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RETAIL MARKETING Dr Mayo De Juan Vigaray Esta obra se publica bajo una Licencia Creative Commons Reconocimiento – No Comercial – Compartir Igual 3.0, Spain Power points: conceptualframework Power RETAIL MARKETING Dr. Ma yygy o DeJuanVi Instructor : g ara y Mayo De Juan Vigaray PART 6 RETAIL SALES PROMOTION RETAIL SALES PROMOTION P.1. ELEMENTS OF RETAIL IMAGE P.2. The Retail Promotion Mix P.3. Objectives, Characteristics, Disadvantages, Advantages P.4. Types of sales promotions igaray ayo De V Juan MM SALES PROMOTION Elements of P.1. Retail Image ELEMENTS OGOF RETAIL IMAGE Attr ibu tes o f Target Physical Facilities Market Firm’s Shopping Positioning Experiences Customer Service Overall Community Retail Service Store Image Location Merchandise Promotional Tools igaray Attributes • Advertising • Public Relations • Personal Selling ayo De V Juan Pricing MM • Sales Promotion RETAIL SALES PROMOTION RETAIL SALES PROMOTION P.1. Elements of Retail Image P.2. THE RETAIL PROMOTION MIX P.3. Objectives, Characteristics, Disadvantages, Advantages P.4. Types of sales promotions igaray ayo De V Juan MM SALES PROMOTION Retail P.2. Promotion Mix THE RETAIL PROMOTION MIX (I) Adver tis ing Paid nonpersonal communication transmitted through out-of store mass media by an identified sponsor Customers do not tend to make up their mind at the TV & billboards stage, even though they igaray might be interested in the product ayo De V Juan MM SALES PROMOTION Retail P.2. Promotion Mix ADVERTISING OBJECTIVES Lifting short-term sales Increasing customer traffic Developing and/or reinforcing a retail image Informing customers about goods and services and/or company attributes Easing the job for sales personnel igaray DliDeveloping deman d for priitvate bbdrands ayo De V Juan MM SALES PROMOTION Retail P.2. Promotion Mix THE RETAIL PROMOTION MIX (II) Personal selling Oral communication with one or more prospective customers for the purpose of making sales igaray ayo De V Juan MM SALES PROMOTION Retail P.2. Promotion Mix PERSONAL SELLING OBJECTIVES Persuade customers to buy Stimulate sales of impulse items or products related to customers’ basic purchases Complete customer transactions Feed back information to company decision makers Provide proper levels of customer service igaray Improve and maintain customer satisfaction Create awareness of items also marketed ayo De V Juan MM through the Web, mail, and telemarketing SALES PROMOTION Retail P.2. Promotion Mix THE RETAIL PROMOTION MIX (III) Public relations Entails any communication that fosters a favorable image for the retailer amonggp its public. Nonpersonal, personal, paid, nonpaid, sponsor controlled or not controlled igaray ayo De V Juan MM SALES PROMOTION Retail P.2. Promotion Mix THE RETAIL PROMOTION MIX (IV) Sales promotions Short-term incentives to increase the effectiveness of the promotional efforts Store atmosphere & visual merchandising igaray ayo De V Juan MM RETAIL SALES PROMOTION RETAIL SALES PROMOTION P.1. Elements of Retail Image P.2. The Retail Promotion Mix P.3. OBJECTIVES, CHARACTERISTICS, DISADVANTAGES, ADVANTAGES P.4. Types of sales promotions igaray ayo De V Juan MM SALES PROMOTION P.3. Objectives OCOBJECTIVES In-store displays designed to increase sales INFORM PERSUADE REMIND IiIncreasing shthort-run sales volume Maintaining customer loyalty Emphasizing novelty igaray Supplementing other promotion tools ayo De V Juan MM SALES PROMOTION P.3. Characteristics CCCHARACTERISTIC S Offer extra value and incentives to customers to visit a store and/or purchase merchandise during a specific period of time igaray ayo De V Juan MM SALES PROMOTION P.3. Characteristics DISADVANTAGES It may be difficult to terminate certain promotions without adverse customer reactions The retailer’s image may be hurt if trite promotions are used Sometimes “frivolous” selling points are stressed rather than the retailer’s product assortment, prices, customer services, and other factors Many sales promotions have only short-term effects igaray It should be used only as a supplement to other promotional forms ayo De V Juan MM SALES PROMOTION P.3. Characteristics ADVANTAGES It often has eye-catching appeal The themes and tools can be distinctive The consumer may receive something of value, such as coupons or free merchandise It helps draw customer traffic and maintain loyalty to the retailer igaray Impppulse purchases are increased Customers can have “fun”, particularly with contests and ayo De V Juan MM demonstrations RETAIL SALES PROMOTION RETAIL SALES PROMOTION P.1. Elements of Retail Image P.2. The Retail Promotion Mix P.3. Objectives, Characteristics, Disadvantages, Advantages P.4. TYPES OF SALES PROMOTIONS igaray ayo De V Juan MM SALES PROMOTION P.4. Types TYPES OOOOOF SALES PROMOTIONS 1. Disp lays 2. Contests & Sweepstakes 3. Coupons 4. Frequent-shopper program/ Clubs 5. Prizes 6. Samples & Demonstrations igaray 7. Referral gifts 8. Other limited-time selling efforts outside of the ayo De V Juan ordinary