Fashion 6.05 Promotional Plan

Promotional Plan A written document that details a company’s promotional efforts for a certain period of time

Promotional Plan Contents Store and customer description Business type Location Hours of operation Type of merchandise Customer demographics

Promotional Plan Goals and objectives Example: to sell specific merchandise; increase sales in general; increase market share Should be Specific, Measureable, Attainable, Realistic, Time Bound ***to increase by 15% during Mother’s Day sale

3. Major theme *** Back to school Mother’s Day Prom “Support Our Troops”

4. Promotional Mix Decision Use of Calendar of events Overall plan of action Guides promotional budget Relates promotions to special events

Publicity, Public relations Sales promotions b). Specific Activities*** Advertising Personal Selling Publicity, Public relations Sales promotions

Try to reach the most people c). Media Mix Selection ***the right blend of media used to communicate the message of a planned promotion Try to reach the most people ***Newspaper is primary medium used for local retail advertising Radio is almost always used

5. Assignment of Responsibilities People / department responsible Division of labor (type, size and location of stores)

6. Promotional Budget Based on anticipated annual sales*** Sometimes based on last years sales State the total budget Itemize each expense

Calculating Promotional Budget Manufacturers budget 5-8% for promotions Retailers budget 1-4% for promotions You do the math . . . . *** If a retailer budgets 3% of expected sales of $1,562,766 for promotion, how much is it? Take $1,562,766 x .03 = _____________________