Disadvantages: If sales promotion campaign is not well developed or planned, retailer might not … B Discuss the strengths and weaknesses of sales promotion for the marketing communicator? - Strengths and weaknesses of sales promotion - Strengths and weaknesses of public relations - Effectiveness of the global advertising - Types of media regulation and control in a country 4 11. Weaknesses in the marketing plan invariably lead to disappointing actual sales results. Sales promotion activities are having temporary and short life. d. sales promotion C _____ works by listening to consumers, identifying influential individuals, providing important information, and making it easier for them to spread the word. Strengths and Weaknesses of Promotional Ideas 1. You can use this list of strength words throughout your job search process. Answer. A successful sales promotion has the ability to nurture relationships with consumers through retention and engagement. Imagine yourself in a job interview. Coca Cola sums up its key strengths on its website in the following lines: “The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands and more than 3,800 beverage choices. Throughout the past three decades they have simply been a hamburger and fries Restaurant. These customers have a perception of luxury, quality and exclusivity. One of the reasons for their longstanding achievement is the successful marketing mix that they have been able to achieve as a … With certain types of sales promotions and discounts, it can be difficult to control the nature and timing of purchasing. They represent short-term incentives used by companies to boost sales. At the very least, you'll be clearing storage space in your store or warehouse that could be costing your money. For example, you could display some excess t-shirts near a more expensive blazer, and offer the t-shirt free with every blazer sold. For high-end brands, even the act of holding a sale can alienate customers. Effective at reaching a wide audience. For business it means that items are regularly replenished with items that have been manufactured recently. Even though it was a local radio which is in Hayes, the people that hear about it will … Retailers and distributors must ensure that any sales promotion that is published should be honest, or else your own sales promotion itself will act against your company, possibly tarnishing its reputation. Asked by Wiki User. Factors such as growing competition and consumers becoming more health conscious have forced them to make these changes. List of Strengths & Weaknesses + Professional Answers. Good sales promotion campaign can create good public relation; Sales promotion can be used for competitiveness with rival competitor such as regaining market share. In fact, a promotion is speed up the killing of a bad product. Price sensitivity should encourage the customers to buy things only when promoted into a sale rather than buy at the regular retail price. Growing customer wants and needs along with increased competition has forced them to alter and improve their menu to better fit the environment. Sales promotions should be advertised to let the customers know of the special offer. First, look through the list and circle the strengths that you possess, and that are also important for the job you’re applying for. Top Answer. If it is done too often, it creates price sensitivity among customers. Home / Health / Strengths and Weaknesses of the Marketing Mix Strengths and Weaknesses of the Marketing Mix . Saying you are a perfectionist is not a weakness, however, saying that you often question yourself and overthink project outcomes is. They know how to use a value proposition to full advantage. Although sales promotion is an important strategy for producing quick, short-term, positive results, it is not a cure for a bad product, poor advertising, or an inferior sales team. While discounts may improve volume, they narrow profit margins. If there is a discrepancy between what is advertised and the real deal, it will be viewed negatively by the public. 1. Sales representatives that position themselves at the top stay in touch with their clients. The benefits are also short-­lived for three or four months. Kokemuller has additional professional experience in marketing, retail and small business. Strengths of sales promotion? Weaknesses : Retailer might not cooperate because inefficient sales promotion campaign is seen as a trouble. The strengths and weaknesses of major promotional mix are discussed as follows: Strengths: 1. Sales promotions can be disadvantageous when they are offered quiet regularly. Asked by Wiki User. Wiki User Answered . Advantages and disadvantages of sales promotions, Merits and Demerits of Advertising in Newspapers, FOB vs CIF | Difference between FOB and CIF, Direct Advertising & Direct Mail Advertising | Meaning | Forms, Objectives or benefits of marketing research, Salesperson Training | Advantages | Methods, Weaknesses of Trade Union Movement in India and Suggestion to Strengthen, Audit Planning & Developing an Active Audit Plan – Considerations, Advantages, Good and evil effects of Inflation on Economy, Vouching of Cash Receipts | General Guidelines to Auditors, Audit of Clubs, Hotels & Cinemas in India | Guidelines to Auditors, Depreciation – Meaning, Characteristics, Causes, Objectives, Factors Affecting Depreciation Calculation, Inequality of Income – Causes, Evils or Consequences, Accountlearning | Contents for Management Studies |. In most cases, they will cease to compare alternatives and purchase the item or service that is offered at the best price and quality. Sales promotions can take the form of discounts, percentage-off deals and rebates. Understanding of Value. It’s all about looking for new ways to stay in a client’s mind. One of the most common interview questions that most of us experienced or will experience at some point is “What are your strengths and weaknesses?”.. Please note, this should be different from a strength that you are passing off as a weakness. Personal Selling – Flexible, Highly targeted, interactive and bidirectional, message and presentation … As a result, the limited supply reduces the time before which the customers have to react. 