Reference no: EM131565431 , Length: 4
The Product I would like to talk about is one of the following; Pepsi, Doritos,or Apple Watch,
Let me know what works the table is below need to describe 7 of the consumer promotions.
Select one product. In a two- to four-page paper (excluding the title and reference pages), describe the seven different types of consumer promotions shown in Table 6.2 of the text and assess how each of the seven types would be applied to your product.
Determine which strategy is the most effective and explain why.
The paper
Must be two- to four double-spaced pages in length (excluding the title and reference pages) and formatted according to APA style as outlined in the Links to an external site.
Must include a separate title page with the following:
Title of paper
Student's name
Course name and number
Instructor's name
Date submitted
Must use at least two scholarly sources in addition to the course text.
Must document all sources in APA style as outlined in the
Must include a separate references page that is formatted according to APA style
Table 6.2 Types of consumer promotions
Type Description Example
Coupons A document that can be exchanged for a discount off the priceof a product or service On many websites, there are printable couponsthat can be redeemed online or in store.
Sampling A free sample of the product is provided; this may be done atpoint-of-sale, or it may be done through the Internet, mail,attached to a product, or through an advertisement A company representative cooks sausage at alocal market and gives out free samples tocustomers in the store.
Cash refunds orrebates Return, reduction, or refund on the purchase price of aproduct or service Customers buying three boxes of cereal willreceive a $2 refund in the mail if they send aform and proof of purchase to the manufacturer.
Cents-off Tagging a product's package with a discount off the regularprice of the product which can be peeled off; many times twoproducts may be packaged together for the same effect A person buying a razor may find an attachedpeel-off coupon that gives 50 cents off theproduct.
Premiums When consumers purchase a set amount of products, theyreceive a gift. Customers receive a free purse if they purchasebranded perfume.
Sweepstakes,games or contests Sweepstakes are drawings of chance and are free to enter (nopurchase required); contests or games may not be free andrequire skill or are based on both chance and skill. Companies often hold sweepstakes to increasebrand recognition and sales.
Point-of-purchase(POP) display orpoint-of-sale (POS)display Specialized sales promotions located in a retail store; theyoften hold products and are found near the check-outlocation. A store may set up POP display that holdsbatteries for a specific brand.
Frequency orloyalty programs Consumers are rewarded for frequently making purchases of abusiness's products. The airlines often use frequency programs,commonly referred to as frequent flyerprograms.
Free trials Provides an opportunity for a customer to try a productbefore buying. A customer may receive a free subscription to amagazine for a short period with the hope thatthe customer will become a paying customer.
Warranties andguarantees Warranties are assurances about a product or service and guarantees are a promise that the product or service willperform. Some Craftsman hand tools (Sears) will berepaired or replaced free of charge for thelifetime of the tool.
Tie-in promotions A type of cross promotion in which two or more brands (orcompanies) join to develop coupons, refunds, contests,rebates, etc. A video game and movie join forces to increasesales of both.
Cross promotions One brand is used to advertise or promote anothernoncompeting product, brand, or service. A fast food chain promotes a children's movie byproviding toys from the movie in a kid's meal.