Consumer Promotions

Consumer Production

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Consumer Promotions

The various different types of consumer promotions have one thing in common. Their primary aim is to ensure that they get as many consumers as possible that decide to purchase their product or item. Consumer promotions happen to be one of the biggest tools used by product manufacturers or retailers to ensure that they get their desired consumers attention and they can effectively persuade them the this is the very product that they need. With this product in hand, they can finally accomplish all that they have been meaning to accomplish for a really long time and this is the very best time to buy the aforementioned product ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"7UN6U0JU","properties":{"formattedCitation":"(Andrews, 2016)","plainCitation":"(Andrews, 2016)","noteIndex":0},"citationItems":[{"id":729,"uris":["http://zotero.org/users/local/5VyEEXyp/items/G6LN4NUQ"],"uri":["http://zotero.org/users/local/5VyEEXyp/items/G6LN4NUQ"],"itemData":{"id":729,"type":"article-journal","title":"Product information and consumer choice confidence in multi-item sales promotions","container-title":"Journal of Retailing and Consumer Services","page":"45-53","volume":"28","abstract":"This research augments efforts to produce a richer understanding of the drivers of consumer choice confidence. It examines the interplay between two marketing interventions that consumers encounter in retail marketplaces, diagnostic product information and multi-item sales promotions. Results indicate that the influence of product information varies as a function of sales promotion format. The information effect is weaker when consumers are allowed to select the products that will be included in the promotion. Perception of information adequacy is revealed as a mediator of the information diagnosticity effect. The implications for marketing theory and promotional strategy are discussed.","DOI":"10.1016/j.jretconser.2015.07.011","ISSN":"0969-6989","journalAbbreviation":"Journal of Retailing and Consumer Services","author":[{"family":"Andrews","given":"Demetra"}],"issued":{"date-parts":[["2016",1,1]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Andrews, 2016).

Now, promotions are a great means to boost sales during slow economic times, such as the ones that follow the holiday season. During this time, promotions can motivate the potential consumer to spend their money and move products. Another reason why promotions are frequently used by manufacturers and retailers is to hype the product. Thus, when the product actually becomes available, it flies off of the shelf at an incredible rate ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"r3eS1zFd","properties":{"formattedCitation":"(Le Borgne, Sirieix, & Costa, 2018)","plainCitation":"(Le Borgne, Sirieix, & Costa, 2018)","noteIndex":0},"citationItems":[{"id":732,"uris":["http://zotero.org/users/local/5VyEEXyp/items/RG6WZD5K"],"uri":["http://zotero.org/users/local/5VyEEXyp/items/RG6WZD5K"],"itemData":{"id":732,"type":"article-journal","title":"Perceived probability of food waste: Influence on consumer attitudes towards and choice of sales promotions","container-title":"Journal of Retailing and Consumer Services","page":"11-21","volume":"42","abstract":"Based on a consumer survey including two experiments with more than 400 French respondents each, this research (1), establishes that consumers’ perceived probability of waste has a significant negative effect on consumers’ attitude towards promotions and consumers’ intention to choose perishable food products (cheese and bread) on sale and (2), highlights skepticism towards the “Buy Two Get One Free later” offer. Recommendations are presented for managers and public policies, in order to reduce households’ food waste and prevent consumers from being skeptical towards new promotional mechanisms, a brand and/or, a retailer.","DOI":"10.1016/j.jretconser.2018.01.004","ISSN":"0969-6989","journalAbbreviation":"Journal of Retailing and Consumer Services","author":[{"family":"Le Borgne","given":"Guillaume"},{"family":"Sirieix","given":"Lucie"},{"family":"Costa","given":"Sandrine"}],"issued":{"date-parts":[["2018",5,1]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Le Borgne, Sirieix, & Costa, 2018). However, despite the incredible opportunity presented by promotions, the overall effectiveness of the promotional activity of a brand can only be gauged if the brand has an evaluation plan that works as the foundation.

