a. the increase in power for the manufacturers over the grocery stores b. decreased brand parity and price sensitivity c. increased brand loyalty d. increased media effectiveness e. emphasis on short-term results in corporate-reward structures Question 2 In contrast to advertising, which typically, though not always, is relatively long term in orientation and best suited to enhancing buyer attitudes and augmenting brand equity; promotion is more short-term oriented and capable of influencing _____. C. Discounts arising fr, Frequent price cutting by firms in an industry, frequent introduction of new products by firms in an industry and intense advertising campaigns are indications of A) high power of buyers. The owner advertises in the local newspaper to attract customers. Diversify the product line to appeal to more people. Sales promotions can help to increase or reduce trade inventories. stores, b. A) product line extension B) product line sharpening C) product line widening D) market p, Some manufacturers give ____ to retailers to pass on to the retailers' sales clerks to encourage aggressive selling of specific items or lines. 3. They already have a working knowledge of company culture and processes. These objectives are for both marketers and traders. A reason for the growth of sales promotion is _____. Therefore, Spykar Jeans comes up with such discounts, which helps them in increasing their sales and also in stock clearance, Sales promotion can obtain feature pricing, displays, and other dealer in-store support, Sales promotions can help to increase or reduce trade inventories. B. Identify the extra benefits your competitors are offering and assess whether you can offer all or some of these benefits. i. (Desiraju 2001) Obviously in these conditions one of the best ways to get your product noticeable to consumer and to make them switch from other brands is sales promotions techniques. iv. Knowing the responsibilities in and out and performing them with confidence will ensure a smooth transition into a manager for two reasons: A managers job includes a great deal of communicating up and down within the organization. A managers role requires even more independent thinking, whether its applied towards resolving a conflict or allocating budget for a project. Which of the following is FALSE regarding trade allowances? The manager believes this precipitous decline may be due to the extensive marketing campaign a competitor is, Holistic marketers achieve profitable growth by expanding customer share, ____, and capturing customer lifetime value. The growth of huge supermarkets necessitated the need for aggressive selling. Dayton's would have received a(n) _____ from the manufacturer. emphasis on short-term results in corporate-reward structures. Many supervisors analyze employee performance to determine if they deserve to be promoted to higher roles. copyright 2003-2023 Homework.Study.com. a. push strategy b. skimming strategy c. multi-marketing strategy d. pull strategy. Sales promotion means and includes all the activities that are performed by a producer, a . The importance of the service sector and more importantly the role of marketing inputs in services has been seen only in the last 20 years. Management estimates it will lose 10,000 units in sales if it does. A brand name, price, and distribution system have been decided. d) Antitrust implications. Suppose that CatGenie learns that one of its competitors, NoMoreLitter, is about to introduce a new product. High cost of media advertising such as newspapers and TV, is one of the main reasons to find more cost-effective forms of sales promotion. Reduced Costs. Now Joe is concentrating his efforts on developing the best advertising plan for the product line. An increase in its financial resources. Source of competitive advantage c. Symbolic device d. Search cost reducer, Economies of scale may ante from all but one of the following. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. When considering using a sales promotion, it's important to remember the two main risks of the "sales promotion trap":. The growing power of retailers: The power shift in market place from manufacturing to retailers. D. when there is underproduction relative, In the context of SWOT analysis, which of the following best exemplifies a firm's external opportunity? These are generally separated from the supply of the main product but becomes an integral part of the contract. Which of the following would best benefit the development of niche marketing? On-the-shelf promotion is another reason for its growth. During this stage, weaker competitors begin to drop out of the category. Sales promotion can encourage repeat usage of the product or increase product usage by loading consumers: The first part of this argument is supported by Neslin, Quelich, Henderson 1982 the results of their research show that acceleration of purchase quantity is stronger among heavy users that light users. One reason that market economies have been so successful in promoting growth is that _______. If all the neurons in the human body were lined up, they would stretch more than 600 miles. Some of the qualities to look for in the candidate for promotion are empathy and willingness to connect with others. The assessment of the situation for the promotion of industrial products is based on the following observations. Drive sales for the existing stock. All four of these elements combine to make a successful