Popular Sales Promotion Tools
The objective behind sales promotional tools is to keep current customers while attracting new ones, maintaining sales of seasonal products, introducing new products and challenging competitors. The essence of sales promotion involves using all forms of promotional activities, besides personal selling and advertising, to improve sales.
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Coupons
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Coupons are one sales promotional tool. Customers get coupons in several ways, including via newspapers, magazines, online or mail. Customers present coupons to the retailer while buying merchandise in order to receive a discount or free product. For example, if a woman uses a coupon which takes 50 percent off a book costing $30, she saves $15.
Bonus Offers
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Bonus offers or gifts with purchase are widely used promotional tools. When customers purchase a product, sometimes a bonus product is given along with it. The purpose is to increase the sale of the product and to make it more attractive by offering an additional item. Examples are a toothbrush with free toothpaste, or a book with an accompanying CD. Other sales promotional tools include price-off offers, money-back guarantees, scratch and win offers, trading stamps as well as fairs and exhibitions.
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Free Samples
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Another popular promotional tool is the free sample. When a customer is in the store purchasing certain products, he may receive a free sample of deodorant, shampoo, energy drinks food or candy. Usually, free samples don't require the customer to purchase anything. Free samples can be given to a particular target audience in order to attract that type of customer.
Advantages
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Sales promotion tools offer many advantages to manufacturers and customers. For manufacturers, these advantages includes the increase in sales in a competitive environment, attracting the attention of potential customers and helping stabilize the sales volume by maintaining existing customers. For consumers, sales promotion tools offer products for lower prices, provide free prizes and inspire confidence (for example, by offering money-back guarantees).
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References
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