Reminding the consumers of their past satisfaction will persuade them to stay with the product and prevent them from shifting to competitors. All the companies conduct sales promotion activities. 3. Objectives of Sales Promotion. From decreasing expenses to changing the way you manage your customer data, sales objectives aren’t restricted to improving the main sales metrics. 7. Percentage of sales, competitive parity, and objective and task are three methods of setting a promotion _____ . In general, the marketing objectives of promotional efforts are aimed at attracting new customers, increasing sales, raising awareness, or expanding market penetration. The trend could be changed by educating consumers about the other uses of products. Sales promotion is a blend of marketing activities and promotional items to intensify the efforts of your sales force, induce your intermediaries to stock and sell your products, and to persuade your customers to purchase the offering within a … The main motive of consumer-oriented promotion is to increase sales directly by attracting new customers and wooing existing ones. Fourth is modeling categor y sales to estim ate how category sales increase a nd which brands gain and lose sale s when a given item is promoted. It was then, only a minor activity related either to advertising or to personal selling. Meaning and Definition: Sales promotion refers to ‘those marketing activities that stimulate consumer shows and expositions. Free samples may be distributed to leading consumers who may be a source of advertisement for other prospective consumers. Multiple choice Questions on Production and Operations Management. In earlier days, sales promotion meant clearing out some old stocks or to put some extra pressure behind slow moving products. Sales management is done by Sales Managers and they are responsible for generating sales, profits and customer satisfaction. The process of translating thought into a symbolic form is known as _____________________, 10. These are explained as follows: 1. Multiple Choice Questions This activity contains 20 questions. Next, review the Facebook Ad objectives that work with the right sales funnel stage. This ad was offering customers a _____. 3. Businesses can do this targeting because: Newspaper circulation is documented and verifiable: Chapter 9 Multiple choice questions This form of marketing communications tool is referred to as 'a paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future'. Q22. At the consumer’s level, the main idea of a sales promotion is to enable the consumer to buy more of a product more frequently and also to introduce new uses for the product. If Kwality walls want to improve the distribution of its ice cream, it can give 1 ice cream free for every ice cream sold. They supply comparative information on various products so that consumers may be willing to purchase the products promoted by them. Sales promotion has a capability to complement and supplement the advertising functions of the marketing. Margins The profit margin of deals. As a result, each tourism destination and travel business must not only compete against … The wholesalers and retailers who have a variety of goods in their shops can sell more easily to customers. Conversion objectives Bottom of the funnel (BOFU) goals for driving purchases, registrations, and visits; Step 2. The following are common types of sales goal. These objectives are attained through effective communication. Sales objective type: Win rate. Promotional Objectives. That is why we find discount, off season price reduction of such items in the market. There are three main objectives of a promotional mix: Increase demand: These strategies are used during the product life cycle in order to increase sales. 191. Planning sales promotion. For example, an objective to improve price negotiations to achieve gross margins of 34%. Objectives must specify the amount of change. Sales promotion ideas can come from anywhere. Factory visits or exhibition stall visits which bring old and regular customers into direct contact with the company’s product or services as well as company’s officials. The ultimate objective of sales promotion is to: Increase sales: Businesses who advertise in newspapers can target their ads to people with particular interests or to those living in a particular region. Instead, you can set sales objectives to improve any part of your sales process. Objectives (3) Developing sales promotion program (4) Rapid growth of sales promotion (5) None of these ... Pressurizing by manager to increase sales. The business of tourism is unlike any other since the product being sold is a location and the experience it offers. One of the first objectives of trade promotions is to increase the distribution level of a company. Since many products have seasonal demand like fans, refrigerators, an important aim of sales promotion of such goods is to encourage purchase during off seasons. The last step in the value creation and delivery sequence is _____ the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product. Objectives must be stated in terms of profits. Therefore, no company can afford to ignore promotion activities. Product development, offering three products at the cost of two are some of the devices used to encourage customers to buy more. * Promoting business would help to increase sales and increase brand awareness. The objective is to build primary demand. 