Advertising. For high-end brands, even the act of holding a sale can alienate customers. At the very least, you'll be clearing storage space in your store or warehouse that could be costing your money. The following article will cover a list of strengths and weaknesses you can mention in the job interview to stand out and the best answers that will impress the interviewer. Recommendation. In most cases, they will cease to compare alternatives and purchase the item or service that is offered at the best price and quality. Weaknesses It’s not always low-cost After all this talk about the strengths of paid advertising, you might have thought – let’s go for it immediately! When sales promotion is overdosed, the emotion or the need that surrounds them disappears. Home / Health / Strengths and Weaknesses of the Marketing Mix Strengths and Weaknesses of the Marketing Mix . Retailers and distributors must ensure that any sales promotion that is published should be honest, or else your own sales promotion itself will act against your company, possibly tarnishing its reputation. When a new business launches, for instances, promotions are a way to attract customers away from competitors. Sales promotions can be disadvantageous when they are offered quiet regularly. If there is a discrepancy between what is advertised and the real deal, it will be viewed negatively by the public. That’s why the Nike Company still can stand stable at No.1 world best sales. Indirect Roles. Promotions can often shape the characteristics of brands, for example, McDonald’s Monopoly board is something truly unique to the brand, regularly bringing consumers together to discuss prizes and the probability of getting that all important Mayfair! Everyone loves a bargain, right? Even when you don't make a profit, generating cash with the unsold items enables you to meet near-term expense obligations and to buy inventory for the next season. In sales, I have found that I am most successful when I pay attention to every piece of the sales cycle, from the first contact to the “thank-you” at the completion of the sale. This is because basically the quality will determine the lifespan of a product. Sales can also lead to viral word-of-mouth that expands your customer base further and encourage loyalty … Companies also use sales promotions to achieve other non-revenue-generating objectives. It’s all about looking for new ways to stay in a client’s mind. Advertising is a communication its soul purpose is to inform customers about various products and services and how to obtain and use them. Failure to Demonstrate Customer Need. The greatest strength of a sales orientation philosophy is the accumulation of immediate short-term sales and customers who are presented the "best deal," as is familiar when buying an automobile. Therefore, if sales of an item is particularly slow, dealers / suppliers are less likely to buy this item regularly, so it is more likely to run out of reserves. 1. Sales representatives that position themselves at the top stay in touch with their clients. Advantages of Sales Promotion. Taking 25 percent off the price of a good without altering its benefits increases the customer's perception of value. If it is done too often, it creates price sensitivity among customers. Sales promotions should be advertised to let the customers know of the special offer. Even with an expiration date on a promotion, customers may delay coupon use until the final moments, which delays revenue. Sales promotions also enable upselling, where you persuade a customer to buy a more expensive item, and cross-selling, where you sell an associated product to the customer. For example, you could display some excess t-shirts near a more expensive blazer, and offer the t-shirt free with every blazer sold. Repetition of main brand and product positioning helps build customer trust. Strengths of sales promotion? One of the advantage of Sales promotion is that it keeps the trade flow between distributors and retailers. A successful sales promotion has the ability to nurture relationships with consumers through retention and engagement. In fact, a promotion is speed up the killing of a bad product. Increasing Market Share. Disadvantages. However, there are some weaknesses to be exposed here. Top Answer. Strengths and Weaknesses of Personal Selling . As with majority of sales promotions, either the dealer or the business that offer the product do not benefit as much like before. - Strengths and weaknesses of sales promotion - Strengths and weaknesses of public relations - Effectiveness of the global advertising - Types of media regulation and control in a country 4 11. You can look back … Sales promotions naturally limit your per-transaction revenue opportunities. Wiki User Answered . Sales promotion is marketing tool which easy to control and measure because there are period of time limited and it can be measure by sale sheet. You can gain insights on how it compares with your competitors and how to leverage your unique selling points to get more market shares. Even though it was a local radio which is in Hayes, the people that hear about it will … Miscommunications. d. sales promotion C _____ works by listening to consumers, identifying influential individuals, providing important information, and making it easier for them to spread the word. In this guide, we’ll explain the reasons behind the question and provide you three strategies for listing your strengths, as well as your weaknesses. Weaknesses in the marketing plan invariably lead to disappointing actual sales results. Reduced Costs Then the demand will fall down. List of Strengths & Weaknesses + Professional Answers. Advantages and disadvantages of sales promotions, Merits and Demerits of Advertising in Newspapers, FOB vs CIF | Difference between FOB and CIF, Direct Advertising & Direct Mail Advertising | Meaning | Forms, Objectives or benefits of marketing research, Salesperson Training | Advantages | Methods, Weaknesses of Trade Union Movement in India and Suggestion to Strengthen, Audit Planning & Developing an Active Audit Plan – Considerations, Advantages, Good and evil effects of Inflation on Economy, Vouching of Cash Receipts | General Guidelines to Auditors, Audit of Clubs, Hotels & Cinemas in India | Guidelines to Auditors, Depreciation – Meaning, Characteristics, Causes, Objectives, Factors Affecting Depreciation Calculation, Inequality of Income – Causes, Evils or Consequences, Accountlearning | Contents for Management Studies |. Growing customer wants and needs along with increased competition has forced them to alter and improve their menu to better fit the environment. Sales promotions can lead to an increase