Reference no: EM133354130

Sales promotions like refer-a-friend or write a review, allow Freedom Lend to provide additional value for consumers whilst gaining promotional value themselves. This initiative encourages consumers to make a purchase within a specified timeframe to boost sales, for example, promotional price deals to enter a raffle draw to win money off your loan, per referral or post-purchase review. As reported, 82% of consumers optimise online reviews or recommendations via friends when making a purchase. Therefore, this credibility forms a favourable reputation for Freedom Lend which can lead to a purchase, this is known as the affective and behavioural stages of the Hierarchy of Effects

Question

1. Give 2 examples of how sales promotion can be implemented for selling strategy in this campaign

2. Explain how the selling strategy would be beneficial to the target audience.