GCE Marketing 2024 Theory — Question 3

Model answer

(a) Eight sales promotional tools: i. Free trials and samples ii. Discounts and rebates iii. Loyalty programs iv. Referral marketing v. Advertising and sponsorships vi. Trade shows and events vii. Email marketing and newsletters viii. Social media contests and giveaways (b) Six benefits the company would derive from using sales promotional tools: i. Increased sales: It boosts revenue and drives sales growth through targeted promotions. ii. Brand awareness: It enhances brand visibility and recognition through consistent promotional efforts. iii. Customer engagement: It encourages customer interaction, loyalty and retention through engaging promotions. iv. Competitive advantage: It differentiates the company's products from those of competitors through unique and effective promotions. v. Market penetration: It helps enter new markets, attract new customers, and expand the customer base. vi. Cost-effectiveness: Sales promotions can be more cost-effective than other marketing strategies such as advertising, while gathering valuable customer data and insights for future promotional activities.