Entrepreneurship Mr. Bernstein Developing a Promotion Strategy, pp 254-264 November 3, 2014.

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Entrepreneurship Mr. Bernstein Developing a Promotion Strategy, pp November 3, 2014

Entrepreneurship Mr. Bernstein Promotions Communication aimed at target market: Urge customers to buy your products Build more positive relationship with customers Promotion Strategy coordinates all aspects of promotion by planning and selecting the right mix of activities 2

Entrepreneurship Mr. Bernstein 3 Advertising Promotional Elements Advertising Publicity Personal Selling Sales Promotions Promotional Elements

Entrepreneurship Mr. Bernstein Pre-Opening Plans Establish a positive image Let potential customers know you are opening Bring customers into contact with your business Interest customers in your products and services. 4

Entrepreneurship Mr. Bernstein The Promotional Mix: Advertising Newspapers Magazines Direct Mail Outdoor Advertising (ie Billboards) Directories (ie Yellow Pages) Transit Advertising (ie subway cars) Television Radio Internet* Clothing and other labeled items 5

Entrepreneurship Mr. Bernstein The Promotional Mix: Publicity Placement in the media newsworthy items about your company or product. News releases, magazine articles, interviews Matawan Day, Aberdeen Day 6

Entrepreneurship Mr. Bernstein The Promotional Mix: Sales Promotion Displays – windows, checkout counters, etc. Premiums – bundling with a bonus product Rebates – money back discounts Samples – everyone loves a freebie Contests (ie “Win a Trip to Florida”…) 7

Entrepreneurship Mr. Bernstein The Promotional Mix: Personal Selling Best suited for larger-ticket items Telemarketing is a form of personal selling 8