Promotions are not a “retail only” endeavor. Many promotional methods coincide with national advertising campaigns. This generates support and enhances the effectiveness of these campaigns. There are 3 common promotional methods Trade Allowances Trade allowances push products down the distribution channel by providing discounts or other reimbursements to retailers that promote certain items. For example, […]
Sales promotions operate within advertising campaigns to motivate customers to visit the store and/or buy the product. By encouraging customers to buy items at a specific time and place, the consumer buying process is accelerated. For example, when brand advertising is combined with sales promotions, consumers are informed about the product or service while prompted […]
Six common steps Identify Target Market All marketing / advertising should be market driven. Define Objectives Most creative decisions will be based on the objectives. Knowing what needs to be accomplished is crucial in determining execution. Determine a budget Spend too little, the campaign will fail. Spend too much, and the money is wasted. Select […]
Keep in mind that Public Relations play a vital role in any ad campaign. An effective PR effort generates credible publicity to support your advertising message, and is often used as a non-paid form of advertising since the public often regards the press as a more-credible source of information. To that end, PR campaigns often […]
Generally, there are 2 Pushing This involves encouraging distribution partners to stock more inventory (buy more product). For example, a paper clip manufacturer’s sales rep (personal sales) might offer Staples a Trade Discount. Staples might turn around and offer a sale on paper clips that month to generate more foot traffic. Pulling The same manufacturer […]
Having a great product at the right price in the right store at the right time means nothing if nobody knows it’s there. Communicating the features and benefits of the product and informing the target market where to find it falls to the promotion element of the marketing mix. Promotional messages should support the theme […]
Retail sales require a lot more “theater” than wholesale. A focused marketing attitude and an appealing environment are required. To this end, there are 5 considerations Merchandise The types and variety of products / services offered is a key element in how your store is perceived by the consumer. For example, bigger stores such as […]
The top 5 criteria are Product Management Ability Take a look at the reputation of the wholesaler. What policies and procedures do they have in place to manage products? Will they cooperate in implementing management suggestions? Facilities and Resources Are the facilities maintained and up to date? What is their training like? These questions can […]
The intermediaries, or distribution partners are also known collectively as resellers. Generally, there are 2 types. Wholesalers (4 categories) Merchant Wholesalers These are independent companies who buy products from factories and sell them to other wholesalers, manufacturers or retailers. Full-Service Merchant Wholesalers provide additional services, such as packaging, advertising and warehousing. Limited-Service Merchant Wholesalers provide […]
A solid distribution strategy can improve service, enhance a company’s reputation, and increase their market share. To this end, a good distribution strategy tries to do 3 things Meet Customer demands Building a quality product with lots of cool features that is sold at a low price means nothing if that item is unavailable when […]
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