Sales Promotions Techniques

In order for a company to be able to sell their product there needs to be a detailed plan that describes all the selling aspects of the products, which include prices, where they will sell it, and advertisement. Companies have to do so because the sales promotion technique is what is going to sell their product, what will make their business successful, because it is what will make people interested in the product. If consumers do not know anything about the product they will not become interested in the product, and the product will not b sold, which will hurt the company because that is their main goal to be successful and keep their doors open to make future new product. This paper will explain the different kinds of selling techniques there are and how each work.
Discounts and deals are one of the techniques that companies use to attract consumers. Discounts and deals are only temporary. Every company and store has a discount or deal at some point to be able to sell their goods and services faster, once they have reached their expected outcome they are able to put the prices up, to the item’s regular price. I used to work for apartment complexes and I believe this is a good example. When I first started working at Nob Hill Apartments there were about 40 vacant apartments, and this was horrible for the management company because this was a big loss for the entire company. The apartments at this complex ranged from $640 to $1100 a month. The company was losing over $40,000 a month, every month and we needed to rent these apartments quickly! We first came up with a great special that no one could say no to. It was two months free off the rent; one of these two months was able to be prorated to bring the monthly rent down. Our special also included a no application fee and a $100 deposit with approved credit. Once the business was better we were able to change the special to one month free and we started charging the $40 application fee again.