Sales Promotion
Techniques
Techniques
When a fast-food restaurant sells a 'Meal Deal' containing a burger, fries, and a drink for a single price, they are using which strategy?
Boundling
What are the four most common variables used to construct a marketing mix, often referred to as the "four Ps"?
Price, promotion, product, and placement.
his classic four-stage model describes the journey a consumer takes from first seeing an ad to making a final purchase: Attention, Interest, Desire, and Action.
AIDA
In this method, the salesperson acts more like an advisor or expert than a "pitchman," asking deep questions to understand the client's specific needs.
Consultative selling
This term refers to a situation or decision that possesses both positive and negative aspects.
double-edged sword
A travel agency offers to return $\$50$ to a customer's bank account after they return from a cruise. This is an example of which technique?
Cashback
When viewing the marketing mix from a consumer's perspective, the "product" variable is converted into which "C" term?
Customer solution.
This technique relies on the "bandwagon effect," using reviews, testimonials, or "best-seller" labels to show that other people trust the product.
Social Proof
his approach focuses on the specific "pain points" of a customer and packages products together to solve a complex problem.
Solution selling
This sales practice involves contacting a potential customer who has had no prior interaction with the salesperson or interest in the product, typically via telephone or door-to-door visits.
Cold calling
Which sales technique involves offering a second unit of a product for no additional cost when the first one is purchased at full price?
BOGOF (Buy One Get One Free)
According to the "four Cs" model, which two terms serve as the consumer-focused equivalents for "Price" and "Placement"?
Cost (for Price) and Convenience (for Placement).
Using the 3Fs (Feel, Felt, Found) is a common way to execute this sales stage, which involves addressing a customer's concerns rather than ignoring them.
Objection handling
This questioning framework moves through four stages: Situation, Problem, Implication, and Need-payoff.
SPIN selling
This British slang term is often used to describe a sales promotion or a business deal that seems dishonest, unreliable, or of low quality.(informal adj.)
Dodgy
A company sells a video game console at a price below the cost of manufacturing, intending to make a profit through the sale of expensive games. What is the console called in this scenario?
A Loss Leader
What term is used to describe how well the different components of a marketing mix are blended together, such as ensuring a luxury product is sold in an appropriate location?
Mix coherency.
Unlike a one-time transaction, this technique focuses on building long-term trust and loyalty to ensure the customer stays with the brand for years.
Relationship Selling
Rather than focusing on the price or features of a product, this technique focuses entirely on the measurable financial or emotional "ROI" (Return on Investment) the customer will receive.
Value-Based selling
This type of property ownership or usage right allows multiple people to hold rights to use the same property—typically a resort suite—each for a specific period of time every year.
Timeshare
A software company ensures that its word processing program only functions if the customer has also purchased their specific operating system. This is an example of:
Tying
What does the concept of "mix dynamics" refer to in a business context?
It refers to how the marketing mix is adapted to a changing business environment, changes in organizational resources, and the product life cycle.
These two psychological triggers are used to prevent "procrastination" in buyers by stating a deal has a time limit or that stock is running low.
Scarcity & Urgency
This high-level strategy uses the 3Ts (Teach, Tailor, Take Control) to actively push back against a customer’s assumptions and lead them to a new perspective.
Challenger selling
This term describes a specific industry or niche where goods and services are offered to a specialized group of customers with unique needs, such as healthcare-only software or aviation-specific hardware.
Vertical Market