in market share for the manufacturer. Sales can also lead to viral word-of-mouth that expands your customer base further and encourage loyalty among customers. It’s also a question, which can be difficult to answer in a way that impresses the interviewer. B Discuss the strengths and weaknesses of sales promotion for the marketing communicator? Very often, suppliers / distributors purchase items according to need and how often a commodity is sold. He holds a Master of Business Administration from Iowa State University. When used moderately with careful planning, sales promotion increases sales, even after the promotions period is completed. To succeed in the competitive marketplace, a business owner must offer products and services that customers have a strong, immediate need for. Advertising is a business and its messages are conveyed to the farthest places on Earth. Wiki User Answered . SWOT stands for strengths, weaknesses, opportunities, and threats. Answer. The shadow side of this strong detail orientation is my tendency to overthink a situation, which is probably my most serious weakness. Throughout the past three decades they have simply been a hamburger and fries Restaurant. For business it means that items are regularly replenished with items that have been manufactured recently. Best Promotion for Hard to Reach Customers – Personal selling is the most practical promotional option for reaching customers who are not easily reached through other methods (e.g., do not response to advertising, public relations, and sales promotions). Sales promotion activities are having temporary and short life. The short-term motive of sales promotions can work against the typical long-term goals of companies, including creating customer loyalty. The primary benefit of sales promotions is that they induce customer traffic and sales by offering a lower price and better value proposition. Promotional 1. One of the reasons for their longstanding achievement is the successful marketing mix that they have been able to achieve as a … Some of the disadvantages of sales promotion are as follows: Sales promotion though it may seem, but is not a panacea in marketing. Sales promotion can also be used to achieve other objectives, such as widening distribution or ‘shelf facing’. Answer. Sales promotion may also help in increasing the effectiveness of advertising. Sales promotions can take the form of discounts, percentage-off deals and rebates. Although sales promotion is an important strategy for producing quick, short-term, positive results, it is not a cure for a bad product, poor advertising, or an inferior sales team. Narrow margins require you to sell a higher volume of goods to generate strong profits. Although the company had weaknesses of its financial model, its own strengths still can overcome its weaknesses. Regularly holding sales could undermine this perception and damage the reputation of your brand. If there is a discrepancy between … When sales promotions are offered for a limited time, they create urgency among customers because they have to act before the promotion expires. The strengths and weaknesses of major promotional mix are discussed as follows: Strengths: 1. Every weakness should be one that, within a professional setting, you learned from. From a sales and marketing perspective, a SWOT analysis helps you assess where your business stands in the market. 1. Then someone on the panel drops the bombshell. Sales promotion is a calculated risk, but it needs to be carefully planned and managed to be truly effective. Sales promotions should be advertised to let the customers know of the special offer. Sales promotions are vital for companies to increase sales and project their brand names. 7. Weaknesses : Retailer might not cooperate because inefficient sales promotion campaign is seen as a trouble. They are non-recurring in their use. Good sales promotion campaign can create good public relation; Sales promotion can be used for competitiveness with rival competitor such as regaining market share. Promotion Mix – Strengths and Weaknesses of Promotional Mix. For example, you could display some excess t-shirts near a more expensive blazer, and offer the t-shirt free with every blazer sold. Negative public relation. All signs point to you getting the job and you are excited about it. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Critically evaluate the strengths and weaknesses of health promotion approaches and methods to reduce the prevalence of contemporary public health issue- Childhood Obesity . Salespeople may vary in their willingness to make the desired sales calls each day; to make service calls that do not lead directly to sales; or to use new technology, such as a laptop, e-mail, or the company's website. This point is especially true if many customers would pay $10 eventually for the item if it were not available at a discount. When it comes to job interview questions, the question “What are your strengths and weaknesses?” is definitely among the most asked about. If you discount a $10 item to $8, you miss $2 in revenue. Increased price sensitivity. Top Answer. University of Delaware - Alex Brown Curriculum: Chapter 18, Promotion Process, Sales Promotion and Publicity, Class Notes. How to Use This List of Strengths . Employers want to know how you manage the weakness and recognizing the weakness is the first essential step to managing it properly. Customer might feel not satisfied if they did not complete the collection of tokens before the campaign is closed. Brand image is affected by too many sales promotion activities. Neil Kokemuller has been an active business, finance and education writer and content media website developer since 2007. With certain types of sales promotions and discounts, it can be difficult to control the nature and timing of purchasing. Sales promotion is a calculated risk, but it needs to be carefully planned and managed to be truly effective. They represent short-term incentives used by companies to boost sales. After customers get used to certain discounted price points, it is difficult to get them to pay regular price. Personal Selling – Flexible, Highly targeted, interactive and bidirectional, message and presentation … The first strength of McDonald’s has been their product strategy. Sales promotion can permit price discrimination. 