promotion routine MM SALES PROMOTION P.4. Types 1 DISPLAYS ()(I) Display Distributed to Retailers Used to Call Customer’s Attention to Product Promotions Some of the Most Poppqular POP Tools & Techniques Carton Displays Special Racks Banners igaray Signs Price Cards ayo De V Juan MM Point of Sale SALES PROMOTION P.4. Types 1 DISPLAY In-store displays designed to increase sales Window, floor and counter displays that allow a retailer to remind customers and stimulate impulse purchases igaray ayo De V Juan MM SALES PROMOTION P.4. Types 1 DISPLAY (CART ON DISPLAY ) to remiidnd customers and stimulate impulse purchases 1 DISPLAY (()SIGNS) Displays or other communications just inside igaray the entrance of a store generally go unnoticed …. ayo De V Juan MM …. as customers are still in transition mode SALES PROMOTION P.4. Types 1 DISPLAYS ()(II) remind customers stimulate impulse bhbehav iour allow self-service to be MAY applie d reduced a retailer’s promotions costs when manufacturers provide igaray displays ayo De V Juan MM SALES PROMOTION P.4. Types 2 CONTESTS & SWEEPSTAKES Seek to attract and retain customers by participation in events that can lead to substantial prizes CONTESTS SWEEPSTAKES Compete for a prize based Participants submit names on some skill or ability to be included in drawing igaray Generates Can help high degree revive Game – ayo De V Juan type of sweepstakes; MM of consumer lagging involvement sales time frame much longer SALES PROMOTION P.4. Types 2 CONTESTS ADVANTAGES DISADVANTAGES Effective wayyg of getting the Customer reliance on consumer to become these tools as the involved with the brand by reason for continued making the pr omotion retailer patronage relevant Generate interest in or Effort required of excitement over a brand consumer igaray and attrac ting atten tion to advertising ayo De V Juan MM SALES PROMOTION P.4. Types 2 CONTESTS Customers compete for prizes by completing a contest (game) such as a crossword puzzle, a slogg,an, or a football lottery . Winning is at least partially based on a correct answer (skill) Requires a customer to demons tra te some skill in return for a reward igaray Differ from price-off sales in that only a few customers ayo De V Juan receive rewards MM SALES PROMOTION P.4. Types 2 SWEEPSTAKES Similar to a contest, except that participants merely fill out application forms and the winner is picked randomly (chance) No skill is involved Direct-mail retailers use this tool quite often igaray ayo De V Juan MM SALES PROMOTION P.4. Types 3 COUPO NS (I ) RtilRetailers adver tise specilial discoun ts for customers who redeem advertised coupons Customers clip coupons from print media or POP displays, and redeem them with the retailer igaray Discounts from the regular selling prices of ayo De V Juan MM manuftfacturer and retailer brands SALES PROMOTION P.4. Types 3 COUPO NS (II ) Many cases, manufacturers pay to advertise and redeem coupons Are very helpful to an ongoing ad campaign and increase store traffic ADVANTAGES Encourages non-users to try an esttblihdablished brand or users to repeat use Its use increases the consumer’s perception that a retailer offers good value igaray Ad effectiveness can be measured by counting redeemed coupons ayo De V Juan MM SALES PROMOTION P.4. Types 3 COUPO NS (III ) Possible negative effect on the retailer’s image Consumers shop only if coupons are available – do not show loyyyalty DISADVANTAGES Low redemption rates The clutter of coupons igaray Retailer and consumer fraud Handling costs ayo De V Juan MM SALES PROMOTION P.4. Types 4 FREQUENT-SHOOG()OPPER PROGRAM (I) Simply making a sale isn’t enough. Although a customer may like a retailer, the retailer is vulnerable to appeals made by competitors Retailers need to build repeat sales and loyalty by reminding customers about their offering and its benefits Customers are given points or discounts based on the dollar amounts of their purchases The points are accumulated to acquire goods or igaray services Foster customer relationships by awarding special ayo De V Juan discounts or pppprizes to people for their continued MM patronage SALES PROMOTION P.4. Types 4 FREQUENT-SHOOG()OPPER PROGRAM (III) Loyalty bred, customers can accumulate points only by patronizing a specific firm or firms (as previously shown) ADVANTAGES The “free” nature of awards to many consumers The competitive edge for a retailer that igaray is similar to others ayo De V Juan MM SALES PROMOTION P.4. Types 4 FREQUENT-SHOOG()OPPER PROGRAM (IV) Some consumers feel these programs are not really free & would rather shop at lower-priced stores without these system DISADVANTAGES It may take customers a while to gather enough points to get meaningful gifts Profit margins may be smaller if retailers igaray with frequent-shopper programs try to price competitively with firms that do not have these programs ayo De V Juan MM Para ayudarle a proteger su privacidad, PowerPoint evitó que esta imagen externa se descargara automáticamente.
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