Promotional strategies followed in retail sector

PRESENTED BYMD AHTEZAZ PARWAYS

Quick Question

• Name of the retail store.

ANSWER

• Retail company 7-ELEVEN Inc. : Headquarters in Dallas, Texas. Operating Parent Company, Seven Eleven Japan Co. Ltd., is headquartered in Tokyo. Slogan : “Oh, thank heaven for seven eleven.”

Retail Promotion

Any communication by a retailer that informs, persuades, and/or reminds the target market about any aspect of that firm.

Planning a Retail Promotional Strategy

Promotional Objectives Increase sales Stimulate impulse and reminder buying Raise customer traffic Get leads for sales personnel Present and reinforce the retailer image Inform customers about goods and services Popularize new stores and Web sites Capitalize on manufacturer support Enhance customer relations Maintain customer loyalty Have consumers pass along positive

information to friends and others

Quick Question

• Name the diversified German retail group that was established in 1964 by Otto Beisheim and currently the fifth-largest retailer in the world ?

ANSWER

• METRO AG headquartered in Dusseldorf, Germany. The slogan is “Made to Trade”.

Elements of the Promotional Mix

Impersonal PersonalU

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*SEM – Search Engine Marketing

Public Relations Public Relat ions - Any communicat ion t hat

f ost er s a f avor able image f or t he r et ailer among it s publicsNon-per sonal or per sonalPaid or nonpaidSponsor -cont r olled or not

Publicit y – Any non-per sonal f or m of public r elat ions wher eby messages ar e t r ansmit t ed t hr ough mass media, t he t ime or space pr ovided by t he media is not paid f or , and t her e is no ident if ied commer cial sponsor .

AdvertisingPaid, non-per sonal communicat ion

t r ansmit t ed t hr ough out -of -st or e mass media by an ident if ied sponsor .

Medium Newspaper s, Magazines, Flyer s Dir ect Mail, www Television, Radio Billboar ds

Quick Question

• Wal-Mart operates in Mexico as Walmex, in the UK as Asda, in Japan as Seiyu, in Bompreco in Brazil and in India as…?

ANSWER

• Best Price. The first store opened in Amritsar in May 2012.

• Walmart, the number one retail company headquartered in Bentonville, Arizona.

• Slogan: “Save money, Live Better.”

• Founder : Sam Walton

Personal Selling

Or al communicat ion wit h one or mor e pr ospect ive cust omer s f or t he pur pose of making a sale.

Sales Promotion

Encompasses t he paid communicat ion act ivit ies ot her t han adver t ising, public r elat ions, and per sonal selling t hat st imulat e consumer pur chases and dealer ef f ect iveness.

Types of Sales Promotions• POP

• Contests

• Sweepstakes

• Coupons

• Frequent Shopper

• Prizes

• Samples

• Demo

• Referral Gifts

• Retailer Merchandize

• Special Events

SALES MANAGEMENT Ef f or t s put f or t h t o at t ain a company’s sales

obj ect ives. Sales management can involve any of t he f ollowing

act ivit ies: (1) f or mulat ion of sales st r at egy t hr ough

development of account management policies, sales f or ce compensat ion policies, sales r evenue f or ecast s, and sales plan.

(2) implement at ion of sales st r at egy t hr ough select ing, t r aining, mot ivat ing, and suppor t ing t he sales f or ce, set t ing sales r evenue t ar get s.

(3) sales f or ce management t hr ough development and implement at ion of sales per f or mance, monit or ing, and evaluat ion met hods, and analysis of associat ed behaviour al pat t er ns and cost s.