GOLDEN SALES PROMOTION (CHAPTER 20) An incentive or inducement. Works well with advertising and selling. Good short term strategy. Essential for new products!

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Presentation transcript:

GOLDEN SALES PROMOTION (CHAPTER 20) An incentive or inducement. Works well with advertising and selling. Good short term strategy. Essential for new products!

GOLDEN CONSUMER SALES PROMOTIONS Coupons Demonstrations Frequent user programs POP Free samples Rebates/refunds Premiums Contests/Games/Sweepstakes

GOLDEN TRADE SALES PROMOTIONS (B2B) Buying allowance Scan-back allowance Merchandise allowance Premium or push money (Spiffs!) Sales contest

GOLDEN PUBLIC RELATIONS (Chapter 19) Communication efforts used to create and maintain favorable relations between an organization and its stakeholders. It’s all about image!

GOLDEN PUBLICITY A news story transmitted through mass media at no charge. It’s a subset of PR. Advantages: Credibility and positive WOM. Disadvantage: Loss of control and timing problems.

GOLDEN PERSONAL SELLING (CHAPTER 20) Personal paid communication that informs customers and persuades them to buy products. Most precise marketing communication- salesperson can get fast and accurate feedback and tailor (customize) messages. Product knowledge and relationship building are very important.

GOLDEN PERSONAL SELLING PROCESS Step 1: Prospecting: Developing list of potential customers. Step 2: Preapproach: Research. Step 3: Approach: Contacting a potential customer. Step 4: Making the presentation Attract and hold attention Demonstration Listening very important Overcoming objections

GOLDEN PERSONAL SELLING PROCESS Step 5: Closing the sale: Asking the prospect to buy. –Don’t be afraid to ask! Step 6: Follow up: Servicing the sale. –Never burn your bridges!