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Unit 4 Objective 4.08

Unit 4 Objective 4.08. Employing sales-promotion activities to inform or remind customers of business/product. Identify “out-of-the-box” sales promotion ideas. SALES PROMOTION. STIMULATION OF SALES achieved through contests, discounts , giveaways , special offers, and similar activities

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Unit 4 Objective 4.08

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  1. Unit 4Objective 4.08 Employing sales-promotion activities to inform or remind customers of business/product

  2. Identify “out-of-the-box” sales promotion ideas

  3. SALES PROMOTION • STIMULATION OF SALES achieved through contests, discounts, giveaways, special offers, and similar activities • SALES PROMOTION is a major part SEM • INDUSTRY IS SO HIGHLY COMPETITIVE • Customers have endless possibilities to spend money • Helps customers decide to spend that money with them over the competition • “OUT-OF-THE-BOX” Sales Promotions • NO PARTICULAR TECHNIQUE- UNIQUE!! • Using regular methods = inside the box!

  4. OUT-OF-THE BOX STEPS • STEPS: • PREPARE FOR INSPIRATION • Know target market • Knowing your competition • means taking their ideas and improving on them • Putting a new twist on an old idea • Brainstorming • DETERMINE INCENTIVE • "What does this sales promotion offer to customers?" • A chance to save money? A free sample or gift? • DETERMINING DELIVERY • Deciding how to "package" the incentive • A coupon? A contest? • DETERMINING HOW TO GET THE NEWS OUT • deciding how you will let your customers know it

  5. Implement ticket sales campaign

  6. TICKET PRICING STRATEGIES(4.07) • SCALING THE HOUSE • Pricing tickets differently based on • Location of seat • Time of purchase • YIELD-MANAGEMENT PRICING • Maximize revenue with venues with limited capacity • Venues with limited seating price tickets differently to have greater revenue potential

  7. TICKET SALES CAMPAIGN • Sales campaign to encourage the sale of tickets to a certain event • IMPLEMENTATION- must consider: • IMMEDIATE ACCESSIBILITY • Consumers expect to order and pay for tickets right away • THEME • Make the campaign unique and stand out • TECHNOLOGY • Most consumers purchase on the internet • Making this option available will increase sales

  8. Quiz Preview • #25 Chris works in marketing for a senior citizen’s golf league. He suggests an “out-of-the-box” sales promotion in which the league participants receive discount coupons to the local water park, but his boss does not think that is such a good idea. What question did Chris fail to ask himself about the idea? • Does this sales promotion fit with the overall marketing plan? • Does this sales promotion reach my target market? • What is the incentive I’m offering? • Is this sales promotion creative? • #27 When asking “how will my customers know about this sales promotion” I am in what stage of developing an “out-of-the-box” sales promotion? • Determining creativity • Determining delivery • Determining incentive • Determining how to get the news out • #31 When is a good time to start selling tickets for your event? • When ticket demand is low • When event planning begins • When ticket demand is high • On the last day of the month • #34 Which of the following is a consideration when implementing a ticket sales campaign: • Name recognition • Seating arrangement • Immediate accessibility • Organized hospitality • #39 Sales promotion is a major part of sport/event marketing because • the most important task in sport/event marketing is ticket sales. • there aren't very many sport/event customers. • the industry is so highly competitive. • the industry can get very boring.

  9. Unit 4 Project Part 7 • As the Marketing Coordinator of a NC Venue, it is your responsibility to create an “Out-of-the-Box” sales promotion for your upcoming event. • To compete with other local events you are to create a unique, unconventional sales idea: • Slide 8: Out-of-the-Box Promotion • PREPARE FOR INSPIRATION • How will you inspire your target market? • What is your competition doing to promote their event? • Possibly take their ideas and improving on them • (OR) Put a new twist on an old idea • Be creative and brainstorm • DETERMINE INCENTIVE • "What does this sales promotion offer to customers?" • A chance to save money? A free sample or gift? • DETERMINING DELIVERY • Deciding how to "package" the incentive • A coupon? A contest? • DETERMINING HOW TO GET THE NEWS OUT • deciding how you will let your customers know it • Continue along with Unit 4 Project Part 6. Complete and submit to Edmodo by the end of class.

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