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Significance of Coca Cola coupon as it relates to sales promotion:
First ever coupon, by Asa Chandler.
Importance of Asa Chandler on Coca-Cola's early beginnings and why he could be the "Father of Sales Promotion."
Nobody wanted to taste Coca Cola so Asa induced trial. He gave out samples and premiums and transformed Coca Cola from an invention into a business.
What are the four Key Audiences:
- Loyal Customers
- Competitive product loyalists
- brand switchers
- price buyers
Why the loyalists are the most important audience and the relevance of the "low hanging" discussion in class
they are the low hanging fruit, its important to keep the loyal customer happy. they make and save you money
Know the term "Urgency Marketing" and how it applies to this course:
Urgency marketing refers to selling quickly and at large. Sometimes in mean of an emergency.
Differences between advertising and sales promotion
Advertisement is meant for branding and long term impact, it promotes image. Sales promotion focuses on immediate results, causes brand switching, induces trial, promotes price/value, and is easy to measure results.
Reasons for Sales Promotion's popularity in the U.S.
- 1. Declining consumer brand loyalty
- 2. Customers have become more price sensitive
- 3. Consumers expect valuable offers/ savings
- 4. Manufacturers/ retailers focus on short-term results.
- 5. Technology advances
- 6. Power of retailers is intense
- 7. Advertising now more expensive & less effective
- 8. Targeting specific customer groups is easy
Know the content of the "Keep Loyal Customers Happy and Improve Your Bottom Line" Handout (especially the figures)
Know what an offer is and how to write one for a product.
Tootsie Roll: For every bag of Pink label Tootsie Rolls a customer purchases, Tootsie Roll contributes .50 cents to Susan G. Komen Breast Cancer Research Foundation.
Know the loyalist customers selling objective (3)
- 1. reinforce (reward) behavior of loyal customers
- 2. Get your local customers to buy/ consume more product than they normally do
- 3. Change when loyal customer buys your product (shop earlier or more often at the store)
Know what a premium is and when and by whom it was first used on this continent
Premium is an offer or item of merchandise or service either free or at low cost that is an extra incentive for customers. Premium was first used in early america by Columbus , its a prize or gift offered by a product or brand.Spain claiming America.
Definition of promotional marketing
marketing activities to boost sales of a product
Difference between tactical tools and offers
- -offer is if you do _ you get _.
- -tactical tool is
segmenting target positioning
What do the letter FSI stand for and what an FSI is used for in sales promotion
Free Standing Insert; used for promotion of price/value, to induce trial, immediate results, brand switching
Know how to use the various steps to the decision making process to satisfy a personal need
- problem recognition
- search process
- evaluating alternatives
- selection stage
- evaluation of decision
Know how Church & Dwight increased product consumption
Found multiple uses and made ads to promote Arm & Hammer baking soda
How you use sales promotion in your daily life
Know what existing brand name product you are going to feature in your promotional marketing plan at the end of the semester
As couple of general ways marketers increase consumer consumption for their products
introduce a new reason to ue, introduce a new way to use, lower prices temporarily, new product line