Question

A pharmaceutical manufacturer offers monetary incentives to its sales representatives to promote a new drug to the medical professionals in their respective geographic territories. This is an example of a ________ strategy. *

Answer 1

A pharmaceutical manufacturer offering monetary incentives for promoting a drug employs a sales incentive strategy, akin to money-back guarantees in the goods market to encourage purchases.

Step-by-step explanation:

The strategy in question, where a pharmaceutical manufacturer offers monetary incentives to sales representatives to promote a new drug, can be categorized as a sales incentive strategy. This form of strategy is utilized to encourage the sales team to push for higher sales and spread the product's market presence. It is similar to practices in the goods market, such as offering a money-back guarantee, which serves as a promise of quality and is a compelling reason for customers to try a product, even if there is some uncertainty regarding the purchase. In both cases, the common objective is to incentivize certain behaviors that are expected to lead to increased sales and customer engagement with the product or brand.

Answer 2

pull strategies

Step-by-step explanation:

A pull tactic is a method used to get one to the consumer. Rather of pressing the company into the client, pull approach includes the use of pull strategies or knowledge exchange to draw the consumer. Such clients would also continue selling the company for you.

The industry words pushing and pulling emerged in manufacturing and business process planning, but are now commonly used in promotions, as well as becoming a concept commonly used in hospitality delivery. Walmart is indeed an example of a corporation employing the push vs. pull technique.