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Presentation on theme: "Promotion."— Presentation transcript:

1 Promotion

2 Promotion is informing, reminding, persuading and influencing prospective customers about your business and products Promotion should be planned as overall strategy

3 Promotional Plan 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

4 Design promotional mix activities
All activities that are done to promote the business Consider timing Consistent image Uses a combination of methods Personal selling Advertising Visual merchandising Sales promotion Publicity

5 Personal selling One on one promotion How can it happen?
Salesperson in store Door to door salesperson Calling on prospective clients Server at restaurant taking order What kinds of products are sold personally? technical, complex, costly where customer isn’t sure, new where they need info What isn’t? gum door to door

6 Personal selling includes…
Prospecting Demonstrating Telling about product’s features and benefits Answering customer questions Overcoming objections Helping customers decide to buy Suggesting related products & services

7 Most effective method of selling Many customers like direct contact
ADVANTAGES DISADVANTAGES Most effective method of selling Many customers like direct contact Can explain product’s technical/complex features Costly

8 Visual Merchandising Visual displays
Arranging merchandise within store Examples

9 Purposes Consider: Attract attention of shoppers
Stimulate interest in the product Show ways in which a product can be used Help consumers make selections Consider: Color Light Proportion and balance Backgrounds Size of items

10 Advertising 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?

11 Sales Promotions Any activity that supplements personal selling, visual merchandising, publicity, and advertising Coupons Rebates Refunds Contests/sweepstakes Samples Trade shows Promotions

Make yourself a news story/become visible Provide a press release to the media 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

Visibility of your business for little or no cost Consider local events: High School athletic brochures Community Theater brochures Publishing of Community Information

14 Basic advertising and promotional materials
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

15 Yellow Page listing Free with business line For additional ads, ask “Is this the most effective way to reach my target audience?”

16 Choosing mix activities for promotional plan
Cost Set budget for promotion 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

17 Image Make sure image is consistent across all promotional activities

18 Evaluation Have an evaluation method for each promotional activity
Are objectives met? Is money spent effectively? 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

19 Ask customers to bring in ads
Count coupons used Examine sales of products in advertised weeks vs. non-advertised weeks

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