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Introduction to Business

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Introduction to Business ­MGT 211
VU
Lesson 34
SALES PROMOTIONS
Sales Promotion -- short-term promotional activity designed to stimulate consumer buying or
cooperation from distributors and sales agents.
Sales promotion covers a wide variety of activities from arranging plant tours and trade show
exhibits to distributing free samples and publishing promotional booklets. Sales promotion may
be divided into two basic categories:
Consumer promotion, aimed at the final consumer, and trade promotion, aimed at
wholesalers and retailers.
Types of Sales Promotions
i.
Coupons aim to spur sales by offering a discount through redeemable
coupons. It is the biggest category of consumer promotion. Rebates are
similar to coupons, except that customers have to mail in proof of
purchase with a prepared manufacturer's rebate form.
ii.
Point-of-purchase displays are devices used to show a product in a
way that stimulates immediate sales. It may be an end-of-aisle display in
a supermarket or the computerized kitchen design systems for cabinets
in building-supply stores.
iii.
Purchasing Incentives (Free samples and Premiums) --free samples
and premiums that allow customers to try products without risk.
iv.
Trade Shows--Companies rent booths to display and demonstrate
products to customers who have a special interest or are ready to buy.
These shows are inexpensive and quite effective.
v.
Contests--Customers, distributors, and sales reps may all be
persuaded to increase sales by means of contests.
vi.
Special-event sponsorship has become one of the most popular types
of sales promotion.
vii.
Cross-promotion uses one brand to promote another non-competing
brand, as in McDonald's bundling with Beanie Babies and Intel inside
with computer cases.
Publicity and Public Relations
Publicity --- a promotional tool in which information about a company or product is transmitted
by general mass media. Publicity is free, but you have little or no control of the content and
delivery. Be aware, there is both good and bad publicity.
Public Relations -- company-influenced publicity directed at building goodwill between an
organization and potential customers. Smart companies know they need to maintain positive
relations with their communities, investors, industry analysts, government agencies, and the
news media.
Companies seek favorable publicity to create interest in their products. Companies with a good
public image are more attractive to investors. Press relations refer to the process of
communicating with reporters and editors from newspapers, magazines, and radio and
television networks and stations.
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Introduction to Business ­MGT 211
VU
News releases are brief statements or video programs released to the press announcing new
products, management changes, sales performance, and other potential news items; also called
a press release. News conferences are gatherings of media representatives at which companies
announce new information; also called a press briefing.
Promotional Practices in Small Business
1. Small Business Advertising
Methods available for small-business advertising depend on the market that the firm is trying
to reach: local, national, or international. The Internet has provided advertising opportunities.
Local advertising (non-prime-time slots on local TV or cable shows) offers great impact at
affordable cost. Targeted direct mail can help a small firm reach a national audience. For
international advertising, most small firms find direct mail and carefully targeted magazine
advertising most effective.
The Role of Personal Selling in Small Business
The personal selling strategies used by small businesses depend on their intended markets.
Many firms combine telemarketing with catalogs and other product literature.
Small Business Promotions -- Small companies use the same sales promotion incentives as
larger companies.
International Promotional Strategies
Worldwide advertising is a large part of many companies' promotional expenditures.
Emergence of the Global Perspective
Global Perspective-company's approach to directing its marketing toward worldwide rather
than local regional markets.
Movement toward Global Advertising
i.
The truly global perspective means designing products for multinational
appeal. Four factors make global advertising a challenging proposition:
product variations, language differences, cultural receptiveness, and
image differences.
Universal Messages and Regional Advertising Skills
In recognizing national differences, many global marketers try to build on a universal
advertising theme that nevertheless allows for variations.
