Asked by Jennifer Guillen on May 05, 2024
Verified
The three major categories of premiums are contests and sweepstakes, consumer premiums, and dealer premiums.
Premiums
Items or services offered for free or at a low cost as an incentive to encourage a purchase or reward customer loyalty.
Contests and Sweepstakes
Promotional marketing strategies that involve participants entering to win prizes through skill (contests) or at random (sweepstakes).
Dealer Premiums
Incentives or rewards given to dealers or retailers to motivate them to push for higher sales of a particular product.
- Identify and distinguish between different types of sales promotions and their purposes.
Verified Answer
EP
Elexius PettigrewMay 12, 2024
Final Answer :
True
Explanation :
These categories encompass the various types of promotional incentives offered to consumers and dealers. Contests and sweepstakes engage customers with the chance to win prizes, consumer premiums are rewards given directly to consumers for purchases or actions, and dealer premiums are incentives provided to retailers or distributors to encourage them to stock or promote products.
Learning Objectives
- Identify and distinguish between different types of sales promotions and their purposes.