Promotions are a necessary tactic these days to entice changing buyer behaviour of your product or service.
The tactics behind trade promotions are the mechanics of how the promotion is structured - some tactics like a discount encourage the purchase of one product over another based on price alone. The discount is probably one of the most overused promotional tactics there is, and it’s an effective one.
Manufacturers and distributors need more than just an off invoice (OI) discount. Why? Well companies want to influence the following outcomes:
To get the results you want, you’ll need a pricing engine that has the capability and flexibility to cater for the different mathematics aligned to different promotional tactics. With the ability to include or exclude any product or customer, you then have true flexibility to design the following promotions:
You should because your competitors might be. You don’t need to apply these types of promotions to every product, every customer all of the time. You can activate these promotions for every possible combination of customer and product you can think of, and any year, month week, day or hour.
All designed properly, you’ll yield a higher volume and better margin as a result of your promotions creativity. Say goodbye to boring trade promotions with Flintfox!