Name and Describe the Seven Common Types of Consumer Promotions

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The Answer is The most common types of consumer promotions are:
(1)Price Deals -A temporary price reduction or a sale price. There are four common price deals. A cents-off deal is a reduction in the normal price charged for a good or service announced at the point of sale or through mass or direct advertising. A price-pack deal provides the consumer with something extra through the package itself (e.g., a prize in the cereal box). Bonus packs contain additional amounts of the product free when consumers purchase the standard size at the regular price. Banded packs are more units of a product sold at a lower price than if they were bought at the regular, single-unit price.
(2)Coupons -Provide a discount on the price of a product. The two general types are retailer coupons and manufacturer coupons. Retailer-sponsored coupons can be redeemed only at the specified retail outlet. Manufacturer-sponsored coupons can be redeemed at any outlet distributing the product.
(3)Refunds and Rebates -A marketer's offer to return a certain amount of money to the consumer who purchases the product.
(4)Sampling -Allows the consumer to try the product or service for free.
(5)Contests and Sweepstakes -Create excitement by promising "something for nothing" and offering impressive prizes. Contests require participants to compete for a prize based on some sort of skill or ability. Sweepstakes require only that participants submit their names to be included in a drawing or other chance selection. A game is a type of sweepstakes, but it differs from a one-shot drawing type of sweepstakes because the time frame is longer.
(6)Premiums -Tangible rewards for a particular act, usually purchasing a product or visiting the point-of-purchase. Premiums add value to the product. The two types are direct and mail. Direct premiums award the incentive immediately, at the time of purchase. Direct premiums can be store premiums, in-pack premiums, on-pack premiums, or container premiums. Mail premiums require the customer to take some action before receiving the premium. A self-liquidator premium usually requires that a payment be mailed in along with some proof of purchase before the consumer receives the premium.
(7)Specialties (Specialty Advertising)-Presents the brand's name on something that is given away as a reminder, such as a calendar, pen, or cap.

Name and Describe the Seven Common Types of Consumer Promotions

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