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    October 30

    Methods of Below the Line sales promotion

    1. Price promotions
    Price promotions are also commonly known as" price discounting". These can be done in two ways:
    (a) A discount to the normal selling price of a product, or
    (b) More of the product at the normal price.
    Price promotions however can also have a negative effect by spoiling the brand reputation or just a temporary sales boost (during the discounts) followed by a lull when the discount would be called off.

    2. Coupons
    Coupons are another, very versatile, way of offering a discount. Consider the following examples of the use of coupons:
    - On a pack to encourage repeat purchase - In coupon books sent out in newspapers allowing customers to redeem the coupon at a retailer - A cut-out coupon as part of an advert - On the back of till receipts
    The key objective with a coupon promotion is to maximize the redemption rate – this is the proportion of customers actually using the coupon.
    It must be ensured when a company uses coupons that the retailers must hold sufficient stock to avoid customer disappointment.
    Use of coupon promotions is often best for new products or perhaps to encourage sales of existing products that are slowing down.

    3. Gift with purchase
    The "gift with purchase" is a very common promotional technique. In this scheme, the customer gets something extra along with the normal good purchased. It works best for
    - Subscription-based products (e.g. magazines) - Consumer luxuries (e.g. perfumes)

    4. Competitions and prizes
    This is an important tool to increase brand awareness amongst the target consumer. It can be used to boost up sales for temporary period and ensure usage amongst first time users.

    5. Money refunds
    Here, a customer receives a money refund after submitting a proof of purchase to the manufacturer. Customers often view these schemes with some suspicion – particularly if the method of obtaining a refund looks unusual or onerous.

    6. Frequent user / loyalty incentives
    Repeat purchases may be stimulated by frequent user incentives. Perhaps the best examples of this are the many frequent flyer or user schemes used by airlines, train companies, car hire companies etc.

    7. Point-of-sale displays
    Shopping habits are changing for the people living in metropolitan cities. People prefer big retail outlets like Big Bazaar to local kirana stores. Most of the decisions of buying are taken by the virtue of point-of-sale displays in these retail outlets.
    October 17

    Discover Yourself

     

     

    "My advice to you, whoever you may be.
    Oh! You who desire to explore the mysteries of nature.

    If you do not discover within yourself what you seek,

    neither will you find it without.

    If you ignore the excellencies of your own house,

    how can you aspire to find excellencies elsewhere?

    Within you is hidden the treasure of treasures.
    Oh! Man, know thyself and you will know the Universe and the Gods."

     

    (Inscription at the entrance of the Temple of Delphi in Greece)