Trade-Oriented Sales Promotion
In this kind of trade promotion, a producer and a store split the expense of an advertisement.
What is cooperative advertising?
This is the first step in the personal selling process where research is required to build a database of prospects.
What is prospecting?
This type of promotion offers a discount that customers can redeem immediately.
What is a coupon?
These are the two strategies of sales promotion.
What are push and pull?
This step requires research to then qualify the possible prospects.
What is qualifying?
These incentives are offered to retailers or wholesalers to lower prices and incentivize them to pass savings on to customers.
What are allowances and discounts?
By meeting the customer, the salesperson gathers information and plans the sales approach in this second step.
What is pre approach?
This promotional method gives customers a free taste of the product to encourage purchase.
What is a sample?
This is the equation to finding the cost of acquisition.
What is cost of acquisition = total cost of marketing activities/number of customers acquired
This step requires a discussion of finance, delivery, and production details.
What is closing?
Stores of salespeople (typically the one who sells the most merchandise) are rewarded by this campaign.
What is a cash bonus?
In this stage, the salesperson meets the customer for the first time, makes a good impression, and builds a relationship.
What is approach?
This type of promotion rewards winners based on their creativity or analytical ability.
What is a contest?
List three importances of sales promotion.
What are (can be any of the following):
- creates awareness
- stimulates sales
- spreads information
- increases customer satisfaction
- stabilizes sales volume
This step is critical to maintaining the relationship with the customer.
What is a follow-up?
These sales give retailers benefits for payments, such as postponed payments or lower interest rates.
What are credit terms?
In this step, the salesperson explains how the product meets the customers needs, demonstrating benefits and creating interest.
What is presentation?
This program rewards repeat customers through points, discounts, or exclusive perks to encourage more purchase.
What is a loyalty program?
This is what a salespersons salary, commission, and/or bonus is refered to as.
What are the sales?
This step consists of onboarding the customer, training (possibly), working through delivery, and possible reorder.
What is a follow-up?
Distributers are trained and educated with new products or marketing techniques through these events.
What are dealer conferences?
During this stage, a critical salesperson turns a buyers hesitation into an opportunity by using techniques such as active listening, empathy, etc.
What is handling objectives?
This type of promotion offers customers a free item or a sample sized version of another product with the purchase, often to boost awareness of the product.
What is point-of-purchase deal?
This strategy targets intermediaries with incentives, bonuses, or free products.
What is the push strategy?
How many steps are there in the personal selling process?
What is seven steps?