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Sales Promotion Strategy
Sales promotion is a form of marketing, usually aimed either at the distribution channel or targeted customers. It is predominantly used for introducing a new product in the market, attracting traffic, stock clearance, and to boost sales in the short-term. It is mostly associated with the marketing of products than services. The necessity of sales promotion strategies emanates from the intense competition in the marketplace hence sellers have to devise strategies to attract the customer’s attention.
The Sales Promotion Strategy covers product awareness in order to generate interest. Marketers find sales promotions to be very effective to generate people’s interest in a product or service. Sales promotions can significantly boost customer traffic. Sales promotion mechanisms are generally designed to move consumers to action through stimulation of demand. A Sales promotion strategy also seeks to reinforce brands.
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|Syllabus Indicative Content|
|1|| Introduction to fundamentals and Objectives and sales promotion |
Identifying sales gaps and solutions
Performing sales promotion by differentiating your product
Publicity and Public Relations
Internet and Interective media
Budgeting for sales and promotions
|Units||Sales Simulations||Sample Exercises||Key Takeaways|
|UNIT 01||Introduction to fundamentals and Objectives and sales||Unique Selling proposition|| Selling exercise |
|Identify your selling strengths and weaknesses|
Manage the transfer of liability/ exchange of goods
Close the deal
|Conduct a sale|
|Feedback by customers|
|UNIT 02||Identifying sales gaps||Discovering sales gaps and exploiting them||Launching a sale||Generate value when there areobjections|
Overcoming objections with positive feedback from customers
Realising solutions from your own product
|UNIT 03||Differentiation process||Unique selling propositions (USP)|| ||Converting customers to your own camp||Conversion of difficult customers|
|Understanding styles of converting difficult customers|