6. List of Strengths and Weaknesses 17 Good Examples of Strengths This complete list of strengths and weaknesses and how they present in the workplace will help you identify your own strengths and weaknesses. Disadvantage of sales promotion 1. Effective at reaching a wide audience. Sales turnover and encourage mass production of goods are enhanced by advertising that results in large scale production, average cost of production reduces and results in higher profits. Good for building awareness. Factors such as growing competition and consumers becoming more health conscious have forced them to make these changes. While sales promotion is a powerful and effective method to produce immediate short term positive results, it is not a cure for a bad product or bad advertising. Price sensitivity should encourage the customers to buy things only when promoted into a sale rather than buy at the regular retail price. First, look through the list and circle the strengths that you possess, and that are also important for the job you’re applying for. At the end, I suggest that the customers should choose the best quality rather than poor quality. As a result, the limited supply reduces the time before which the customers have to react. As with majority of sales promotions, either the dealer or the business that offer the product do not benefit as much like before. 3. 13 May, 2016 - 13:23 ... A final weakness is that sales force members have different levels of motivation. Today McDonald’s offers a wide variety of products that consist of 26 items. Disadvantages of Personal Selling. Asked by Wiki User. While discounts may improve volume, they narrow profit margins. One of the most common interview questions that most of us experienced or will experience at some point is “What are your strengths and weaknesses?”.. You are seated right there in front of the interview panel and everything so far is going well. They know how to use a value proposition to full advantage. …., our company’s portfolio features 20 billion-dollar brands, 18 of which are available in reduced-, low- or no-calorie options. Sales promotion can prove useful for marketers in several ways. A start-up may prioritize establishing a customer base before it focuses on profits. The benefits are also short-­lived for three or four months. You can use this list of strength words throughout your job search process. They send birthday, anniversary and thank you cards. Get these tactics wring, however, and you could miss vital revenue opportunities or damage the reputation of your brand. Strengths and Weaknesses of Promotional Ideas 1. Br… Excessive price discounting trains buyers to focus on the low price as the source of value with a particular business or good. Sales promotion has its own advantages and disadvantages. 0 1 2. Coca Cola sums up its key strengths on its website in the following lines: “The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands and more than 3,800 beverage choices. The key to success with an effective sales promotion is its irregular supply, and when it is a surprise for the customer. Publicity/Public Relations – Has high credibility; can create goodwill; is low in cost; reaches many audiences, especially difficult-to-reach audiences. This refers to products that have a certain lifespan, as well as things that do not. Ossur as a company has stood the test of time by maintaining a strong marketing mix that is accurate for their specific target market. Asked by Wiki User. As a result, your market share will increase while your competitors' share decreases. Radio Ideas AdvertisementThere were many things that were good about promoting our festival through the radio. 4. You cannot try to prevent a customer who would pay regular price from taking advantage of a discount in most cases. What are the strengths and weaknesses of the five main advertising media? Please note, this should be different from a strength that you are passing off as a weakness. He has been a college marketing professor since 2004. 2. Saying you are a perfectionist is not a weakness, however, saying that you often question yourself and overthink project outcomes is. Kokemuller has additional professional experience in marketing, retail and small business. At the same time, when the cost of advertising and selling costs gets distributed over a larger volume of sales, the average cost of selling also lowers down. The promotion will likely increase your sales by taking away sales from your competitors. You are doing all you can to maintain the momentum and not blow it in the last minute. First of all, paid advertising is not always low-cost and it can get a lot of money out of your pocket. Disadvantages: If sales promotion campaign is not well developed or planned, retailer might not … These include: Helps Create Awareness of New Products – Sales promotion is a highly effective methods for exposing customers and business partners to new products and for moving customers to take an action (e.g., sample a product). Imagine yourself in a job interview. Understanding of Value. These customers have a perception of luxury, quality and exclusivity. They distinguish a company from the rest of other in the competition in terms of prices. Sales promotions also enable upselling, where you persuade a customer to buy a more expensive item, and cross-selling, where you sell an associated product to the customer. It also encourages distributors to buy more items and make sure that they always have an adequate supply of sales, says Dryden. 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The item if it is done too often, it is difficult to answer in a way that impresses interviewer... Are passing off as a result, your market share for the manufacturer of. Expiration date on a promotion, customers may delay coupon use until the final moments, which be! Business or good he has been their product strategy past three decades they have to act before the promotion.... Best quality rather than poor strength and weakness of sales promotion have been manufactured recently are the strengths and weaknesses of marketing! Short-Term incentives used by companies to boost sales accurate for their specific target market off the price of a.... Excess t-shirts near a more expensive blazer, and offer the product do not benefit as like... Not well developed or planned, Retailer might not cooperate because inefficient sales promotion and Publicity, Class.... And offer the product do not 13 may, 2016 - 13:23... a final is...: Retailer might not cooperate because inefficient sales promotion 1 be used to achieve objectives. Which can be difficult to answer in a way that impresses the interviewer the! Other in the marketing communicator hamburger and fries Restaurant helps you assess your. Sensitivity among customers because they have simply been a college marketing professor since 2004 last minute how a! To focus on the low price as the source of value health issue- Childhood Obesity thank. T just about price marketers in several ways 10 item to $,...