Marketing  a Small Business Promotional Strategies
PROMOTION The various forms of communication that marketers use to  INFORM, PERSUADE, and REMIND  customers of their produ...
Promotional Strategy A carefully arranged sequence of promotions designed around a common theme responsive to specific obj...
Objectives of Promotion <ul><li>Provide Information </li></ul><ul><ul><li>Inform the market about the availability of a pa...
Considerations When Developing Promotional Strategies <ul><li>HOW  will potential customers be told about products? </li><...
Types of Promotional Plans <ul><li>Preopening plan :   A plan that outlines promotional activities for a new business befo...
Preopening plan <ul><li>Examples of opening activities </li></ul><ul><ul><li>Grand opening sale </li></ul></ul><ul><ul><li...
Types of Promotional Plans Ongoing plan:   A plan that helps maintain and build sales after a business has opened. <ul><ul...
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M11 L1 Promotional Strategies

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M11 L1 Promotional Strategies

  1. 1. Marketing a Small Business Promotional Strategies
  2. 2. PROMOTION The various forms of communication that marketers use to INFORM, PERSUADE, and REMIND customers of their product or service
  3. 3. Promotional Strategy A carefully arranged sequence of promotions designed around a common theme responsive to specific objectives.
  4. 4. Objectives of Promotion <ul><li>Provide Information </li></ul><ul><ul><li>Inform the market about the availability of a particular good or service </li></ul></ul><ul><li>Increase Demand </li></ul><ul><ul><li>Some promotions are aimed at increasing primary demand, the desire for a general product category </li></ul></ul><ul><ul><li>More promotions are aimed at increasing selective demand, the desire for a specific brand </li></ul></ul><ul><li>Differentiate the Product </li></ul><ul><li>Accentuate the Product’s Value </li></ul><ul><li>-- Promotion can explain the greater ownership utility of a product to buyers, thereby accentuating its value and justifying a higher price </li></ul>
  5. 5. Considerations When Developing Promotional Strategies <ul><li>HOW will potential customers be told about products? </li></ul><ul><li>WHAT is the promotional message? </li></ul><ul><li>WHEN & WHERE will the message be delivered? </li></ul><ul><li>What are the COSTS of different types of promotion? </li></ul>
  6. 6. Types of Promotional Plans <ul><li>Preopening plan : A plan that outlines promotional activities for a new business before its opening. </li></ul><ul><ul><li>Establishes positive image </li></ul></ul><ul><ul><li>Informs potential customers about the business opening </li></ul></ul><ul><ul><li>Creates customer interest </li></ul></ul><ul><ul><li>Begins six weeks before store opening </li></ul></ul>
  7. 7. Preopening plan <ul><li>Examples of opening activities </li></ul><ul><ul><li>Grand opening sale </li></ul></ul><ul><ul><li>Reception </li></ul></ul><ul><ul><li>Ribbon cutting </li></ul></ul>Types of Promotional Plans
  8. 8. Types of Promotional Plans Ongoing plan: A plan that helps maintain and build sales after a business has opened. <ul><ul><li>Explains major features and benefits of products/ services, or ideas </li></ul></ul><ul><ul><li>Communicates information about sales </li></ul></ul><ul><ul><li>Introduces new products, services or ideas </li></ul></ul><ul><ul><li>Developed for various periods of time </li></ul></ul>

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