Chat with AIExam 17: Promotions
Name and describe the seven common types of consumer promotions.
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VerifiedThe most common types of consumer promotions are:
(1)Price Deals -A temporary price reduction or a sale price. There are four common price deals. A cents-off deal is a reduction in the normal price charged for a good or service announced at the point of sale or through mass or direct advertising. A price-pack deal provides the consumer with something extra through the package itself (e.g., a prize in the cereal box). Bonus packs contain additional amounts of the product free when consumers purchase the standard size at the regular price. Banded packs are more units of a product sold at a lower price than if they were bought at the regular, single-unit price.
(2)Coupons -Provide a discount on the price of a product. The two general types are retailer coupons and manufacturer coupons. Retailer-sponsored coupons can be redeemed only at the specified retail outlet. Manufacturer-sponsored coupons can be redeemed at any outlet distributing the product.
(3)Refunds and Rebates -A marketer's offer to return a certain amount of money to the consumer who purchases the product.
(4)Sampling -Allows the consumer to try the product or service for free.
(5)Contests and Sweepstakes -Create excitement by promising "something for nothing" and offering impressive prizes. Contests require participants to compete for a prize based on some sort of skill or ability. Sweepstakes require only that participants submit their names to be included in a drawing or other chance selection. A game is a type of sweepstakes, but it differs from a one-shot drawing type of sweepstakes because the time frame is longer.
(6)Premiums -Tangible rewards for a particular act, usually purchasing a product or visiting the point-of-purchase. Premiums add value to the product. The two types are direct and mail. Direct premiums award the incentive immediately, at the time of purchase. Direct premiums can be store premiums, in-pack premiums, on-pack premiums, or container premiums. Mail premiums require the customer to take some action before receiving the premium. A self-liquidator premium usually requires that a payment be mailed in along with some proof of purchase before the consumer receives the premium.
(7)Specialties (Specialty Advertising)-Presents the brand's name on something that is given away as a reminder, such as a calendar, pen, or cap.
Bob watched the Wachovia Golf Classic last weekend on television. Name and describe the type of promotion and explain why companies use this kind of promotion.
(77) VerifiedSponsorships occur when companies support an event, such as a sporting event, concert, or charity, either financially or by donating supplies and services. Event marketing means building a product's marketing program around a sponsored event, such as the Wachovia Golf Classic. Companies undertake sponsorships to build brand associations and to increase the perceived value of the brand among consumers. The events also give sales representatives the opportunity to interact with prospective and current customers in a social environment, which builds the image and reputation of the company as well as supporting lead generation and customer-reward programs.
Which of the following is NOT an objective of frequency programs?
(81) VerifiedE
A ________ is a type of sweepstake with a longer time frame.
(86) An advertising agency's client wants to use the Internet for sales promotion programs. Discuss two types of sales promotions that are appropriate for this medium.
(86) The reason tie-ins are successful is that brands can leverage similar strengths to achieve a bigger impact in the marketplace.
(83) Which of the following is NOT considered a type of sponsorship or event marketing?
(83) Manufacturers may offer a(n)________, which may be a set amount of money or a discount, to a reseller who purchases a certain amount of the product during a specified time period.
(61) In a practice that is sometimes referred to as ________, trade promotions are directed at distribution channel members.
(64) Sales promotion not only targets consumers, but intermediaries and sales representatives as well.
(83) Name and describe the four partnership programs discussed in your text.
(73) ________ involves manufacturers developing marketing communication programs with their main retail accounts, instead of for them.
(81) Print ads that are ready to be sent to the local print media as soon as the retailer or dealer adds identification, location, promotion prices, or other information are known as ________.
(65) Response rates and redemption rates are used to evaluate the effectiveness of promotional programs.
(87) Refer to the passage below to answer the questions that follow.
Everyone knows McDonald's, the worldwide fast food chain. McDonald's has used consumer promotions for years. Restaurants offer a kids' Happy Meal that always includes a toy, and often times the package itself is a promotion, such as pumpkin buckets at Halloween. McDonald's has also used a promotion patterned after the popular Monopoly game, in which everyone wins something small, like a soft drink or french fries, but one participant could win $1 million dollars. The Monopoly promotion usually lasts several months. McDonald's also participates in promotions with movies, such as Star Wars and several Disney movies. Another promotion McDonald's is considering is a program that will give consumers one free Happy Meal for every 10 they purchase.
-The promotion in which customers receive one Happy Meal for every 10 they purchase is best described as a ________.
(77) The media and non-media marketing pressure applied for a predetermined, limited period of time at the level of consumer, retailer, or wholesaler in order to stimulate trial, increase consumer demand, or improve product availability is categorized as ________.
(73) Beverly works at a specialty kitchen store. The manufacturer of a brand of gourmet mustard that is sold through her store pays her $1.00 for every jar she sells to consumers. What is this called?
(74) You are planning a presentation on why marketers use consumer promotions. What are the reasons you would include in your presentation?
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