Download Promotion

PROMOTION
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Promotion is informing, reminding,
persuading and influencing
prospective customers about your
business and products
Promotion should be planned as
overall strategy
Promotional Plan
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Set objectives for promotion
• Let people know that new business has
opened
• Gain new customers
• Advertise specific new product/service
• Announce new location
• Sell overstock of product
• Shut down business and sell inventory
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Design promotional mix activities
• All activities that are done to promote the
business
• Consider timing
• Consistent image
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Uses a combination of methods
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Personal selling
Advertising
Visual merchandising
Sales promotion
Publicity
PERSONAL SELLING
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One on one promotion
How can it happen?
• Salesperson in store
• Door to door salesperson
• Calling on prospective clients
• Server at restaurant taking order
PERSONAL SELLING INCLUDES…
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Prospecting
Demonstrating
Telling about product’s features and
benefits
Answering customer questions
Overcoming objections
Helping customers decide to buy
Suggesting related products &
services
ADVANTAGES
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Most effective method
of selling
Many customers like
direct contact
Can explain product’s
technical/complex
features
DISADVANTAGES
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Costly
VISUAL MERCHANDISING
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Visual displays
Arranging merchandise within store
Examples
• http://www.displays2go.com/visual_merchandising.htm
• http://retail.about.com/od/merchandisingbuying/ig/Visu
al-Displays-Photo-Gallery/
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Purposes
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Attract attention of shoppers
Stimulate interest in the product
Show ways in which a product can be used
Help consumers make selections
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Color
Light
Proportion and balance
Backgrounds
Size of items
Consider:
Advertising
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Getting message to mass
audience
Variety of media channels
Consider
• How large is firm’s trading area?
• Who are my customers and which
media would they use?
• What budget limitations do I face?
• How important is repetition and
continuity?
Sales Promotions
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Any activity that
supplements personal selling,
visual merchandising,
publicity, and advertising
• Coupons
• Rebates
• Refunds
• Contests/sweepstakes
• Samples
• Trade shows
• Promotions
http://www.branders.com/
PUBLICITY AND PUBLIC RELATIONS
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Make yourself a news story/become
visible
• Provide a press release to the media
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New business in the area announcement
Grand opening/Ribbon cutting
A conference/training you attended
Company anniversary
Community or other special accomplishments
Sponsorship
Product/service good for community or
individuals
• Editorial commentaries
PUBLICITY AND PUBLIC RELATIONS
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Visibility of your business for little or
no cost
Consider local events:
• High School athletic brochures
• Community Theater brochures
• Publishing of Community Information
BASIC ADVERTISING AND PROMOTIONAL
MATERIALS
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Business Cards and Letterhead
• Use consistent graphics, color scheme,
font, image and message
Signage (if customers are coming to
you)
• Name on door - expensive store sign
• Sign represents who you are/what you
do
• Helps customers identify you, your
company and your product or service.
• Ensure consistency with other items
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Yellow Page listing
• Free with business line
• For additional ads, ask “Is this the most
effective way to reach my target
audience?”
Choosing mix activities for
promotional plan
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Cost
• Set budget for promotion
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Percentage of sales
Objective – and-Task
Advertising as Investment
Spending as Much as the Competition
What will best reach your customers?
What will achieve objectives?
Consider timing
Image
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Make sure image is consistent across
all promotional activities
Evaluation
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Have an evaluation method for each
promotional activity
• Are objectives met?
• Is money spent effectively?
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Possible evaluation methods
• Increases in sales volume or foot traffic of
customers
• Compare against past years’ sales
• Have customers mention where they heard
about you
• Ask customers to bring in ads
• Count coupons used
• Examine sales of products in advertised
weeks vs. non-advertised weeks