Marketing_L11(2013-2014)

Steps in the Selling Process

5. Handling objec&ons

A salesperson seeks out, clarifies, and overcomes any customer objec&ons to buying.

6. Closing

A salesperson asks the customer for an order.

7. Follow-up

A salesperson follows up aUer the sale to ensure customer sa&sfac&on and repeat business.

Sales Promo&on

Short-term incen&ves to encourage the purchase or sale of a product or a service.

The Rapid Growth of Sales Promo2on

•  Consumer promo2ons

•  Trade promo2ons

•  Business promo2ons

•  Sales force promo2ons

Sales promo)on accounts for 77 percent of all marke)ng expenditures.

Major Sales Promo2on Tools

Consumer promo)ons

•  samples

•  coupons

•  refunds

•  price packs

•  Premiums

•  Adver&sing special&es

•  point-of-purchase displays

•  contests

•  sweepstakes

•  event sponsorships

2. Objec)ves

•  Direct marke&ng and benefits to customers and companies.

•  The major forms of direct marke&ng.

•  How companies have responded to the Internet and other powerful new technologies with online marke&ng strategies.

•  How companies go about conduc&ng online marke&ng to profitably deliver more value to customers.

Direct marke&ng

•  The New Direct Marke&ng Model

Companies such as GEICO have built their en2re approach to the marketplace around direct marke2ng: Just visit geico.com or call 1-800-947-AUTO.

Growth and Benefits of Direct

Marke&ng

•  Companies spent $149.3 billion on direct marke&ng last year, 54 percent of the total dollars spent on adver&sing.

•  Expenditures generated an es&mated $1.2 trillion in direct marke&ng sales, which is about 8 percent of total sales in the U.S. economy.

•  Web-oriented, and Internet marke&ng is claiming a fast-growing share of marke&ng spending and sales($23 billion on online adver&sing)

Benefits of Direct Marke2ng

Benefits to Buyers

•  convenient, easy, and private.

•  ready access to a wealth of products

•  access to a wealth of compara&ve informa&on about companies, products, and compe&tors

•  immediate and interac&ve

Benefits to Sellers

•  powerful tool for building customer rela&onships

•  a low-cost, e cient, speedy alterna&ve for reaching their markets

•  lower costs, improved e ciencies, and speedier handling of channel and logis&cs func&ons

•  Flexibility(ongoing adjustments to prices and programs or make immediate, &mely, and personal announcements and o ers)

•  access to buyers that they could not reach through other channels

Forms of Direct Marke&ng