Trade promotion: sales promotion tools used to persuade the resellers to carry a brand, give it shelf space and promote it in advertising
o Energized fans with a unique product, brand personality and event-marketing approach
o Holds hundreds of events designed to bring community together
o Extreme sports events and athletes with off the grid experiences
o Red Bull Stratos project with extreme skydiver jumped from a helium balloon breaking the sound barrier and numerous other records
o Sales promotion: short-term incentives to encourage the purchase or sale of a product or service
§ Freestanding insert in the newspaper with a coupon
§ Ad offering "buy 1 get 1 free" and other discounts
§ Supermarket deals
§ Buy a new phone and get a free memory upgrade
§ Frequency marketing programs and loyalty cards
o Personal selling:
o Relationship oriented sale: engage the customer over the long term in a mutually profitable relationship
o Transaction oriented sale: aim is to make sales
o Prospecting and Qualifying
§ Identifying qualified potential customers. Financial ability, volume of business, special needs, location, possibilities for growth
o Pre-approach
§ Learn as much as possible about a prospective customer before calling
o Approach
§ Meet the customer for the first time
o Presentation and Demonstration
§ Tell the value story to the buyer, show how it solves problems
o Handling objections
§ Seek out, clarify, and overcome any objectives to buying
o Closing
§ Ask the customer for an order
o Follow-up
§ After the sale to ensure customer satisfaction and repeat business
o Sales quota: standard stating the amount a salesperson should sell and how sales should be divided among the company's products. Compensation often related to how well they meet quotas
o Organizational climate: valuing the salespeople
o Sales contests: spur efforts to go above and beyond what is expected