Objectives of Sales Promotion. Objectives must be stated in terms of profits. Attitudes toward a brand result from a combination of __________________ attitude-formation processes. The following are the objectives of the sales promotion: To announce new products; Encourage customers to buy a new product, complimentary samples may be dispersed, or money and stock allowance can be awarded to business reserve and sell the product. 191. All the companies conduct sales promotion activities. Multiple choice Questions on Production and Operations Management. 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). Sales management is done by Sales Managers and they are responsible for generating sales, profits and customer satisfaction. Salesmen persuade consumers to buy their products. In spite of the several objectives of sales promotion, there are three objectives which are fundamental, viz., informing, persuading and reminding. In earlier days, sales promotion meant clearing out some old stocks or to put some extra pressure behind slow moving products. Sales Promotion in Tourism: Its Objectives and Methods. 2. Sales promotion is the process of convincing a potential customer to buy the product. Win rate is a key indicator in the â¦ The basic and broad objectives of sales promotion are either identical or very similar to the objectives of advertising or salesmanship. A detailed list of objectives is given for the benefit of the students. It provides suitable knowledge for recollection. This post covers marketing multiple choice questions with answers and explanation. 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. These objectives are for both marketers and traders. Q22. Free samples may be distributed to leading consumers who may be a source of advertisement for other prospective consumers. 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. Promotional Objectives. Objectives must be internally consistent. But today sales promotion has various dimensions. ... sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. It was then, only a minor activity related either to advertising or to personal selling. Sales promotion devices are also used to induce present customers to buy more. It helps marketers to realize a variety of objectives. 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. 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'. These are explained as follows: 1. Cash is fundamentally impersonal and the objectives of loyalty promotion is to supersede short-term cash considerations by appealing to deeper human values. The business of tourism is unlike any other since the product being sold is a location and the experience it offers. Usually, additional customers are won away from other firms. Article shared by The main objective of sales promotion is to bring about a change in the demand pattern of products and services. Sales promotion measures aim at attracting new customers. Multiple Choice Questions This activity contains 20 questions. (1) Objective of advertising (2) Models of advertising (3) Evaluation of advertising (4) Developing strategy (5) None of these View Answer / Hide Answer The term ‘Promotion’ originates from Latin term, promovere meaning to move forward. 8. In a _________________ advertising schedule, advertising is used during every period of the campaign, but the amount of advertising varies considerably from period to period. The starting point is the identification of the target audience and the specific objectives that the sales promotion intends to achieve. One of the first objectives of trade promotions is to increase the distribution level of a company. These objectives are attained through effective communication. Very often it would be seen that one product is widely used in one sector and not so in other sectors. Loyalty keeps the product moving even when the company is facing problems in terms of price, distribution etc. For example, an objective to improve price negotiations to achieve gross margins of 34%. Therefore, sales promotion activities are undertaken by the manufacturers to encourage dealers to have more stocks of their goods. This ad was offering customers a _____. Then, select one that best aligns with the action you want your target audience to take. From decreasing expenses to changing the way you manage your customer data, sales objectives arenât restricted to improving the main sales metrics. The basic purpose of sales promotion is to increase the sales of a product by creating demand. There are number of sales promotion exercises which can be offered for retaining loyalty: 1. 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. Practice for BBA or MBA exams using these MCQ. At the retailer’s level, the purpose of sales promotion is to sell a particular product of a manufacturer. Conversion objectives Bottom of the funnel (BOFU) goals for driving purchases, registrations, and visits; Step 2. ADVERTISEMENTS: Purchasing and dealer effectiveness such as displays, demonstration and various non- recurrent selling efforts not in the ordinary routine.â â¦ 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. Dealers are also induced to buy new products for resale. Levels of differentiation, market share, product lifecycle stage, correlating promotional spending and brand sales are part of _____ in advertising. _____ use several tools, including the news, speeches, and special events. It was totally sporadic and unplanned. Loyalty to a product or service is much more subjective and personal in nature than repeat purchase. ); the sales force. An example would be offering 20% off on certain products to the customers. Objectives (3) Developing sales promotion program (4) Rapid growth of sales promotion (5) None of these ... Pressurizing by manager to increase 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. Long term collectors’ promotion where a wide range of merchandise branded with product or service can be collected. Chapter 12: Sales promotion, exhibitions and product placement Try the multiple choice questions below to test your knowledge of this chapter. Business promotion have the following objectives: * Marketing promotions are used primarily to attract new customers to a business. At the salesman’s level, the objective of sales promotion is to achieve more sales. The process of translating thought into a symbolic form is known as _____________________, 10. Retail advertising incorporates: ... An objective source presents the message. This means higher margins to the retailer. Samples, gifts, prizes, etc., are used to encourage consumers to try a new brand or shift their patronage to a new dealer. 3. In this sense, promotion is used to move forward a product in a channel of distribution. Practice for BBA or MBA exams using these MCQ. Percentage of sales, competitive parity, and objective and task are three methods of setting a promotion _____ . Page 1. 