Sales promotion is that valuable attempt that can enlarge the sale volume of those products or services. Such market activities can increase worth of the product to entice shoppers to buy it.
Retailer or sales workers may initiate sales promotions. Each brand of a product owns a well defined, standard or indicative price value relationship.
Sales promotion can encourage sales by altering the relationship either by increasing the worth of product or by decreasing its price or by both.
Step 1:
Offer product samples to be tested by shoppers as it will increase the product demand. It is an efficient technique to promote a product however, it is costly.
You may offer samples through home delivery services.
Or, you may offer samples in addition with other daily use product.
The consumers thus will get a chance to draw comparison between the products of different brand.
Step 2:
Use push strategy to help distributors to support the product at market place.
You may offer incentives or discounts to fascinate distributor channels so that they may agree to promote the products at the market place.
This cost-effective way will decrease the requirement of costly advertizing.
Step 3:
By offering coupons attached with products, you can establish sales of new products in the market place while increasing the sales of popular products.
Offered coupons will also encourage shoppers to change their choice for your product against the product of competitors.
Step 4:
Attract consumer attention by offering expressive demo.
Giving demos is very effective especially in case of technical or machinery products.
Step 5:
Offer price pack offers as it will reduce the regular price of product.
You may do so by offering two augmenting products.
You may plan a contest of awards that requires consumers to purchase and use your product to win awards.
Ask your regular customers to use the new products.
You may offer premium incentives by offering products at lower price or for free.
Employ sweepstakes or exciting games and encourage customers to take part and win the cash, products or vacation trips.
Ask and request consumers to take part in sweepstakes bingo games to win prizes.
Offer free trials of new products for your potential consumers.
This will help in increasing sales as these potential customers will be using the product while comparing it with other available options and this will increase the demand of your product.
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