marketing a small business promotional strategies

Marketing a Small Business

Promotional Strategies

PROMOTIONPROMOTION

The various forms of communication that marketers

use to

INFORM, PERSUADE, and INFORM, PERSUADE, and REMIND REMIND

customers of their product or service

A carefully arranged sequence of promotions designed around a common theme responsive to specific objectives.

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

• 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?

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

Preopening plan

•Examples of opening activities

Grand opening sale

Reception

Ribbon cutting

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