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2024 WAEC Marketing Theory All enterprises is currently experiencing a decline in sales of its product, List eight promotional...

Marketing
WAEC 2024

All enterprises is currently experiencing a decline in sales of its product,

List eight promotional tools the company uses to reverse its sales trend.

(b) State six benefits the company would derive from using sales promotional tools.

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Explanation

(a) Sales promotional tools the company could use to reverse the sales trend:

 I. Price-off;

II. Coupons;

 III. Loyalty schemes;

 IV. Premium offers;

V. Free samples;

VI. Sweepstakes;

VII. Rebate;

VII. Training schemes;

IX. Trade-in allowance;

 X Jumbo pack/ banded pack/bundle deal;

 

 (b) Benefits of sales promotional tools to AB Enterprises

I. Sales promotion would lead to an increase in the sales volume of the company's products;

II. It would improve customer loyalty to the company's products;

III. It would facilitate a recommendation of the products by consumers to their friends;

IV. It would encourage prospective consumers to try the company's products;

V. It would encourage middlemen to stockpile the company's products;

VI. It would complement other promotional tools used by the company;

VII. It would encourage and improve the company's salesforce performance;

VII. It boosts the company's product brand image;

IX. It would stimulate demand for  the company's product within a short time;

X. It would increase the company's product credibility

 


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