Sales promotions are strategic activities and tactics designed to stimulate product demand and improve product availability. They can be targeted either at the end consumers (consumer promotions) or at channel members and other intermediaries (trade promotions). Here are some commonly used sales promotion techniques:
1. Coupons: These are certificates that entitle the holder to a specified saving on the purchase of a particular product.
2. Rebates: Consumers receive cash back after purchasing the product and sending proof of purchase to the manufacturer.
3. Samples: Offering a free sample of a product to consumers, either delivered to the doorstep, via mail, or through in-store distribution.
4. Loyalty Programs: Programs that reward purchasers with discounts, products, or other incentives to keep them loyal to the brand.
5. Point-of-Purchase Displays: These are materials used in the retail setting to attract shoppers’ attention to a brand, convey primary brand benefits, or highlight pricing information.
6. Contests and Sweepstakes: Contests require a purchase or some action for entry, while sweepstakes are typically random drawings open to everyone.
7. Premiums: Items offered either free or at a minimal cost as a bonus for purchasing a product.
8. Price-off deals: Temporary reductions in the regular price of a product.
9. Buy one, get one free (BOGO): Promotions where the consumer receives an additional product free with the purchase of the first product.
10. Bonus packs: These offer extra quantities of a product at the regular price.
These promotions can be used independently or in combination to drive sales and enhance brand awareness. The choice of promotional tactic depends on the target audience, objectives of the promotion, and budget considerations.