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Developing a Promotional Strategy

Developing a Promotional Strategy. Overview for Entre. Type of Promotional Plans. As a new business owner, you need two kinds of promotional plans. Pre-opening plan You want money coming in as soon as you open your doors. Ongoing plan Helps you maintain and continue to build sales.

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Developing a Promotional Strategy

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  1. Developing a Promotional Strategy Overview for Entre

  2. Type of Promotional Plans • As a new business owner, you need two kinds of promotional plans. • Pre-opening plan • You want money coming in as soon as you open your doors. • Ongoing plan • Helps you maintain and continue to build sales

  3. Preopening Plan • Establish a positive image • Let potential customers know you are open for business • At least six weeks before opening • Bring in customers or have them contact your business • Grand opening • Party or reception • Interest customers in your new company and your product

  4. Plan your Pre-opening Campaign • Brief description • Specific media placement • Submit dates • Scheduled date of run or release • Number of runs, copies, or items • Costs • Rationale and other pertinent notes

  5. Ongoing Plan • Used to help maintain and build sales • Still keep positive image • Objectives for ongoing promotional plans • Explaining major features and benefits • Communicating sales information • Answering customers’ questions and concerns • Introducing new goods or services • Develop a Plan (same steps) • Start with Seasonal or Quarterly Plans • Can move to monthly

  6. When developing your ongoing strategy, consider • Target market • Remember it is always changing and evolving • Promotional Mix • Print media • Broadcast media • Sales Promotions • What is the most effective way to reach your target market? • Costs • Decide what’s affordable • Increase during seasonal or peak business times

  7. Types of Promotional Activities • Newspapers • Magazines • Direct Mail • Outdoor Advertising • Directories • Transit Advertising • Other Print Media • Television • Radio • Internet

  8. Examples of Sales Promotions* • Displays • Point of Purchase • Exterior • Showroom • Premiums • Coupons • Discounts • Favors • Rebates • Return of part of the purchase price • Samples • Free trial-size and travel-size • Samples • Sweepstakes and Contests • Sweepstakes are games of chance • Contests require the customer to do something to win • Personal Selling (although mentioned her e is not part of your promotional costs) • Still have to be communicated

  9. Budgeting • Obtain advertising rates from the media • Sales promotions are unique – investigate and price them out • Publicity – No costs! • What is the difference in promotions and publicity? • Hire an agency to handle? • Expensive • Compare Industry Averages • These industry averages will help you make sure your estimate is “on the money.”

  10. Promotional Decisions • What will be my message or theme? • What kind of advertising media should I use? • What public relations efforts and publicity activities should I plan? • What sales promotion devices and activities are appropriate? • Will I use personal selling? How? • How will my promotional activities be coordinated?

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