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. Reminding leads the firms to reinforce the previously satisfactory behavior of the customer. ... sales promotion : The major difference between a contest and a sweepstakes is that the: 3. Next, review the Facebook Ad objectives that work with the right sales funnel stage. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. 8 Most Important Objectives of Sales Promotion. Skills of a Sales Executive. Sales Promotion - Marketing aptitude questions Q1. M any of the models in the marketin g The trend could be changed by educating consumers about the other uses of products. Margaret Stephens notices the television commercial because of the loud sounds. Some sales promotions are aimed at consumers. They supply comparative information on various products so that consumers may be willing to purchase the products promoted by them. That is why we find discount, off season price reduction of such items in the market. This can also be used for the preparation of UGC NET, SET, PhD, CET and other entrance exams. The objectives of any marketing promotion are based on the goals and strategies of the company launching the project. Sales management is an art where the sales executive or the salesperson helps the organization or individual to achieve its objective â¦ 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 â¦ Mailing letters to few regular customers inviting them for product show. Informing refers to educating the consumers about the product, its features and uses. The radio commercial said, "Send three proofs of purchase and $3 for postage and handling to receive your monogrammed T-shirt". Why Sales Promotion Increases Sales. 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. This is also called _____. If Kwality walls want to improve the distribution of its ice cream, it can give 1 ice cream free for every ice cream sold. Sales objective type: Win rate. 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. To fascinate new consumers To Help the Firm Remain Competitive. Marketers can enhance the consumers' ability to access knowledge structures by ________________, 5. 7. Basically, sales promotion has three specific objectives. 2. Sales objectives are goals that are used to define sales strategy, performance management and incentives. 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. A detergent that advertises how clean it gets clothes is appealing to the ___________________ consumer need. 1. Multiple choice Questions on Advertising and Sales Promotion. Sales promotion has a capability to complement and supplement the advertising functions of the marketing. Determining compensation and incentives b. ADVERTISEMENTS: The main objective of any sales program is to increase the storeâs sales. 4. To create awareness about product: It has been found that most of the sales promotion techniques are highly effective in exposing customers to products for the first time [â¦] As a result, each tourism destination and travel business must not only compete against â¦ Planning sales promotion. a. developing b. distributing c. communicating d. reversing e. researching Answer: c Page: 37 Level of difficulty: Medium 9. Choose the objective that matches the right stage. Usually, free samples are given to introduce new products to customers. The main motive of consumer-oriented promotion is to increase sales directly by attracting new customers and wooing existing ones. Margins The profit margin of deals. Page 1. They do so to remain competitive. All marketing activities that attempt to stimulate quick buyer action or immediate sales of a product are known as ______________________, 6. * Promoting business would help to increase sales and increase brand awareness. When the sales promotion strategies are targeted to the end consumers, it is referred to as consumer sales promotion. Instead, you can set sales objectives to improve any part of your sales process. All the companies conduct sales promotion activities. Businesses can do this targeting because: Newspaper circulation is documented and verifiable: Meaning and Definition: Sales promotion refers to âthose marketing activities that stimulate consumer shows and expositions. They develop or reinforce a favorable set of attitudes and influence their buying behavior. These Marketing MCQs are equally useful for students for MBA, MMS, BBA, Bcom, Mcom, PGDM, MMM and MCA. 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. The wholesalers and retailers who have a variety of goods in their shops can sell more easily to customers. Revenue A revenue target for a team or individual. Fast Sales Boost. 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. A strength of radio advertising is ________________. Objectives must specify the amount of change. 24. Product development, offering three products at the cost of two are some of the devices used to encourage customers to buy more. The following are common types of sales goal. In general, the marketing objectives of promotional efforts are aimed at attracting new customers, increasing sales, raising awareness, or expanding market penetration. Which of the following is NOT a requirement for setting advertising objectives? Equal treatment in hiring and promotion Cash discounts are rarely used in loyalty promotions. 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. 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. They â¦ 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. The ______________________ component of attitudes focuses on behavioral tendencies, 9. ADVERTISEMENTS: Sales Promotion: Meaning, Definition, Objectives and Importance of Sales Promotion! Setting sales objectives goes beyond setting goals based on revenue and churn percentages. Sales promotion ideas can come from anywhere. Increase win rates by 5% in Q1. Reminding the consumers of their past satisfaction will persuade them to stay with the product and prevent them from shifting to competitors. 3. First, it is meant to provide important marketing information to the potential buyers. 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 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. Therefore, no company can afford to ignore promotion activities. The objective is to build primary demand. Efficiency Sales promotion can be aimed at one or more of the following: consumers; the âtradeâ (retailers, wholesalers, distributors etc. Short term sales increase is required to reduce inventories, meet budgets prior to â¦ This is an example of ______________________, the ability to reach prospective customers on a personal and intimate level. Discounts in cash or goods may also be offered to dealers to stock a new product.
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