sales objectives (such as finding new accounts or reviving old accounts) for which employees feel they have an equal chance 1.5 Major Decisions in Sales Promotion In using sales promotion, a company must establish its objectives, select the tools, develop the program, pretest the program, implement and control it, and evaluate the results respectively as in Figure 1.5.1 13 E sta b lish in g O b je c tiv e s S ele c tin g C o n su m e r-P ro m o tio n To o ls S e le c tin g Tra d e -P ro m o tio n To o ls S e le c tin g b u sin e ss p ro m o tio n to o ls D e v e lo p in g th e p ro g m P re te stin g th e p ro g m Im p le m e n tin g th e p ro g m E v a lu a tin g res u lts Figure 3: Major Decisions in Sales Promotion (Source: Kotler, 2002) 5.1.1 Establishing Objectives Sales-promotion objectives are derived from broader promotion objectives, which are derived from more basic marketing objectives developed for the product The specific objectives for sales promotion vary with the target market For consumers, objectives include encouraging purchase of larger-size units, building trial among nonusers, and attracting switchers away from competitors’ brands For retailers, objectives include persuading retailers to carry new items and higher levels of inventory, encouraging off-season buying, offsetting competitive promotions, building brand loyalty, and gaining entry into new retail outlets 5.1.2 Selecting Consumer-Promotion Tools The main consumer-promotion tools are already summarized above We can distinguish between manufacturer promotions and retailer promotions The former are illustrated by the auto industry’s frequent use of rebates, gifts to motivate test-drives and purchases, and high-value trade-in credit The latter include price cuts, feature advertising, retailer coupons, and retailer contests or premiums We can also distinguish between sales-promotion tools that are “consumer-franchise building,” which reinforce the consumer’s brand understanding, and those that are not The former impart a selling message along with the deal, as in the case of free samples, coupons, and premium Sales-promotion tools that are not consumer-franchise building include price-off packs, consumer premiums not related to a product, contests and sweepstakes, consumer refund offers, and trade allowances Manufacturers face several challenges in managing trade promotions First, marketers often find it difficult to police retailers to make sure they are doing what they agreed to Second, more retailers are doing forward buying—that is, buying a greater quantity during the deal period than they can sell during the deal period Third, retailers are doing more diverting, buying more cases than needed in a region in which the manufacturer offered a deal and shipping the surplus to their stores to non-deal regions 5.1.3 Selecting Trade-Promotion Tools Manufacturers can use a number of trade-promotion tools to (1) persuade an intermediary to carry the product, (2) persuade an intermediary to carry more units, (3) induce retailers to promote the brand by featuring, display, and price reduction, and (4) stimulate retailers and their salespeople to push the product 5.1.4 Selecting business promotion tools 5.1.5 Developing the program In deciding to use a particular incentive, marketers have to consider: First, they must determine the size of the incentive A certain minimum is necessary if the promotion is to succeed A higher incentive level will produce more sales response but at a diminishing rate 15 Second, the marketing manager must establish conditions for participation Incentives might be offered to everyone or to select groups A premium might be offered only to those who turn in proof-of-purchase seals or UPC codes Sweepstakes might not be offered in certain states or to families of company personnel or to persons under a certain age Third, the marketer has to decide on the duration of promotion If the period is too short, many prospects will not be able to take advantage of it If the promotion runs too long, the deal will lose some of its “act now” force The optimal frequency is about three weeks per quarter, and optimal duration is the length of the average purchase cycle Of course, the optimal promotion cycle varies by product category and even by specific product Fourth, the marketer must choose a distribution vehicle such as in the package, in stores, by mail, or in advertising Each distribution method involves a different level of reach, cost, and impact Fifth, the marketing manager must establish the timing of promotion For example, brand managers develop calendar dates for annual promotions These dates are used by the production, sales, and distribution departments Finally, the marketer must determine the total sales-promotion budget The cost of a particular promotion consists of the administrative cost (printing, mailing, and promoting the deal) and the incentive cost (cost of premium or cents-off, including redemption costs), multiplied by the expected number of units that will be sold on the deal 5.1.6 Pretesting