You are doing all you can to maintain the momentum and not blow it in the last minute. Understanding of Value. The real superstars in this line of work understand that selling isn’t just about price. This refers to products that have a certain lifespan, as well as things that do not. One of thereasons to why I thought it was this great is because lots of people will be able to get to know aboutthe festival. Brand image is affected by too many sales promotion activities. Repetition of main brand and product positioning helps build customer trust. Good for building awareness. They are non-recurring in their use. Br… B Discuss the strengths and weaknesses of sales promotion for the marketing communicator? Sales promotions can lead to an increase in market share for the manufacturer. Weaknesses : Retailer might not cooperate because inefficient sales promotion campaign is seen as a trouble. If you discount a $10 item to $8, you miss $2 in revenue. Personal Selling – Flexible, Highly targeted, interactive and bidirectional, message and presentation … At the end, I suggest that the customers should choose the best quality rather than poor quality. Top Answer. Advertising. Customer might feel not satisfied if they did not complete the collection of tokens before the campaign is closed. This point is especially true if many customers would pay $10 eventually for the item if it were not available at a discount. Negative public relation. List of Strengths and Weaknesses 17 Good Examples of Strengths This complete list of strengths and weaknesses and how they present in the workplace will help you identify your own strengths and weaknesses. Then the demand will fall down. As with majority of sales promotions, either the dealer or the business that offer the product do not benefit as much like before. Excessive price discounting trains buyers to focus on the low price as the source of value with a particular business or good. This is because basically the quality will determine the lifespan of a product. To succeed in the competitive marketplace, a business owner must offer products and services that customers have a strong, immediate need for. It also encourages distributors to buy more items and make sure that they always have an adequate supply of sales, says Dryden. Radio Ideas AdvertisementThere were many things that were good about promoting our festival through the radio. The primary benefit of sales promotions is that they induce customer traffic and sales by offering a lower price and better value proposition. Sales promotion can also be used to achieve other objectives, such as widening distribution or ‘shelf facing’. In this guide, we’ll explain the reasons behind the question and provide you three strategies for listing your strengths, as well as your weaknesses. First, look through the list and circle the strengths that you possess, and that are also important for the job you’re applying for. All signs point to you getting the job and you are excited about it. Companies also use sales promotions to clear out excess inventory at the end of a season. With certain types of sales promotions and discounts, it can be difficult to control the nature and timing of purchasing. 6. Promotion Mix – Strengths and Weaknesses of Promotional Mix. One of the reasons for their longstanding achievement is the successful marketing mix that they have been able to achieve as a … Some of the disadvantages of sales promotion are as follows: Sales promotion though it may seem, but is not a panacea in marketing. Advantages of Sales Promotion. Imagine yourself in a job interview. Strengths and Weaknesses of Promotional Ideas 1. At the very least, you'll be clearing storage space in your store or warehouse that could be costing your money. The strengths and weaknesses of major promotional mix are discussed as follows: Strengths: 1. How to Use This List of Strengths . Miscommunications. They distinguish a company from the rest of other in the competition in terms of prices. Sales promotion is marketing tool which easy to control and measure because there are period of time limited and it can be measure by sale sheet. Sales promotion is a calculated risk, but it needs to be carefully planned and managed to be truly effective. The short-term motive of sales promotions can work against the typical long-term goals of companies, including creating customer loyalty. Narrow margins require you to sell a higher volume of goods to generate strong profits. Weaknesses in the marketing plan invariably lead to disappointing actual sales results. While discounts may improve volume, they narrow profit margins. 1. Failure to Demonstrate Customer Need. Retailers and distributors must ensure that any sales promotion that is published should be honest, or else your own sales promotion itself will act against your company, possibly tarnishing its reputation. The first strength of McDonald’s has been their product strategy. You can gain insights on how it compares with your competitors and how to leverage your unique selling points to get more market shares. He holds a Master of Business Administration from Iowa State University. University of Delaware - Alex Brown Curriculum: Chapter 18, Promotion Process, Sales Promotion and Publicity, Class Notes. Sales promotion activities are having temporary and short life. Price sensitivity should encourage the customers to buy things only when promoted into a sale rather than buy at the regular retail price. These include: Helps Create Awareness of New Products – Sales promotion is a highly effective methods for exposing customers and business partners to new products and for moving customers to take an action (e.g., sample a product). Employers want to know how you manage the weakness and recognizing the weakness is the first essential step to managing it properly. 