To stimulate purchase, there are many sales techniques and it is still increasing with the development of new way to reach the consumers. The important sales promotions methods are:
Although it is expensive but powerful tool of sales promotion used to gain consumer acceptance and to popularize the product. It is best suitable for FMCG. It gives the opportunity for consumer to test product before buying it and make their choices.
Coupons are meant to provide a price-off to consumer upon redeeming the coupon.
Trade incentives provided to retail managers and sales people to increase loyalty on the basis of performing tasks such as displaying merchandise or selling certain lines of merchandise.
promotion which entails a reduction in the brand's regular price.
Contest and sweepstakes is a form of consumer oriented promotional program in which winners receive prizes, cash, or merchandise.
To promote impulsive buying, purchase material such as banners, signs, photos, posters etc. are displayed in-store, where the customer makes actual purchases.
Extra-quantities of a product that company gives to consumers at a regular price.
Trade fairs and exhibitions are great technique of sales promotion as they have wide appeal and an opportunity to introduce the firms and their products to the public at large.
Often in festival seasons clearance sale organized to clear accumulated stocks at reduced prices.
Download App : How to Make Money