the program Although most sales-promotion programs are designed on the basis of experience, savvy marketers use pretests to determine if the tools are appropriate, the incentive size is optimal, and the presentation method is efficient Sales promotions usually can be tested quickly and inexpensively and that large companies should test alternative strategies in selected market areas with each national promotion Consumers can be asked to rate or rank different possible deals, or trial tests can be run in limited geographic areas 5.1.7 Implementing the program Marketing managers must prepare implementation and control plans for each individual promotion Implementation planning must cover lead time and sell-in time Lead time is the time necessary to prepare the program prior to launching it: initial planning, design, and approval of package modifications or material to be mailed or distributed; preparation of advertising and point-of-sale materials; notification of field sales personnel; establishment of allocations for individual distributors; purchasing and printing of special premiums or packaging materials; production of advance in ventories in preparation for release at a specific date; and, finally, the distribution to the retailer Sell-in time begins with the promotional launch and ends when approximately 95 percent of the deal merchandise is in the hands of consumers 5.1.8 Evaluating results Manufacturers can use three methods to measure sales-promotion effectiveness: sales data, consumer surveys, and experiments Sales data: Marketers can analyze the types of people who took advantage of the promotion, what they bought before the promotion, and how consumers behaved later toward the brand and other brands In general, sales promotions work best when they attract competitors’ customers to try a superior product and these customers switch as a result If the company’s product is not superior, the brand’s share is likely to return to its pre-promotion level Consumer surveys: Marketers can conduct them to learn how many recall the promotion, what they thought of it, how many took advantage of it, and how the promotion affected subsequent brand-choice behavior Experiments: For example, coupons can be sent to half of the households in a consumer panel Scanner data can be used to track whether the coupons led more people to buy the product immediately and in the future This information can then be used to calculate the increase in revenues that stemmed from the promotion Beyond the cost of specific promotions, management must recognize additional costs: 17 Promotions might decrease long-run brand loyalty by making more consumers deal prone rather than advertising prone Promotions can be more expensive than they appear Some are inevitably distributed to the wrong consumers There are the costs of special production runs, extra sales force effort, and handling requirements Certain promotions irritate retailers, who may demand extra trade allowances or refuse to cooperate General understanding of Supermarket 2.1 Definition of Retailing, Retailer and Supermarket “Retailing includes all the activities involved in selling products or services directly to final consumers for their personal, non business use” Retailing is the last stage in a channel of distribution—all of the businesses and people involved in the physical movement and transfer of ownership of goods and services from producer to consumer Functions of retailing are contact between manufacturers, wholesalers, and the consumer Another job for retailers is communicating both with customers and with manufacturers and wholesalers The following points are three special characteristics of retailing: The average amount of a sales transaction for retailers is much less than for manufacturers Final consumers make many unplanned or impulse purchases Retail customers usually visit a store, even though mail, phone, and Web sales have increased Many institutions, manufacturers, wholesalers, and retailers retailing but most retailing is done by retailers including: Specialty store, Department store, Supermarket, Convenience store, Discount Store, Off-price retailer, Superstore Generally, Supermarket is a retailer In details, Supermarket are defined as: Kotler, P and Armstrong, G (2012) Principal of Marketing 14th ed USA: Pearson Education, p.372 “Supermarket is a relatively large, low-cost, low-margin, high-volume, selfservice operation designed to serve the consumer’s total needs for grocery and household products” ( Kotler, P and Armstrong, G., 2012) “A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments It is larger in size and has a wider selection than a traditional grocery store, also selling items typically found in a convenience store, but is smaller and more limited in the range of merchandise than a hypermarket or superstore”.9 In conclusion, supermarket is a business enterprise that provides a service, and does not produce a physical product of its own in the usual sense Instead, it adds value by acquiring existing products from remotely-located