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- Introduction of a new product into the market
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- Competitive pressure to gain/maintain market share
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Basic Ingredients of promotion in the present market scenario:
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- Providing various ways of Genuine Customer Interaction
- Providing choice at retail end translating into Customer satisfaction
- Providing element of luck to win big prizes translating into Customer entertainment & involvement
- Promoting Brand Loyalty
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Conventional Modes of Promotion:
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- Free Gift: Adding additional value to the product
- Lucky Draw: Adding element of luck
- Price Gain: Higher perceived value of product
- Dealer/Retailer Incentives: Motivation to sell product
- Point of Purchase Incentives: Stall decoration etc.
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Drawbacks of Existing Promotion System:
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- Customer Dissatisfaction: Undesired or Unwanted gifts/ no perception of higher value of product.
- Customer misunderstanding promotion program with no perceived benefits.
- Competition Response Latency: Reaction time to competitive promotion/ launches slow.
- Running multiple promotions is not feasible option for the companies.
- Problems monitoring promotions: Pilferation of goods/ distribution overheads/ monitoring customer satisfaction etc.
- Companies find it difficult to monitor results & get correct feedback.
- No direct interaction between company and the buyer.
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Ideal Promotional Program- “Wish List” through our machine & system :
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- Providing various ways of Genuine Customer Interaction
- Providing choice at retail end translating into Customer satisfaction.
- Providing element of luck to win big prizes translating into Customer entertainment & involvement
- Promoting Brand Loyalty.
- Run multiple promotional programs at the same time
- Facilitate customer loyalty
- Provide authentic / consistent / justified gifting.
- Provide an element of luck & entertainment value = very high customer involvement.
- Provide user data for analysis.
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