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Answer» There are various techniques of promoting the sale. Some of these are discussed below: 1. Sale: When the product is genuinely offered at lower price than its actual price for a limited period of time, it is known as sale. Generally, such technique is used by business units to reduce closing stock. 2. Discount: When actual price charged for a product is less than its original price it is known as discount. Discount is mostly offered for products that are slightly defective. This attracts a large number of customers. 3. Advertisement coupon: - A coupon printed in newspaper or circulated through pamphlet or some other modes where in the consumer is given discount on producing the coupons to the seller is called an advertisement coupon.
- There are two objectives of advertisement coupons, first to check how well is the sale response by offering such coupons and second to provide discount to the one who produces the coupons to the seller.
4. Gift: - Sometimes a small gift is given along with the main product. For example, giving 1 soap free on purchasing 3 soap bars.
- Sometimes the producer gives more quantity for the same price as a part of gift. For example, giving 20% more detergent at the same price.
5. Additional gift: - The producer assesses the needs of the consumers and offers additional gifts along with the main product to lure them. For example, giving toothbrush free on purchase of a toothpaste.
- Sometimes, product not related with the main product is also given as a gift. For example, offering a toy as a gift in a snack pack.
6. Lucky draw: In this technique the customer is given a coupon as a code and on a particular day results are declared. The person whose coupon number gets selected in the lucky draw gets a gift. For example, Bharat petroleum gives prize winning coupons on buying of petrol of ^200/- or more. 7. Facility of interest-free loans: - Interest-free loan is a loan where in the consumer who buys a product on loan does not need to pay interest.
- This technique is used when the product is high priced and the customer cannot afford to pay the amount all together. For example, interest-free loans is given for purchasing T.V., refrigerators, 2-wheelers, etc.
- In such type of loans, the consumer can take the product to his house after paying a small payment known as down-payment. He needs to pay the balance amount in the form of monthly installments which are interest-free.
- Since, no interest is charged, the consumer gets easily attracted and motivated to purchase the product.
8. Distributing samples: - Sometimes, small samples are distributed to people so that they can check the product and purchase if they like it.
- Sellers distribute samples of shampoo, soap, oil, pickles, jam, etc. in small sachet.
9. Organizing competitions: In this concept, during the new product launch, the producers organize competition in order to promote their new product. For example, the company making crayons for children would collect information about the customer by organizing drawing competition for them before launching new colours in the market. Here the winner gets the new product as a prize.
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