At present, the cosmetic industry is booming. Social media is a huge platform and it has mainstreamed the production of cosmetic industry. With celebrities like Kylie Jenner turning into a business mogul with her own cosmetics line, the potentials are uncanny. She does not have a retail store that markets her products, most of the sales of her products are done over the internet. However, her products are usually sold out within minutes of them going online. Promotions, along with great marketing, have played a key role in the success of her business and can be used as an effective model to base one’s business strategy ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"gOoOwYpA","properties":{"formattedCitation":"(Bova, 2018)","plainCitation":"(Bova, 2018)","noteIndex":0},"citationItems":[{"id":733,"uris":["http://zotero.org/users/local/5VyEEXyp/items/VRFGDCND"],"uri":["http://zotero.org/users/local/5VyEEXyp/items/VRFGDCND"],"itemData":{"id":733,"type":"webpage","title":"How Kylie Jenner Built One of the Fastest-Growing Beauty Brands Ever","container-title":"Entrepreneur","abstract":"It took less than two years for Kylie Cosmetics to reach an estimated $630 million in sales.","URL":"https://www.entrepreneur.com/article/317001","language":"en","author":[{"family":"Bova","given":"Tiffani"}],"issued":{"date-parts":[["2018",7,20]]},"accessed":{"date-parts":[["2019",9,3]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Bova, 2018).

With regard to cosmetic products alone, the seven key consumer promotion means that can be used to drum-up sales and move products ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"5QAODsZF","properties":{"formattedCitation":"(Ogden & Ogden, 2014)","plainCitation":"(Ogden & Ogden, 2014)","noteIndex":0},"citationItems":[{"id":736,"uris":["http://zotero.org/users/local/5VyEEXyp/items/GX3A7LWP"],"uri":["http://zotero.org/users/local/5VyEEXyp/items/GX3A7LWP"],"itemData":{"id":736,"type":"book","title":"Integrated Marketing Communications: Advertising, Public Relations, and More","publisher":"Bridgepoint Education","URL":"https://books.google.com.pk/books?id=_-xLAQAACAAJ","author":[{"family":"Ogden","given":"J. R."},{"family":"Ogden","given":"D. T."}],"issued":{"date-parts":[["2014"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Ogden & Ogden, 2014). One of the very first key consumer promotion methods is Premiums. With more and more people becoming aware of how to apply makeup, the consumer would rather prefer to purchase a set of products, such as the skincare line, or the seasonal products must-haves. However, by including a free gift with such purchases brands can turn more people in this direction, thus moving more products.

Sweepstakes can serve as another means of consumer promotions with regard to cosmetics. With the purchase of certain products, you can have your customers enter a huge free-giveaway and this could also help drum-up sales.

Kylie Jenner is the queen of POP-up Stores. The moment it is announced that the younger Jenner is about the set up a POP-up store of her coveted Kylie collection, queues begin to form hours before opening. Putting a POP-up for your own brand in retail stores, especially near cash registers is another great means of moving products.

Loyalty Programs is another way of ensuring that the customers that purchase your products keep coming back for more. While the prevalence of loyalty programs is rather scarce in the cosmetic industry, brands like Victoria’s Secrets have been using it for years to maintain the loyalty of their customers.

Sponsorships are another means for the cosmetic industry to move their products. Companies like MAC, Keune, and Tresemme often sponsor fashion shows to move their products. Another excellent means of moving products would be to use Price-off consumer promotions. This is the go-to method used by various cosmetic brands to lower the price of some of their luxurious, high-end products to ensure a higher number of sales. Such promotional means are great, both during and after the holiday season.

Finally, a brand can never go wrong by offering free products to consumers. It is one of the most fool-proof means of drumming-up sales. You can either offer them with every purchase or give them out with the purchase of a certain number of products, with the chance to get something free on the horizon, you can never go wrong.

References

ADDIN ZOTERO_BIBL {"uncited":[],"omitted":[],"custom":[]} CSL_BIBLIOGRAPHY Andrews, D. (2016). Product information and consumer choice confidence in multi-item sales promotions. Journal of Retailing and Consumer Services, 28, 45–53. https://doi.org/10.1016/j.jretconser.2015.07.011

Bova, T. (2018, July 20). How Kylie Jenner Built One of the Fastest-Growing Beauty Brands Ever. Retrieved September 3, 2019, from Entrepreneur website: https://www.entrepreneur.com/article/317001

Le Borgne, G., Sirieix, L., & Costa, S. (2018). Perceived probability of food waste: Influence on consumer attitudes towards and choice of sales promotions. Journal of Retailing and Consumer Services, 42, 11–21. https://doi.org/10.1016/j.jretconser.2018.01.004

Ogden, J. R., & Ogden, D. T. (2014). Integrated Marketing Communications: Advertising, Public Relations, and More. Retrieved from https://books.google.com.pk/books?id=_-xLAQAACAAJ