Methods of Free Merchandise and Gifts Trade Sales Promotion
There are various methods of Free Merchandise and Gifts Trade Sales Promotion. Some of those methods are as follows:
Introducing a promotional price helps in encouraging multiple product purchases within a certain timeline. Promotional or sales pricing is an effective way to move a product. This method is planned and advertised in advance.
Coupons are widely used by marketers across the globe and offer instant redemptions on certain products. Coupons can be dispatched to the customers in various forms such as digital, print, codes, product displays, cross product, etc.
Sweepstakes and Contests: Sweepstakes and contests help in creating noise around a brand. Sweepstakes and contests award value based on luck and skill, respectively.
Product Illustrations or Sampling: Sampling offers the chance to the customers to try a product free of cost to develop an interest in a product. Though it tends to be expensive, free sampling helps customers to assess quality. Product Illustrations enable customers to examine how a product works before completing the purchase.
Rebates: Rebates reimburse the money after customers make the purchase. Usually, rebates are used for expensive products and are money-back offers.
Premiums: Premiums provide an incentive to customers by offering an additional product at no extra cost. Premiums are generally attached to external packaging or could be introduced as a prize inside the product packaging.
Loyalty Schemes: Loyalty benefits are offered to customers as a reward for consistent purchasing. It leads to brand loyalty and provides added benefits to repeat consumers.
Trade-Ins: Trade-ins offer customers a price break or a discount on a purchase in exchange for something such as an older model or any replacement item.
Objectives of Free Merchandise and Gifts Trade Sales Promotion Method
There are different types of objectives of Free Merchandise and Gifts Trade Sales Promotion Methods. Some objectives of sales promotion are as follows:
To stimulate maximum sales and encourage customers to make a purchase
To facilitate coordination between advertising and personal selling
To help firms in acquiring a competitive edge
To increase sales during the off-season periods
To entice present customers to make more purchases
To attract new customers and launch new products
To boost company goodwill and reputation
The Free Merchandise and Gifts Trade Sales Promotions are incentives and discounts offered to customers as an enticement to initiate a purchase. The short-term inclination of sales promotions contradicts the long-term intentions of advertising to generate brand awareness. These promotion methods are deployed to generate revenues, clear out inventory or merchandise, or launch new products in the market. Overall, the purpose of sales promotion is to augment customer and market demand, acquire potential buyers, increase purchase size, and improve product accessibility media and non-media marketing interactions.
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