Business Finance Homework Help

1-Hi Student,

I’ve asked this question in several different ways but no one seems to answer the question. So what are some pormotions that work internationally? Anthing specific?

2- Sales campaigns are designed to boost product or service sales in the near term. They are an essential part of most marketing managers’ arsenal strategies for driving demand because they are so successful at causing short-term sales (Jiang & Ma, 2018). Marketers often depend on the same resources that have served them well in domestic markets as they extend into foreign markets. Any sales incentives, however, do not fit in overseas markets due to cultural variations.

Consumer-Oriented Sales Promotions

Consumer-oriented promotional deals may provide incentives provided by retailers to customers, such as half-off vouchers from the neighborhood pizza parlor. Short-term price cuts, double vouchers sold at the grocery store, or promotional features, such as an optional pie topping for an order of $10 or more for a limited period, are also examples of retail deals (Alvarez & Schwenk, 2013).

Business-Oriented Sales Promotions

Manufacturers, raw materials vendors, parts manufacturers, or business goods or service suppliers supplying to other companies provide wholesalers and dealers off-invoice discounts, merchandise credits, and advertising allowances.

Sales Promotions Methods

There are several strategies for promoting purchases. Price reductions have a discount on the regular retail price or a larger quantity of the product at the normal retail price. Using till coupons as part of the customer’s receipt, coupons are used to facilitate repeat purchases of a particular product or at a specific shop (Alvarez & Schwenk, 2013). Many stores and distributors employ competitions and prizes in innovative ways, including being subject to legal constraints. Customers are encouraged to choose the same carrier through repeat passenger and loyalty offers, such as frequent flier services.

Other Goals for Sales Promotions

Beyond stimulating demand in the immediate term, a profitable promotional promotion could have one or more targets. When a new product is launched to the market or generates interest in a product in a competitive field, a promotional campaign may help raise product awareness (Nazari, van der Rest & Mira, 2020). A promotional incentive will also give needed information to the customer by providing a complimentary trial period on such goods.

Measuring Success

The most common way to assess the effectiveness of a promotional campaign is to compare retail sales during the promotion to sales when there was no promotion.

References

Alvarez, J. & Schwenk, V. (2013). How Sales Promotions Change Over Time. Retrieved from https://0624jc8pc-mp02-y-https-search-proquest-com…

Jiang, H. & Ma, J. (2018). Effects of Internet Sales Promotion on a Differential Advertising Model. Retrieved from https://0624jc8pc-mp02-y-https-search-proquest-com…

Nazari, M., van der Rest, J. & Mira, S. (2020). Customer engagement in sales promotion. Retrieved fro

3-Hello class,

Sales promotions are incentives that businesses give clients so they go and buy their products or services. We have all seen the BOGO “buy one get one free” promotions, or the “if you become a member today you will get 20% or two-days free shipping, or the 50% off coupons if you spend certain amount of money. All these different sales can be seen at the stores, on websites, or on your mail. Sales promotion have the purpose to inspire more purchases, but businesses also used them to drive excitement about their products or services. For people who like to travel a lot, there is a great sales promotion called “Loyalty Programs”. With these programs, returning clints get free upgrades, free bag checked, early access to the plane, and points that can be used to lower flights fare. Just to name a few (Chaharsoughi, & Yasory, 2012)

Airlines do this to get their consumers to select them every time and not go with the competition. But people ask themselves how is that airlines can still make money when they are sometimes losing money by offering these promotions to their customers. The truth is that airlines think that to offer these loyalty programs is worthy because these clients that flight 20 or more times per year, will do it with their airlines. These promotions really inspire loyalty, which is what businesses want. The only goal is not to make a sale, but to keep the customers wanting to come back. Sales promotions help to stablish long-time relationships with consumers (Familmaleki, Aghighi, & Hamidi, 2015).

A tactic that companies use is Product Placement where they pay to get their product in front of the audience. We have all seen it in movies when we see Charlize Theron in the movie “Atomic Blonde” drinking a “stoli” referring to a “Stolichnaya” Vodka, or Spiderman drinking a Dr. Pepper. People watching these movies might feel drawn to get one of those drinks. Sometimes companies might use product placement just to show people how to use that particular product. Overall, all these strategies are implemented to drive sales, because sometimes people do not need what they are buying, but might end up makingthe purchase anyway. They might even feel excited about the purchase because it felt like they were saving money or got a good value, even if they did not need it and were just impulse-buying (Familmaleki, Aghighi, & Hamidi, 2015).

Reference:

Chaharsoughi, S. A., & Yasory, T. H. (2012). Effect of sales promotion on consumer behavior based on culture. African journal of business management, 6(1), 98-102.

Familmaleki, M., Aghighi, A., & Hamidi, K. (2015). Analyzing the influence of sales promotion on customer purchasing behavior. International Journal of Economics & management sciences, 4(4), 1-6.

4-Hi,

Sales promotions are a marketing communication tool for stimulating revenue or providing incentives or extra value to distributors, sales staff, or customers over a short time period. Sales promotion activities include special offers, displays, demonstrations, and other nonrecurring selling efforts that aren’t part of the ordinary routine. Companies use sales promotions to increase demand for their products and services, improve product availability among distribution channel partners, and coordinate the selling, advertising, and public relations. There are two types of sales promotions: consumer and trade. A consumer sales promotion targets the consumer or end-user buying the product, while a trade promotion focuses on organizational customers that can stimulate immediate sales (“Sales Promotions”, n.d.).

According to (“What are the different Sales Promotion tools?”, n.d.), the marketers need to choose the right sales promotion tool to reach their audience. Below are the major promotion tools directed towards consumers:

• Free samples: The manufacturer offers free samples to consumers in various ways doing door-to-door visits, retail stores, malls, attached to another product, etc. The purpose is to gain new customers or enter into a new market.
• Exchanges: Customer are asked to submit the old product, and a new product is offered at a new price.
• Sales promotion letters: Sent to buyer’s homes and offices giving information on promotion activity or information on the products.
• Coupons: These are certificates by which a buyer can buy a product at a reduced price. These are mailed, accompanied by other products, with newspapers or magazines, or even direct mail. This helps consumers and the dealers as they are required to stock the product because of an increase in demand.

References:

Sales Promotions (n.d.) Retrieved from https://courses.lumenlearning.com/suny-marketing-s…

What are the different Sales Promotion tools? (n.d.) Retrieved from https://www.abcofmarketing.com/different-sales-promotion-tools/