marketing strategy. This may induce dealers to buy products introduced by the manufacturer. Being a self-starter is advantageous since a lot of jobs require some level of personal responsibility. RAPID GROWTH OF SALES PROMOTION Sales promotion tools are used by organizations, including a. increased media. a soft drink manufacturer sending point-of-purchase displays to grocery stores. (a) Sales and profits of a particular individual brand or product in the market (b) The growth and subsequent decline of sales for a product category (c) Industry sales and profits, Which group of policies aims at discouraging rivals from starting a price war? vi. First, consumers have not only accepted but also prefer sales promotion as part of their buying decision criteria. Image Guidelines 5. All other trademarks and copyrights are the property of their respective owners. The ability to hear employees out and adjust the course of the conversation will lead to the most efficient outcomes. c. Manufacturers do not have to invest in creating their own brand names. Which of the following is a form of trade allowance? You can also evaluate how the employee communicates up whether they can match their boss style of communicating. A reason for the growth of sales promotion is ___. First, consumers have not only accepted but also prefer sales promotion as part of their buying decision criteria. ii. Increasing advertising expenditures in those geographic re. B) the brand name recognition and appeal. 5. The objective of this deal is to _____ consumers and thereby _____ the sales of the competitor's new product. Which of the following is NOT true regarding slotting allowances? Many sales promotions are designed to provide benefits to the retailers. In the introduction stage of the product life cycle, marketing efforts are primarily focused on: a. building customer awareness of the product. a. decline b. introduction c. growth d. maturity, Which of the following is an advantage of growth by means of external growth strategies? Sometimes, the manufacturer promise the dealer to take back goods if they remain unsold. Finally, an increase in the size and power of retailers has also boosted the use of sales promotion. Thus, especially in markets where brands are highly similar, sales promotions can cause a short-term increase in . If someone genuinely wants to become a manager, they will demonstrate that they are willing to take up new responsibilities. Sales promotion represents a variety of techniques used to stimulate the purchase of a product or brand. If the Internet continues to grow and sales of brick-and-mortar retailers decline, how might the retailers attract, train, and retain high-quality employees if the industry is perceived as in decline? Trade Sales Promotions are the key to driving sales, building market share, and increasing customer loyalty. A reason for the growth of sales promotion is _____. Consumer sales promotion -related spending increased from $56 billion in 1991 to nearly $100 billion in . \\ A) multiple pricing B) opportunistic pricing C) discount pricing D) price lin, Manufacturers and retailers have a difficult time selling products based primarily on a sustainability message, yet consumers believe sustainability is important. A reason for the growth of sales promotion is _____. In case of new products, the producer may offer some buying allowance to the dealers. Thus, now you know the role and nature of sales promotion. Sales meetings and conferences are also arranged for the purpose of educating and inspiring the sales force. Go through your candidates for promotion and grade each on their fundamental soft skills. Customer feedback is crucial for business success, and you can combine it with a sales promotion to entice customers to give it. 5. hbspt.cta._relativeUrls=true;hbspt.cta.load(429930, 'd287d540-2cf3-4c51-9339-4109c3de637a', {"useNewLoader":"true","region":"na1"}); Effective communication is key to every professional and personal relationship. Firms with small budgets cannot compete with big companies, which spend huge sums of money on advertising. Sales promotion can obtain feature pricing, displays, and other dealer in-store support, ii. If one of your top leaders left your organization tomorrow, what would happen? Due to increase in competition, companies are finding it increasingly difficult to compete on quality. B. as it becomes more costly for buyers to switch brands. The advertisi, A retailer that has many people browsing in their store, but few people actually buying products, needs to strive to increase its a. innovativeness b. advertising c. conversion rate d. market segment e. consideration set, Vertical brand extensions, which extend the brand up into more premium market segments or down into more segments, are a common means of attracting. c. increase customer loyalty and brand value of a product. The target of sales promotion can be _____. Your manager has to be a people person, acknowledge the feelings of others, and realize some of the impulses behind behaviors. Operations Management questions and answers, 10. By inducing more sales through sales promotion, inflow, of cash increases; This could be one of the objectives of the firm. Boost the sales in the short-term. e. competitors, retailers, The manager of a chain of fast-food restaurants has noticed that the number of breakfast customers has fallen by 50 percent in the last 6 months. 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