Many organizations and companies rightfully so put premium into the consideration of the behaviours of their consumers especially in their product promulgation (Blackwell, 2006). Sales promotion is one of the methods utilize by companies in order to engage people to purchase their products. These simple tools and methods usually are short in terms of duration such as discounts, rewards and free samples (Peter & Olson, 2010). An example of this simple scheme is when malls give discounts for buyers who will purchase their product given a condition. A specific example is that they will give 70% discount for the first ten buyers of new products. Of course, as a consumer you will be engaged because 70% is a high price off to receive.
The purchase probability increases because people will tend to buy in hopes that they will be part of the first ten purchasers. Moreover, in terms of the quantity of purchase, people will now think that if they buy more they will have a greater chance of getting the discount. So in the same way that the chances of buying increase so does number of purchase. Timing is also needed when giving sales promotion; organizations must keep in mind that the majority of their target consumer can pay or purchase. In the situation of mall sales and discounts, they usually happen during the end of the year when malls to replenish their stocks for the upcoming year. Lastly, the location of the scheme is vital because it must be accessible to the majority of people to ensure that many people will come to the activity. Sales promotion often happens in caravans and events where many people gather because it increases their customer visibility. Personally, I buy products when they are discounted because I believe that it is more value for my money. Instead of buying it at its full price during regular days, I wait for the sale so that I can purchase the same thing but less the price. Since the price is less, I have the option to buy other products.
Reference:
Blackwell, M.Consumer Behaviour (10th Ed.). Thomson Learning. 2006
Consumer Behaviour: The Psychology of Marketing: http://www.consumerpsychologist.com/ 26 Oct. 2014
Peter J. P., & Olson, J. C. Consumer Behavior & Marketing Strategy (9th Ed.). New York, NY: McGraw-Hill Companies, Inc p. 237-239. 2010