24. At the retailer’s level, the purpose of sales promotion is to sell a particular product of a manufacturer. Chapter 12: Sales promotion, exhibitions and product placement Try the multiple choice questions below to test your knowledge of this chapter. The objectives of a sales promotion is to increase consumer demand, stimulate market demand, to get potential buyers to heed a call to action, increase the size of purchases and improve product availability using media and non-media marketing communications. Informing refers to educating the consumers about the product, its features and uses. Revenue A revenue target for a team or individual. Why Sales Promotion Increases Sales. The radio commercial said, "Send three proofs of purchase and $3 for postage and handling to receive your monogrammed T-shirt". Sales Promotion in Tourism: Its Objectives and Methods. This is also called _____. The term ‘Promotion’ originates from Latin term, promovere meaning to move forward. John, the sales manager for a building materials company, knows the customers in one profitable sales territory, are particularly hostile to women sales reps. John faces an ethical dilemma primarily in the area of: a. a) sample b) deal c) premium d) rebate e) coupon Ans: c Feedback: A premium is a sales promotion that consists of offering merchandise free or at significant savings over its retail price. The basic and broad objectives of sales promotion are either identical or very similar to the objectives of advertising or salesmanship. Seven specific objectives (both initial and ultimate objectives) of sales promotion are noted below: Sales promotion is often used to motivate consumers to try a new product. A detailed list of objectives is given for the benefit of the students. Which of the following is NOT a requirement for setting advertising objectives? a. developing b. distributing c. communicating d. reversing e. researching Answer: c Page: 37 Level of difficulty: Medium 9. Samples, gifts, prizes, etc., are used to encourage consumers to try a new brand or shift their patronage to a new dealer. The objectives of any marketing promotion are based on the goals and strategies of the company launching the project. In a _________________ advertising schedule, advertising is used during every period of the campaign, but the amount of advertising varies considerably from period to period. At the salesman’s level, the objective of sales promotion is to achieve more sales. (1) Objective of advertising (2) Models of advertising (3) Evaluation of advertising (4) Developing strategy (5) None of these View Answer / Hide Answer _____ use several tools, including the news, speeches, and special events. Practice for BBA or MBA exams using these MCQ. Increase win rates by 5% in Q1. Sales promotion devices are also used to induce present customers to buy more. Long term collectors’ promotion where a wide range of merchandise branded with product or service can be collected. Sales management is an art where the sales executive or the salesperson helps the organization or individual to achieve its objective … The importance of sales promotion in modern marketing has increased mainly on account of its ability in promoting sales, preparing the ground for future expansion. ADVERTISEMENTS: The main objective of any sales program is to increase the store’s sales. budget The ideal execution of a promotion program involves ________ each design to allow for changes and modifications, and then ________ to evaluate the impact of each promotion and its contribution toward the objectives. To Help the Firm Remain Competitive. 3. Some sales promotions are aimed at consumers. Efficiency Sales promotion is designed to be used as a short-term tactic to boost sales it is rarely suitable as a method of building long-term customer loyalty. Objectives must be internally consistent. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. Sales promotion is the process of convincing a potential customer to buy the product. ); the sales force. But today sales promotion has various dimensions. The basic purpose of sales promotion is to increase the sales of a product by creating demand. In this sense, promotion is used to move forward a product in a channel of distribution. They develop or reinforce a favorable set of attitudes and influence their buying behavior. M any of the models in the marketin g Usually, free samples are given to introduce new products to customers. 4. In spite of the several objectives of sales promotion, there are three objectives which are fundamental, viz., informing, persuading and reminding. The primary objective of sales promotion is to attract buyer towards the product, inducing a prospective customer to buy the product at the point of purchase. It provides suitable knowledge for recollection. Page 1. It helps marketers to realize a variety of objectives. Dealers are also induced to buy new products for resale. Basically, sales promotion has three specific objectives. Therefore, sales promotion activities are undertaken by the manufacturers to encourage dealers to have more stocks of their goods. The starting point is the identification of the target audience and the specific objectives that the sales promotion intends to achieve. 