fashion 6.05
DESCRIPTION
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. - PowerPoint PPT PresentationTRANSCRIPT
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Fashion 6.05Promotional Plan
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Promotional Plan
• A written document that details a company’s promotional efforts for a certain period of time
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Promotional Plan Contents1. Store and customer description• Business type• Location• Hours of operation• Type of merchandise• Customer demographics
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2.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
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3. Major theme ***• Back to school•Mother’s Day• Prom• “Support Our Troops”
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4. Promotional Mix Decisiona) Use of Calendar of events• Overall plan of action• Guides promotional budget• Relates promotions to special events
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b). Specific Activities***• Advertising• Personal Selling• Publicity, Public relations• Sales promotions
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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
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5. Assignment of Responsibilities• People / department responsible•Division of labor (type, size and location of stores)
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6. Promotional Budget• Based on anticipated annual sales***• Sometimes based on last years sales• State the total budget• Itemize each expense
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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 = _____________________