Sales Promotion Tools and Techniques
i. Discount Coupons: A discount coupon is a certificate enabling a consumer to get discount on buying a particular product. Couponing is in effect controlled price reduction. Several types of coupons are in use viz., (a) Coupon with a rub-off spot, (b) Instant coupons, easily detachable to buy immediate package, and (c) Special Price Coupons. ii.
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Price Discounts: 6 Most Common Types of Price Discounts
ADVERTISEMENTS: The following points highlight the six most common types of price discounts. The types are: 1. Quantity Discounts 2. Trade Discounts 3. Promotional Discounts 4. Seasonal Discounts 5. Cash Discounts 6. Geographical Discounts. Type # 1. Quantity Discounts: The basis for quantity discounts lies in the general notion of economies of scale. If a […]
Sales Promotion: Meaning, Characteristics, Methods and
ii. Coupons: A coupon is a chit of stated value mostly kept inside the package, is given direct to the consumer at the time of purchase. It entitles the consumer to a specified saving in the form of price reduction at the time of next’ purchase. Sometimes, coupons are encashed by the retailers on behalf of the manufacturer.
Sales Promotion Meaning: As Defined by American Marketing
Sales promotion aims directly at inducing purchasers to buy a product. It involves demonstrations, contests, prices-off, coupons, free samples, special packaging and money refund offers. Sales promotion activities are designed to encourage resellers and sales people to sell the product.
Elements of Promotion Mix
Money-off coupons and special offers. iii. Point-of-sale displays . iv. ‘Free’ gifts and other incentives . Sales promotions play a useful role in helping to stimulate trial of new products and maintaining interest in established brands. Many financial service providers offer free gifts of small electrical appliances, gift items and even
Types of Retailers: 18 Types of Retailers
Off-price retailers resemble discount retailers in that they sell brand-name merchandise at everyday low prices (EDLP). Off- price retailers rarely offer many services to customers. The key strategy of off-price retailers is to carry the same type of merchandise as traditional department stores but offer prices that can be 40 to 50 percent lower.
Complete Guide to Special Drawing Rights
ADVERTISEMENTS: This article provides complete guide to special drawings rights. Special Drawings Right-Paper Gold: Gold has been replaced by a new international reserve asset called Special Drawing Rights (SDRs). It will perform all the functions of gold or gold standard without facing the limitations of the same. ADVERTISEMENTS: It was the result of a slow […]
Rationing and Indifference Curve Analysis (Explained With
Rationing and Indifference Curve Analysis (Explained With Diagram) Indifference curve analysis can be used to explain underwhat conditions rationing of goods by the Government can act as binding or a constraint on consumer’s choices and further how it affects his welfare. It may be noted that income of a consumer along with the prices of
Sales Promotion Methods
ADVERTISEMENTS: Everything you need to know about the methods of sales promotion. Sales promotion is needed to attract new customers, to hold present customers, to counteract competition, and to take advantage of opportunities that are revealed by market research. Methods used in sales promotion include coupons, samples, premiums, point-of-purchase (POP) displays, contests, …
Functions of HRM: 12 Major Functions of Human Resoures
Functions of HRM – Managerial and Operative Functions Functions of HRM – 2 Important Categories: Managerial Functions and Operative Functions “Human resource management is concerned with the people dimension in management. Since every organization is made up of people, acquiring their services, developing their skills, motivating them to higher levels of performance and ensuring that
Objectives of Sales Promotion: Top 7 Objectives
ii. Couponing – Coupon is one of the oldest and most effective sales promotion tools used by marketers. These coupons may be mailed directly to customers or by publishing ads in newspapers and magazines along with Re off coupon offer customers will get them. Re off coupon is most appealing to price sensitive consumers.
Factors Affecting Promotion Mix: Top 10 Factors Affecting
Example- Coupons and consumers sweepstakes. The marketer in case of push strategy may ask the supermarket, discount stores, department stores to setup demonstrations and encourage the retailers to give their brands more shelf space. In case of pull strategy marketer also spends on advertising and on consumer sales promotion such as free samples: b.
