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DedPeter [7]
3 years ago
10

What is a sales promotion

Business
1 answer:
Elenna [48]3 years ago
4 0

Answer:

Sales promotion is a marketing strategy where the product is promoted using short-term attractive initiatives to stimulate its demand and increase its sales.

This strategy is usually brought to use in the following cases  

to introduce new products,

sell out existing inventories,

attract more customers, and

to lift sales temporarily.

You might be interested in
Explain how you will use each of the five P's of the marketing mix to achieve
bulgar [2K]

Answer & Explanation:

To determine the brand image goal, it is essential to identify the targeted market, segments first - who the brand serves and then conduct the market research to understand the demand, the tastes and preferences of the targeted customers.

Based on these information, we can use marketing mix to achieve the goal.

Product

If the brand has already chosen the sector to operate it, it should base on the market taste and demand to determine things related to the product, including: the functions, packaging, appearance, added value for customers, quality, and other supported services (such as warranty). These are information that customers usually consider when they make a purchasing decision. So that the brand should clarify the information about features of products, add benefits that the users can earn from the products.

Price

When determining the pricing strategy, the brand does not only consider the product price but also discounts policy, credit terms, etc. These would base on the position of the brand in the marketplace (in low price, premium or low-medium, etc. and providing high, low or medium quality products, etc.). This bases on the products the brand offers after considering the consumption habit, power of the targeted segments.

Place

Brand has to identify where the products are seen, distributed and purchased so as to approach the largest amount of potential customers. In the place strategy, the prioritized goal is to assure the products are accessible to the targeted customers. (For example, the brand can provide their products at convenient stores if this is the more preferred shopping places of targeted customers.)

Promotion

This refers to the activities to make the brand known more and attract more buyers, including types of advertisement, sponsorship, etc. There are two most common ways of promotion is promote directly the users or promote the distributors (the wholesalers) to import and sell the products of your brand.

People

The people strategy involves in the image of people participated in the brand such as staff, salesperson, other employees. This affects mainly the customer services - which would have considerable impact on the perception of customers about the brand. The people strategy can base on the image they want to target, for example to be basic, friendly or to make the customers feel the vibe of luxurious brand.

3 0
3 years ago
Bristol Company's contribution margin income statement is presented below. Sales for the current period consisted of 7,500 units
avanturin [10]

Answer and Explanation:

The computation is shown below:

The Selling price per unit = $225,000 ÷ 7500 = $30

ANd,  

Variable cost per unit = $135,000 ÷ 7500 = $18

a) Breakeven point = Fixed cost ÷ Contribution margin per unit

= $48,000 ÷ ($30 - $18)

= 4000 units

b) Breakeven dollars = Breakeven point × selling price per unit

= 4000 × 30

= $120,000

C) Margin of Safety in dollars = Sales Revenue - Breakeven dollars

= $225,000 - $120,000

= $105,000

d) Margin of Safety in percent

= $105,000 ÷ $225,000

= 46.67%

5 0
3 years ago
Assume that Jack and Hal and Sophia enter into an agreement for the sale of the restaurant. Hal and Sophia get a loan from the F
QveST [7]

Answer:

The best answer would be C. Fourth National Bank made an assignment.

Explanation:

The Fourth National Bank made an allocation of the loan as it was belonging to the Bank of North America stating that they got a loan.

6 0
4 years ago
Why is the cost of goods sold account part of a trading business only? The cost of goods sold account is part of a trading busin
ELEN [110]

COGS is sometimes referred to as cost of sales and refers to the production costs for products manufactured and sold or purchased and re-sold by the company. These costs are an expense of the business, and they reduce the revenue the company makes from selling its products.

For example, say your business assembles a completed widget from various inventory parts and sells it online for $15. The parts of the widget and the direct labor required to assemble them cost $10.

The $10 cost is deducted from the widget's sale price to determine the gross profit it generates, and the taxes on that profit. The IRS allows you to include a variety of costs in this calculation.  

Cost of goods sold is determined annually by showing changes in the company's balance of "goods" or inventory, from the beginning to the end of the company's fiscal (financial) year, and it is included in the company's income statement. The income statement information is included on the business tax return and used to calculate adjusted gross income as well as net income for tax purposes.

What's Included in Cost of Goods Sold

Cost of goods sold includes the direct cost of producing the product or the wholesale price of goods resold and the direct labor costs to produce the product. Specifically, it can include:

Cost of raw materials.

Cost of items purchased for resale.

Cost of parts used to construct a product.

COGS also includes other direct costs such as labor to produce the product, supplies used in manufacture or sale, shipping costs, costs of containers, freight in, and overhead costs directly related to the manufacture or production activity (like rent and utilities for the manufacturing facility).

Finally, COGS includes indirect costs such as distribution costs and sales force costs that are also directly related to the products the company sells.


8 0
3 years ago
uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for
MakcuM [25]

Answer:C. $6,538

Explanation:

Cost Formulae = $530 + ($114 X  No of Jobs) + ($16 X No. Of meals)

Budgeted Activity for October = 20 jobs , 233 Meals

The Catering Supplies in the flexible Budget would be for October becomes :

= $530 + ($114  X 20) + ($16 X 233)

= $530 + $2280 + $3,728

= $6,538

6 0
4 years ago
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