Question

Management topic

discuss in details the techniques used by different corporations for promoting their sales. in 300 or 400 words .

Answer 1

Techniques used by different corporations for promoting their sales are as follows-

1. Google promotions- Google my business profile allows business to promote free of cost.

2. Free gifts- provide free something as complementary to customers for example- a restaurant offers free dessert with the purchase of a meal. Massage parlor often offers a free one-hour massage to their regular customers. An electronic store offers free battery to customers.

3. Free samples- by providing free samples to customers in the store, whether they make any purchase or no purchase. Companies generally use this to encourage customers to buy products they may not have considered before. When any company launch new product then they used to adopt this sales promotion technique to encourage sales.

4. Discounted prices- companies like Black Friday and Cyber Monday doing this from a long time. Companies give discounts at special occasions and events to attract large number of customers.

5. Joint promotion- it can be done by two products or brands owned by same company, or between brands owned by different companies. Companies bundled their products and when customer purchase any one other will be free with it.

6. Voucher and coupons- these are generally offered by print media like in newspapers and magazines. Now companies offer these online as well. Businesses can offer coupons and vouchers through e-mails.

7. Social media contests and Giveaways- purchasing a product provides a consumer entry to these giveaways. Companies host contests on social media related to their brand or product and give some free products to winner as an award.

8. Fair-trade, charity products- people generally purchase those products whose values are aligned to their own values. Companies contribute in fair-trade and charity causes to sell their products and make brand image or goodwill of the company for customers.

9. Buy one, get one free- it is the most popular sales promotion technique used by companies. This technique is works for both products and services. It leads to attract new customers in long run.

10. Customer loyalty programs- it is used to retain customers with making sales. For example a customer gets a code for every coffee drink he or she buys and after 5th code, he or she is eligible for a free coffee drink.