What are business promotions? Explain any two major business promotion tools and their benefits
What will be an ideal response?
Business promotions are sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople. Many companies and trade associations organize conventions and trade shows to promote their products. Firms selling to the industry show their products at trade shows. Vendors at these shows receive many benefits, such as opportunities to find new sales leads, contact customers, introduce new products, meet new customers, sell more to present customers, and educate customers with publications and audiovisual materials. Trade shows also help companies reach many prospects that are not reached through their sales forces. Sales contests too serve as business promotion tools. A sales contest is a contest for salespeople or dealers to motivate them to increase their sales performance over a given period. Sales contests motivate and recognize good company performers, who may receive trips, cash prizes, or other gifts. Some companies award points for performance, which the receiver can turn in for any of a variety of prizes. Sales contests work best when they are tied to measurable and achievable sales objectives.
You might also like to view...
The retained earnings account is closed at the end of the fiscal year
Indicate whether the statement is true or false
How can Jeannie use a consultative model to sell Meli Kinaua'a swimsuits to boutiques?
A) Find out what needs the boutiques have that Meli Kinaua'a suits will fill. B) Describe the reasons Meli Kinaua'a suits are superior to other lines. C) Work with boutiques to develop new suits that will sell better. D) Consider selling to big-box stores that don't carry swimsuits. E) Give large discounts to get boutiques to try Meli Kinaua'a suits.
How can managers stay up to date with legal changes?
What will be an ideal response?
________ is a provision of the Securities Act of 1933 that imposes civil liability on persons who intentionally defraud investors by making misrepresentations or omissions of material facts in the registration statement
A) Section 24 of the Securities Act of 1933 B) Section 12 of the Securities Act of 1933 C) Section 11 of the Securities Act of 1933 D) SEC Rule 506