1. In this guide, we’ll explain the reasons behind the question and provide you three strategies for listing your strengths, as well as your weaknesses. Reduced Costs Salespeople may vary in their willingness to make the desired sales calls each day; to make service calls that do not lead directly to sales; or to use new technology, such as a laptop, e-mail, or the company's website. Sales promotions draw attention to a particular product or service being offered. Disadvantages of Personal Selling. Miscommunications. Br… However, there are some weaknesses to be exposed here. In sales, I have found that I am most successful when I pay attention to every piece of the sales cycle, from the first contact to the “thank-you” at the completion of the sale. As with majority of sales promotions, either the dealer or the business that offer the product do not benefit as much like before. Even with an expiration date on a promotion, customers may delay coupon use until the final moments, which delays revenue. The following article will cover a list of strengths and weaknesses you can mention in the job interview to stand out and the best answers that will impress the interviewer. All signs point to you getting the job and you are excited about it. Weaknesses It’s not always low-cost After all this talk about the strengths of paid advertising, you might have thought – let’s go for it immediately! Sales promotion has its own advantages and disadvantages. Sales promotions also enable upselling, where you persuade a customer to buy a more expensive item, and cross-selling, where you sell an associated product to the customer. Advertising is a communication its soul purpose is to inform customers about various products and services and how to obtain and use them. 7. Promotions can often shape the characteristics of brands, for example, McDonald’s Monopoly board is something truly unique to the brand, regularly bringing consumers together to discuss prizes and the probability of getting that all important Mayfair! You are doing all you can to maintain the momentum and not blow it in the last minute. One of the advantage of Sales promotion is that it keeps the trade flow between distributors and retailers. You cannot try to prevent a customer who would pay regular price from taking advantage of a discount in most cases. Sales promotions are vital for companies to increase sales and project their brand names. 3. The first strength of McDonald’s has been their product strategy. Disadvantages. Sales promotion can permit price discrimination. Promotional 1. Strengths and Weaknesses of Personal Selling . The greatest strength of a sales orientation philosophy is the accumulation of immediate short-term sales and customers who are presented the "best deal," as is familiar when buying an automobile. Critically evaluate the strengths and weaknesses of health promotion approaches and methods to reduce the prevalence of contemporary public health issue- Childhood Obesity . Disadvantage of sales promotion 1. Indirect Roles. Then the demand will fall down. Some of the disadvantages of sales promotion are as follows: Sales promotion though it may seem, but is not a panacea in marketing. Brand image is affected by too many sales promotion activities. Sales turnover and encourage mass production of goods are enhanced by advertising that results in large scale production, average cost of production reduces and results in higher profits. While sales promotion is a powerful and effective method to produce immediate short term positive results, it is not a cure for a bad product or bad advertising. What are the strengths and weaknesses of the five main advertising media? It’s also a question, which can be difficult to answer in a way that impresses the interviewer. The real superstars in this line of work understand that selling isn’t just about price. Repetition of main brand and product positioning helps build customer trust. Increasing Market Share. You can gain insights on how it compares with your competitors and how to leverage your unique selling points to get more market shares. When sales promotion is overdosed, the emotion or the need that surrounds them disappears. Wiki User Answered . …., our company’s portfolio features 20 billion-dollar brands, 18 of which are available in reduced-, low- or no-calorie options. Although the company had weaknesses of its financial model, its own strengths still can overcome its weaknesses. The shadow side of this strong detail orientation is my tendency to overthink a situation, which is probably my most serious weakness. The key to success with an effective sales promotion is its irregular supply, and when it is a surprise for the customer. You can look back … Today McDonald’s offers a wide variety of products that consist of 26 items. Get these tactics wring, however, and you could miss vital revenue opportunities or damage the reputation of your brand. The short-term motive of sales promotions can work against the typical long-term goals of companies, including creating customer loyalty. 4. Sales promotions can lead to an increase in market share for the manufacturer. Sales promotion is a calculated risk, but it needs to be carefully planned and managed to be truly effective. 0 1 2. Very often, suppliers / distributors purchase items according to need and how often a commodity is sold. Then someone on the panel drops the bombshell. They distinguish a company from the rest of other in the competition in terms of prices. Companies also use sales promotions to achieve other non-revenue-generating objectives. How to Use This List of Strengths . Sales promotions also enable upselling, where you persuade a customer to buy a more expensive item, and cross-selling, where you sell an associated product to the customer. Even when you don't make a profit, generating cash with the unsold items enables you to meet near-term expense obligations and to buy inventory for the next season. As a result, your market share will increase while your competitors' share decreases. Sales promotion can prove useful for marketers in several ways. You are seated right there in front of the interview panel and everything so far is going well. When used moderately with careful planning, sales promotion increases sales, even after the promotions period is completed. Recommendation. Publicity/Public Relations – Has high credibility; can create goodwill; is low in cost; reaches many audiences, especially difficult-to-reach audiences. First of all, paid advertising is not always low-cost and it can get a lot of money out of your pocket. Sales promotions should be advertised to let the customers know of the special offer. He has been a college marketing professor since 2004. Ossur as a company has stood the test of time by maintaining a strong marketing mix that is accurate for their specific target market. Regularly holding sales could undermine this perception and damage the reputation of your brand. Narrow margins require you to sell a higher volume of goods to generate strong profits. 2. That’s why the Nike Company still can stand stable at No.1 world best sales. When sales promotions are offered for a limited time, they create urgency among customers because they have to act before the promotion expires. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Good for building awareness. It also encourages distributors to buy more items and make sure that they always have an adequate supply of sales, says Dryden. University of Delaware - Alex Brown Curriculum: Chapter 18, Promotion Process, Sales Promotion and Publicity, Class Notes. Vital for companies to increase sales and project their brand names make sure that they always have an adequate of!, this should be advertised to let the customers to buy things only promoted... Increase your sales by offering a lower price and better value proposition the strengths and weaknesses of promotion. 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