After selecting a product Describe 7 different types of consumer products from the attached table and apply to product.

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Xtybire

Business Finance

OMM615

ashford university

Description

Consumer Promotions

Select one product. In a two- to four-page paper (excluding the title and reference pages), describe seven different types of consumer promotions from the twelve shown in Table 6.2 of the text and assess how each of the seven types would be applied to your product. Determine which strategy is the most effective and explain why.

The paper

  • Must be two- to four double-spaced pages in length (excluding the title and reference pages) and formatted according to APA style as outlined in the Ashford Writing Center. (Links to an external site.)Links to an external site.
  • Must include a separate title page with the following:
    • Title of paper
    • Student’s name
    • Course name and number
    • Instructor’s name
    • Date submitted
  • Must use at least two scholarly sources in addition to the course text.
  • Must document all sources in APA style as outlined in the Ashford Writing Center.
  • Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.

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6.2 Types of Sales Promotions There are many types of promotional tactics that can be used by businesses. Each of these tactics is associated with either consume rpromotions, which are directed to the final user, or trade promotions, which are directed at retailers or wholesalers instead ofc onsumers. Table 6.2 shows a sampling of major consumer sales promotions tactics and Table 6.3 shows main trade promotions.Alth ough many different types of promotional activities are mentioned, only the main tactics will be discussed in detail within thechapte r. Table 6.2 Types of consumer promotions Type Description Example Coupons A document that can be exchanged for a discount offthe price of a product or service On many websites, there are printablecoupons th at can be redeemed online or instore. Sampling A free sample of the product is provided; this may bedone at p oint-ofsale, or it may be done through theInternet, mail, attached to a product, or through anadvertisement A company representative cooks sausage ata loca l market and gives out free samples tocustomers i n the store. Cash refun ds orrebat es Return, reduction, or refund on the purchase price of aproduc t or service Customers buying three boxes of cereal willreceiv e a $2 refund in the mail if they send aform and p roof of purchase to themanufacturer. Cents-off Tagging a product's package with a discount off theregular pric A person buying a razor may find anattached peel e of the product which can be peeled off;many times two prod -off coupon that gives 50 centsoff the product. ucts may be packaged together forthe same effect Premiums When consumers purchase a set amount of products,they rec eive a gift. Customers receive a free purse if theypurchase b randed perfume. Sweepstak es,games o r contests Sweepstakes are drawings of chance and are free toenter (no purchase required); contests or games maynot be free and req uire skill or are based on bothchance and skill. Companies often hold sweepstakes toincrease br and recognition and sales. Point-ofpurchase(P OP) display orpoint-ofsale(POS) display Specialized sales promotions located in a retail store;they ofte n hold products and are found near the check-out location. A store may set up POP display that holdsbatterie s for a specific brand. Frequency orloyalty p rograms Consumers are rewarded for frequently makingpurchases of a business's products. The airlines often use frequency programs,comm only referred to as frequent flyerprograms. Free trials Provides an opportunity for a customer to try a productbefore buying. A customer may receive a free subscriptionto a m agazine for a short period with thehope that the customer will become apaying customer. Warranties andguaran tees Warranties are assurances about a product or serviceand gu arantees are a promise that the product orservice will perfor m. Some Craftsman hand tools (Sears) will berepaire d or replaced free of charge for thelifetime of the tool. Tiein promoti ons A type of cross promotion in which two or more brands(or co mpanies) join to develop coupons, refunds,contests, rebates, etc. A video game and movie join forces toincrease sa les of both. Cross prom otions One brand is used to advertise or promote anothernoncompet ing product, brand, or service. A fast food chain promotes a children'smovie by providing toys from the movie in akid's meal.
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Explanation & Answer

Attached.

Running head: TYPES OF CONSUMER PROMOTIONS OF A PERFUME

TYPES OF CONSUMER PROMOTIONS FOR A PERFUME
Student’s name:
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TYPES OF CONSUMER PROMOTIONS FOR A PRODUCT

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TYPES OF CONSUMER PROMOTIONS FOR A PERFUME
Introduction
Consumer promotion of a particular product is a marketing strategy done through
an advertisement to attract buyers to purchase the product. It is done for a specified
period of time and it aims to either introduce a new product into the market or increase
market share of that product (Low, 1992). Consumer promotions targets the final buyer
while trade promotions target wholesalers and retailers.

Coupons
First, coupons are vouchers that guarantee holders a specified amount of discount
upon presenting the coupon on the point of sale. The coupons will promote the product
as it will encourage individuals to purchase more (Hardesty & Beard...

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