3. Taking 25 percent off the price of a good without altering its benefits increases the customer's perception of value. These customers have a perception of luxury, quality and exclusivity. Companies also use sales promotions to achieve other non-revenue-generating objectives. From a sales and marketing perspective, a SWOT analysis helps you assess where your business stands in the market. Good sales promotion campaign can create good public relation; Sales promotion can be used for competitiveness with rival competitor such as regaining market share. Sales promotion may also help in increasing the effectiveness of advertising. Sales representatives that position themselves at the top stay in touch with their clients. One of the most common interview questions that most of us experienced or will experience at some point is “What are your strengths and weaknesses?”.. The promotion will likely increase your sales by taking away sales from your competitors. Sales turnover and encourage mass production of goods are enhanced by advertising that results in large scale production, average cost of production reduces and results in higher profits. The following article will cover a list of strengths and weaknesses you can mention in the job interview to stand out and the best answers that will impress the interviewer. Growing customer wants and needs along with increased competition has forced them to alter and improve their menu to better fit the environment. When sales promotion is overdosed, the emotion or the need that surrounds them disappears. You are seated right there in front of the interview panel and everything so far is going well. SWOT stands for strengths, weaknesses, opportunities, and threats. Salespeople may vary in their willingness to make the desired sales calls each day; to make service calls that do not lead directly to sales; or to use new technology, such as a laptop, e-mail, or the company's website. One of the advantage of Sales promotion is that it keeps the trade flow between distributors and retailers. When used moderately with careful planning, sales promotion increases sales, even after the promotions period is completed. At the same time, when the cost of advertising and selling costs gets distributed over a larger volume of sales, the average cost of selling also lowers down. If there is a discrepancy between what is advertised and the real deal, it will be viewed negatively by the public. 2. In fact, a promotion is speed up the killing of a bad product. The greatest strength of a sales orientation philosophy is the accumulation of immediate short-term sales and customers who are presented the "best deal," as is familiar when buying an automobile. He has been a college marketing professor since 2004. 7. Disadvantages of Personal Selling. Although sales promotion is an important strategy for producing quick, short-term, positive results, it is not a cure for a bad product, poor advertising, or an inferior sales team. Top Answer. That’s why the Nike Company still can stand stable at No.1 world best sales. Kokemuller has additional professional experience in marketing, retail and small business. Weaknesses It’s not always low-cost After all this talk about the strengths of paid advertising, you might have thought – let’s go for it immediately! You can look back … They send birthday, anniversary and thank you cards. Sales promotions also enable upselling, where you persuade a customer to buy a more expensive item, and cross-selling, where you sell an associated product to the customer. Sales promotions naturally limit your per-transaction revenue opportunities. Everyone loves a bargain, right? Today McDonald’s offers a wide variety of products that consist of 26 items. Disadvantage of sales promotion 1. d. sales promotion C _____ works by listening to consumers, identifying influential individuals, providing important information, and making it easier for them to spread the word. Even when you don't make a profit, generating cash with the unsold items enables you to meet near-term expense obligations and to buy inventory for the next season. While sales promotion is a powerful and effective method to produce immediate short term positive results, it is not a cure for a bad product or bad advertising. Sales promotions should be advertised to let the customers know of the special offer. Answer. 4. Increasing Market Share. The benefits are also short-­lived for three or four months. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. When it comes to job interview questions, the question “What are your strengths and weaknesses?” is definitely among the most asked about. Sales can also lead to viral word-of-mouth that expands your customer base further and encourage loyalty among customers. Advertising is a communication its soul purpose is to inform customers about various products and services and how to obtain and use them. In most cases, they will cease to compare alternatives and purchase the item or service that is offered at the best price and quality. They know how to use a value proposition to full advantage. Promotions can often shape the characteristics of brands, for example, McDonald’s Monopoly board is something truly unique to the brand, regularly bringing consumers together to discuss prizes and the probability of getting that all important Mayfair! Sales promotion can prove useful for marketers in several ways. Asked by Wiki User. It’s all about looking for new ways to stay in a client’s mind. When sales promotions are offered for a limited time, they create urgency among customers because they have to act before the promotion expires. Sales promotions can take the form of discounts, percentage-off deals and rebates. Publicity/Public Relations – Has high credibility; can create goodwill; is low in cost; reaches many audiences, especially difficult-to-reach audiences. Ossur as a company has stood the test of time by maintaining a strong marketing mix that is accurate for their specific target market. Every weakness should be one that, within a professional setting, you learned from. After customers get used to certain discounted price points, it is difficult to get them to pay regular price. For example, you could display some excess t-shirts near a more expensive blazer, and offer the t-shirt free with every blazer sold. Sales promotions should be advertised to let the customers know of the special offer. 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