4.08 Employ sales-promotion activities to inform or remind customers of business/product

Identify “out-of-the-box” sales promotion ideas

SALES PROMOTION STIMULATION OF SALES achieved through contests, discounts, giveaways, special offers, and similar activities SALES PROMOTION is a major part SEM – INDUSTRY IS SO HIGHLY COMPETITIVE Customers have endless possibilities to spend money Helps customers decide to spend that money with them over the competition “OUT-OF-THE-BOX” Sales Promotions – NO PARTICULAR TECHNIQUE- UNIQUE!! Using regular methods = inside the box!

OUT-OF-THE BOX STEPS STEPS: – PREPARE FOR INSPIRATION Know target market Knowing your competition – means taking their ideas and improving on them Putting a new twist on an old idea Brainstorming – DETERMINE INCENTIVE "What does this sales promotion offer to customers?" – A chance to save money? A free sample or gift? – DETERMINING DELIVERY Deciding how to "package" the incentive – A coupon? A contest? – DETERMINING HOW TO GET THE NEWS OUT deciding how you will let your customers know it

Implement ticket sales campaign

TICKET PRICING STRATEGIES (4.08) SCALING THE HOUSE – Pricing tickets differently based on Location of seat Time of purchase – YIELD-MANAGEMENT PRICING Maximize revenue with venues with limited capacity – Venues with limited seating price tickets differently to have greater revenue potential

TICKET SALES CAMPAIGN Sales campaign to encourage the sale of tickets to a certain event IMPLEMENTATION- must consider: – IMMEDIATE ACCESSIBILITY Consumers expect to order and pay for tickets right away – THEME Make the campaign unique and stand out – TECHNOLOGY Most consumers purchase on the internet Making this option available will increase sales