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Table of Contents:
  1. INTRODUCTION:CONCEPT OF BUSINESS, KINDS OF INDSTRY, TYPES OF TRADE
  2. ORGANIZATIONAL BOUNDARIES AND ENVIRONMENTS:THE ECONOMIC ENVIRONMENT
  3. BUSINESS ORGANIZATION:Sole Proprietorship, Joint Stock Company, Combination
  4. SOLE PROPRIETORSHIP AND ITS CHARACTERISTICS:ADVANTAGES OF SOLE PROPRIETORSHIP
  5. PARTNERSHIP AND ITS CHARACTERISTICS:ADVANTAGES AND DISADVANTAGES OF PARTNERSHIP
  6. PARTNERSHIP (Continued):KINDS OF PARTNERS, PARTNERSHIP AT WILL
  7. PARTNERSHIP (Continued):PARTNESHIP AGREEMENT, CONCLUSION, DUTIES OF PARTNERS
  8. ORGANIZATIONAL BOUNDARIES AND ENVIRONMENTS:ETHICS IN THE WORKPLACE, SOCIAL RESPONSIBILITY
  9. JOINT STOCK COMPANY:PRIVATE COMPANY, PROMOTION STAGE, INCORPORATION STAGE
  10. LEGAL DOCUMENTS ISSUED BY A COMPANY:MEMORANDUM OF ASSOCIATION, CONTENTS OF ARTICLES
  11. WINDING UP OF COMPANY:VOLUNTARY WIDNIGN UP, KINDS OF SHARE CAPITAL
  12. COOPERATIVE SOCIETY:ADVANTAGES OF COOPERATIVE SOCIETY
  13. WHO ARE MANAGERS?:THE MANAGEMENT PROCESS, BASIC MANAGEMENT SKILLS
  14. HUMAN RESOURCE MANAGEMENT:Human Resource Planning
  15. STAFFING:STAFFING THE ORGANIZATION
  16. STAFF TRAINING & DEVELOPMENT:Typical Topics of Employee Training, Training Methods
  17. BUSINESS MANAGERíS RESPONSIBILITY PROFILE:Accountability, Specific responsibilities
  18. COMPENSATION AND BENEFITS:THE LEGAL CONTEXT OF HR MANAGEMENT, DEALING WITH ORGANIZED LABOR
  19. COMPENSATION AND BENEFITS (Continued):MOTIVATION IN THE WORKPLACE
  20. STRATEGIES FOR ENHANCING JOB SATISFACTION AND MORALE
  21. MANAGERIAL STYLES AND LEADERSHIP:Changing Patterns of Leadership
  22. MARKETING:What Is Marketing?, Marketing: Providing Value and Satisfaction
  23. THE MARKETING ENVIRONMENT:THE MARKETING MIX, Product differentiation
  24. MARKET RESEARCH:Market information, Market Segmentation, Market Trends
  25. MARKET RESEARCH PROCESS:Select the research design, Collecting and analyzing data
  26. MARKETING RESEARCH:Data Warehousing and Data Mining
  27. LEARNING EXPERIENCES OF STUDENTS EARNING LOWER LEVEL CREDIT:Discussion Topics, Market Segmentation
  28. UNDERSTANDING CONSUMER BEHAVIOR:The Consumer Buying Process
  29. THE DISTRIBUTION MIX:Intermediaries and Distribution Channels, Distribution of Business Products
  30. PHYSICAL DISTRIBUTION:Transportation Operations, Distribution as a Marketing Strategy
  31. PROMOTION:Information and Exchange Values, Promotional Strategies
  32. ADVERTISING PROMOTION:Advertising Strategies, Advertising Media
  33. PERSONAL SELLING:Personal Selling Situations, The Personal Selling Process
  34. SALES PROMOTIONS:Publicity and Public Relations, Promotional Practices in Small Business
  35. THE PRODUCTIVITY:Responding to the Productivity Challenge, Domestic Productivity
  36. THE PLANNING PROCESS:Strengths, Weaknesses, Threats
  37. TOTAL QUALITY MANAGEMENT:Planning for Quality, Controlling for Quality
  38. TOTAL QUALITY MANAGEMENT (continued):Tools for Total Quality Management
  39. TOTAL QUALITY MANAGEMENT (continued):Process Re-engineering, Emphasizing Quality of Work Life
  40. BUSINESS IN DIGITAL AGE:Types of Information Systems, Telecommunications and Networks
  41. NON-VERBAL COMMUNICATION MODES:Body Movement, Facial Expressions
  42. BUSINESS ORGANIZATIONS:Organization as a System
  43. ACCOUNTING:Accounting Information System, Financial versus Managerial Accounting
  44. TOOLS OF THE ACCOUNTING TRADE:Double-Entry Accounting, Assets
  45. FINANCIAL MANAGEMENT:The Role of the Financial Manager, Short-Term (Operating) Expenditures