8 Most Important Objectives of Sales Promotion. Mailing letters to few regular customers inviting them for product show. Cash is fundamentally impersonal and the objectives of loyalty promotion is to supersede short-term cash considerations by appealing to deeper human values. Margaret Stephens notices the television commercial because of the loud sounds. They … There are number of sales promotion exercises which can be offered for retaining loyalty: 1. First, it is meant to provide important marketing information to the potential buyers. Reminding leads the firms to reinforce the previously satisfactory behavior of the customer. All marketing activities that attempt to stimulate quick buyer action or immediate sales of a product are known as ______________________, 6. It was totally sporadic and unplanned. Business promotion have the following objectives: * Marketing promotions are used primarily to attract new customers to a business. Sales promotion is one level or type of marketing aimed either at the consumer or at the distribution channel (in the form of sales-incentives). Fast Sales Boost. Eventually a product will reach its saturation point, at which time investing in sales will decrease as the company focuses its attention on a new product. ADVERTISEMENTS: Purchasing and dealer effectiveness such as displays, demonstration and various non- recurrent selling efforts not in the ordinary routine.” … Sales objectives are goals that are used to define sales strategy, performance management and incentives. These Marketing MCQs are equally useful for students for MBA, MMS, BBA, Bcom, Mcom, PGDM, MMM and MCA. This post covers marketing multiple choice questions with answers and explanation. Then, select one that best aligns with the action you want your target audience to take. Cash discounts are rarely used in loyalty promotions. Page 1. 1. Retail advertising incorporates: ... An objective source presents the message. Loyalty keeps the product moving even when the company is facing problems in terms of price, distribution etc. They do so to remain competitive. When the sales promotion strategies are targeted to the end consumers, it is referred to as consumer sales promotion. To fascinate new consumers 2. Short term sales increase is required to reduce inventories, meet budgets prior to … Very often it would be seen that one product is widely used in one sector and not so in other sectors. All the companies conduct sales promotion activities. 2. Discounts in cash or goods may also be offered to dealers to stock a new product. Sales promotion measures aim at attracting new customers. To Induce Present Customers to Repeat Purchase More, Top 10 Merits and Criticisms of Sales Promotion, Social and Moral Qualities of a Salesman | Requisites of Good Salesman, Top 10 Advantages and Disadvantages of Sales Promotion, Physical and Psychological Qualities of a Salesman, Meaning & Essential Features of Economic Planning, Audit of Shares – Issued for Cash | Issued for Consideration other than Cash, Single Storey Industrial Building | Merits, Demerits, Suitability, Production Planning | Characteristics | Importance | Phases | Pre-Requisites, Localization of Industries | Meaning | Causes | Advantages | Disadvantages, Special Privileges of Private Company over Public Company in India. The ______________________ component of attitudes focuses on behavioral tendencies, 9. Marketers can enhance the consumers' ability to access knowledge structures by ________________, 5. Sales Promotion - Marketing aptitude questions Q1. ... sales promotion : The major difference between a contest and a sweepstakes is that the: Equal treatment in hiring and promotion Article shared by The main objective of sales promotion is to bring about a change in the demand pattern of products and services. This is an example of ______________________, the ability to reach prospective customers on a personal and intimate level. Practice for BBA or MBA exams using these MCQ. Attitudes toward a brand result from a combination of __________________ attitude-formation processes. This means higher margins to the retailer. These objectives are for both marketers and traders. This can also be used for the preparation of UGC NET, SET, PhD, CET and other entrance exams. Win rate is a key indicator in the … ADVERTISEMENTS: Sales Promotion: Meaning, Definition, Objectives and Importance of Sales Promotion! Sales promotion can be aimed at one or more of the following: consumers; the ‘trade’ (retailers, wholesalers, distributors etc. Salesmen persuade consumers to buy their products. Loyalty to a product or service is much more subjective and personal in nature than repeat purchase. Skills of a Sales Executive. Usually, additional customers are won away from other firms. Determining compensation and incentives b. ... sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. A strength of radio advertising is ________________. Levels of differentiation, market share, product lifecycle stage, correlating promotional spending and brand sales are part of _____ in advertising. Multiple choice Questions on Advertising and Sales Promotion. Choose the objective that matches the right stage. 8. An example would be offering 20% off on certain products to the customers. 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