suppliers, assembling them in regional warehouses, distributing them to local stores, and finally selling the supplier’s products to local customers A supermarket’s customers are primarily local residents and small businesses that periodically need to replenish their stock of household products A supermarket’s suppliers are primarily producers of household products that are established far from the locations of their final customers In effect, the supermarket provides a virtual marketplace that brings remote suppliers together with local customers (Figure 2.1.1) Kotler, P and Armstrong, G (2012) Principal of Marketing 14th ed USA: Pearson Education, p.375 Princeton.edu, (2014) Supermarket [online] Available at: https://www.princeton.edu/~achaney/tmve/wiki100k/docs/Supermarket.html [Accessed 11 Aug 2014] 19 Product Stock Flow from Supplier to Customer Super market Business Remote Suppliers Regional Warehouses Local Stores Local Customers Figure 3: Supermarket Business Model (Source: Steeneken and Ackley, 2012.) 2.2 Features of Super market The main features of supermarket are as follows: Variety of products: The supermarket typically comprises meat, fresh produce, dairy, and baked goods departments, along with shelf space reserved for canned and packaged goods as well as for various non-food items such as household cleaners, pharmacy products and pet supplies Most supermarkets also sell a variety of other household products that are consumed regularly, such as alcohol (where permitted), medicine, and clothes, and some stores sell a much wider range of non-food products 10 Supermarkets are very useful when it comes to shopping, as everything that a family may need is situated under one roof The items for sale in supermarkets are placed on the shelves, in the aisles, in a simple way, so that customers can find the things they want to purchase 10 Princeton.edu, (2014) Supermarket [online] Available at: https://www.princeton.edu/~achaney/tmve/wiki100k/docs/Supermarket.html [Accessed 11 Aug 2014] The variety of goods available is huge, so customers have more choices in a supermarket than in a corner shop or newsagent Space: Supermarket occupies a large amount of floor space, usually on a single level It is usually situated near a residential area in order to be convenient to consumers Cheap price: Supermarkets usually offer products at low prices by reducing their economic margins Certain products (typically staple foods such as bread, milk and sugar) are occasionally sold as loss leaders, that is, with negative profit margins To maintain a profit, supermarkets attempt to make up for the lower margins by a higher overall volume of sales, and with the sale of highermargin items Separate departments: In supermarkets, separate departments are operated for certain items (product lines) Supermarkets are organized and operated on department basis Self-service: Self-service is given more priority in supermarkets; services to customers in supermarket are limited it allows consumers to pass through aisles using shopping carts or baskets and pick up whatever they require, bring goods to the counter by themselves, show the sellers and take bills Its basic appeal is the availability of a broad selection of goods under a single roof, at relatively low prices Other advantages include ease of parking and frequently the convenience of shopping hours that extend far into the evening or even 24 hours a day Supermarkets usually allocate large budgets to advertising, typically through newspapers They also present elaborate in-store displays of products The stores are usually part of corporate chains that own or control (sometimes by franchise) other supermarkets located nearby—even transnationally—thus increasing opportunities for economies of scale 21 Reference J Baker, M (2003) The Marketing book 5th ed Great Britain: ButterworthHeinemann Kotler, P (2002) Marketing Management Millenium Edition 10th ed USA: Pearson Education Kotler, P and Armstrong, G (2012) Principal of Marketing 14th ed USA: Pearson Education Princeton.edu, (2014) Supermarket [online] Available at: https://www.princeton.edu/~achaney/tmve/wiki100k/docs/Supermarket.html [Accessed 11 Aug 2014] Steeneken, F and Ackley, D (n.d.) A Complete Model of the Supermarket Business BPTrends [online] Available http://www.bptrends.com/publicationfiles/01-03-2012-ART-Supermarket %20Article-steeneken-Ackley%20111226.pdf [Accessed Aug 2014] at: ... Supermarket Business Model .16 General understanding of Sales Promotion 1.1 Sales Promotion definition Before defining exactly what Sale Promotion is, meaning of marketing, marketing... and higher levels of inventory, encouraging off-season buying, offsetting competitive promotions, building brand loyalty, and gaining entry into new retail outlets 5.1.2 Selecting Consumer -Promotion. .. (printing, mailing, and promoting the deal) and the incentive cost (cost of premium or cents-off, including redemption costs), multiplied by the expected number of units that will be sold on the
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