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Published byPoppy Reynolds Modified over 9 years ago
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Marketing a Small Business Promotional Strategies
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PROMOTION The various forms of communication that marketers use to INFORM, PERSUADE, and REMIND customers of their product or service
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A carefully arranged sequence of promotions designed around a common theme responsive to specific objectives.
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Objectives of Promotion Provide InformationProvide Information –Inform the market about the availability of a particular good or service Increase DemandIncrease Demand –Some promotions are aimed at increasing primary demand, the desire for a general product category –More promotions are aimed at increasing selective demand, the desire for a specific brand Differentiate the ProductDifferentiate the Product Accentuate the Product’s ValueAccentuate the Product’s Value -- -- Promotion can explain the greater ownership utility of a product to buyers, thereby accentuating its value and justifying a higher price
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HOW will potential customers be told about products? WHAT is the promotional message? WHEN & WHERE will the message be delivered? What are the COSTS of different types of promotion?
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Preopening plan: A plan that outlines promotional activities for a new business before its opening. Establishes positive image Informs potential customers about the business opening Creates customer interest Begins six weeks before store opening
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Preopening plan Examples of opening activities Grand opening sale Reception Ribbon cutting
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Ongoing plan: A plan that helps maintain and build sales after a business has opened. Explains major features and benefits of products/ services, or ideas Communicates information about sales Introduces new products, services or ideas Developed for various periods of time
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