Unit B Planning and Preparing to Manage a Small Business

1
Unit BPlanning and Preparing to Manage a Small
Business

• Competency 5.00
• Understand pricing, promotion, and market
  planning.

2
Promotion

• 5.03-5.05 Acquire a foundational knowledge of
  promotion, promotional channels, and promotional
  activities.

3
Goals of Promotion in Marketing

• General Goals
• Create desire
• Inform
• Create positive image
• Specific Goals
• Distribute 500 flyers by March 1

Promotion is effective when consumers buy
products!
4
Comprehensive Promotional Plan

• Choose strategies that match business image.
• Include media placement specifications and costs.

5
Promotional Mix

• The combination of promotional media used to
  reach a target market within the promotional
  budget.
• Each element is designed to inform consumers
  about the existence of a product.

6
Publicity

• A newspaper runs a story about a shoe donating
  shoes to the needy.

7
Sales Promotion

• The use of cents-off coupons in the grocery store.

8
Institutional Promotion

• A company advertises to consumers its commitment
  to recycling and reducing pollution.

9
Product Promotion

• Informing consumers about product features.
• An ad for Kleenex in Ladies Home Journal magazine

10
Public Service Promotions

• Inform consumers about noncontroversial issues.

11
Product and Place

• Internal factors that affect how a business uses
  its promotional tools.

12
Broadcast Media

• Television fastest growing
• Radio
• Text delivered to people interested in product

13
Out-of-Home Advertising

• Repeated exposure to the largest, most diverse
  population