3 Main Forms of Price Discrimination (With Diagram)
Second- degree price discrimination can then make consumers better-off by expanding output and lowering cost. Fig. 9.10 also shows that if a single price were charged, it would be P 0 , and the quantity produced would be Q 0 , Instead, three different prices are charged, based on the quantities purchased.
Top 6 Functions of Money –Discussed
The following points highlight the top six functions of money. Function # 1. A Medium of Exchange: The only alternative to using money is to go back to the barter system. However, as a system of exchange the barter system would be highly impracticable today. For example, if the baker who supplied the green-grocer with bread had to take
Valuation of Securities in a Company Investment
Detachable and Non-Detachable Warrants and Loyalty Coupons: These are sweeteners attached to the debt instruments. Keeping the coupon rate at the then prevailing market rate (say, 12.5%) the company can attract investors by giving them a warrant, which will entitle the holder to buy the equity share at a discount over the market price but not
Indifference-Curves Analysis (With Diagram)
Hence the consumer is worse off in period t. Dividing equation (2.3) through by ∑ q t p t and multiplying by 100 we obtain. that is, the consumer is worse off in period t as compared with the base period if the income index is smaller than the Paasche price index. We may show this result on a graph using indifference-curves analysis.
4 Ps of Marketing Mix: Elements and Sub-Elements
4 Ps of Marketing Mix – Product, Place, Price and Promotion with Various Sub-Elements. Element # 1. Product: Product is an important component of marketing mix without which there would be no business. A product can be anything. It can be an object, an organization, service, place, idea or people.
Effects of Price Control by Government
By giving ration coupons to each and every individual, government may allocate available goods among people equitably. Thus, rationing may be justified during war or emergency when scarcity of a particular commodity or commodities hits the economy. In other words, rationing may be introduced whenever there is a shortage of essential commodities.
Public Distribution System (PDS): Features, Allocation and
The annual income of Rs 15,000 a year cut off line had been fixed by the Planning Commission using the methodology devised by the expert group led by Prof. Lakdawala. Subsequently, the amount of supply of food grains for a family living below the poverty line (BPL) has been enhanced from 10 kg per month per family to 25 kg per month per family.
Perfect Competition Market Economics
The real commercial world is clearly different from the world implied by perfect competition. A perfectly competitive market is characterised by a large number of small firms that produce a homogeneous product. As a result, each firm is a price-taker and, in the long run, economic profit is equal to two.
Essay on Monopolistic Competition
No firm can have any perceptible influence on the price-output policies of the other sellers nor can it be influenced much by their actions. According to Salvatore, “Monopolistic competition refers to the market organisation in which there are many firms selling closely related but not identical commodities.” Products are close substitutes with a high cross-elasticity and not perfect
8 Main Types of Costs involved in Cost of Production and
In other-words—Real cost signifies the aggregate of real productive resources absorbed in the production of a commodity or a service. Marshall has described “real cost” as the production of a commodity generally requires many different kinds of labour and the use of capital in many forms.. The exertions of all the different kinds of labour that are directly or indirectly involved in
Subsidies to Consumers: Price Subsidy vs. Lump Sum Income
That the individual with cash transfer must be better off and his food consumption must be less as compared to price subsidy on food is due to the fact that indifference curves being convex, the budget line CD obtained with cash transfer must intersect the indifference curve IC 1 at point R reached with equivalent price subsidy.. Therefore, given that the consumer is free to spend money as he
Term Paper on the International Monetary Fund (IMF
Term Paper # 1. Introduction to the International Monetary Fund: A conference was held at Bretton Woods in July 1944 the purpose of the conference was to work out the statutes for the two institutions—International Monetary Fund and World Bank, for promoting international financial cooperation in the matters of exchange rates, balance of payments, re-construction of war ravaged …
Difference between Price and Non-price Competition
ii. Non-price Competition: Focuses on the factors other than the price of the product. In non-price competition, customers cannot be easily lured by lower prices as their preferences are focused on various factors, such as features, quality, service, and promotion. Thus, the marketers focus on these factors to increase the sale of products.